On the contrary, it draws more attention the ugly side of Chinese policies. Wolf warrior diplomacy may give the Chinese emotional satisfaction but it doesn’t win them understanding or support of others. China is now in a confrontation mode with the US and is losing grip of the developing situation.
If there is any truth in the analysis that Xi Jinping faces domestic pressures, and this is compelling him into shows of strength internally and externally, then the likelihood of China seeking a rational compromise with India would seem little. The strategy also was to release pressure on Pakistan by keeping the Indian forces tied down on the Tibetan border. It could until now pin prick India at will in sensitive areas on the border, force India into a negotiation mode with advantage on its side, rattle the Indian political establishment, put pressure domestically on the government, demonstrate to India and its neighbours that China held the upper hand, and so on. If China, having taken an adventurist step with the intention to brow beat India retreats, it would have lost that political, military and psychological edge it has so far enjoyed vis a vis India. Withdrawal by either side without a solution that meets immediate and longer term interests is not easily conceivable. With almost 40,000 troops mobilised by both sides the situation has become most tense. That rebuff seems to have goaded the Chinese leadership to plan a blow on India in Ladakh and retrieve lost political, military and psychological ground. Doklam should have been a warning to China that its military efforts to gain territorial advantage at India’s cost would not go unchallenged. It has underestimated the Indian resolve to stand up to its bullying tactics. The Converse brand saw revenue grow 3 per cent to $1.9 billion, which was mainly driven by double-digit growth in Asia and digital.China has committed a grave error in triggering a military confrontation in Ladakh. Revenue grew 7 per cent to $39.1 billion, driven by sportswear, Jordan, and running, as well as strategic investments in innovation and digital led by Nike Direct. “Our distinctive innovation and digital advantage led to accelerated growth across our complete portfolio, while our brand fuelled deeper relationships with consumers around the globe,” he said in a statement. Yesterday, Nike president, chairman and CEO Mark Parker told investors this year was a pivotal one for the company.
This year, Nike’s tax rate returned to a more normalised level of 16.1 per cent. However, the large disparity is attributed to the enactment of the Tax Act last year, which raised Nike’s effective tax rate to 55.3 per cent – causing a 54 per cent drop in profits. Meanwhile, Nike’s net profit increased to US$4 billion during the 2019 financial year, more than double last year’s figure of $1.9 billion.
The Undercover Instagram post has since been removed, and the firm has claimed that the content was an “individual opinion” posted mistakenly. The withdrawal may have been a response to a negative backlash against the brand on Chinese social media for its apparent siding with Hong Kong.īreaching sensitive political issues has proved costly for many companies attempting to do business in China, as nationalist sentiments spread virally on platforms such as WeChat and Weibo can decimate brand credibility overnight for crossing the line. Nike’s retail partners began pulling the shoe from sale following the post, with some vendors posting announcements that Nike had given urgent instructions to halt the shoe’s release.
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