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Chinese sun king’s fortune doubles despite US sanctions on forced labor

Chinese solar company Hoshine Silicon Industry faced US sanctions in June 2021 for allegedly using forced labor to manufacture its products. More than a year later, Hoshine’s shares are up 111 percent, founder Luo Liguo’s personal wealth has doubled, and the Luo family is spending a billion dollars to expand the company’s presence in Xinjiang, home to enslaved people, Muslim Uyghurs.

Bloomberg News Hoshain’s “continuous success” on Thursday allegedly showed the limits of the sanctions and questioned the effectiveness of the sanctions. Uyghur Forced Labor Protection Law (UFLPA) sets stricter standards on importers to prove that goods from Xinjiang were not tainted by slavery.

The evidence against Hosin is particularly troubling, but certainly not sufficient for the Chinese government, which denies the Uighur genocide and insists there was no slavery in Xinjiang, which its residents call East Turkestan.

Saying that they could not hear from our families and relatives in East Turkestan, Uyghur Turks participated in the action held in front of the Chinese Embassy in Ankara on Tuesday, May 24, 2022. (Burkhan Ozbiliji/AP)

Alejandro Mallorcas, Secretary of the Department of Homeland Security (DHS) aforementioned As of June 2021, his agency had “information that reasonably demonstrates that Hoshine uses forced labor to manufacture its silicon dioxide-based products.”

American investigators found two main signs of forced labor in Hoshain’s operations: “intimidation and threats and restriction of movement.” Chinese government documents revealed that the company was involved in government programs known to coerce Uighur workers and subject them to political indoctrination.

DHS and US Customs and Border Protection (CBP) published A Hoshine release hold order requiring all shipments to be held upon arrival at a US port. Majorcas presented the order as proof that “the United States will not allow modern slavery in our supply chains.”

“Forced labor is a human rights violation that harms vulnerable workers, undermines the global economy, and forces consumers to use unethical products,” said Troy Miller, a senior CBP official.

Although a delay order has been issued, industry analysts aforementioned Implementing this is nearly impossible because Hoshine is the dominant supplier in the solar panel industry, so slavery could disrupt nearly the entire green energy supply chain.

Some analysts say it’s easier said than done. each one Xinjiang origin silicone product contains some Hoshine materials and can therefore be considered defective by forced labor.

Xinjiang has therefore become the heart of the solar panel industry. large coal reserves It is used to generate the heat needed to create “green” technologies that will make the industry less dependent on coal.

Workers install solar panels on the roofs of factory buildings in SME Park in Lianyungang, China’s Jiangsu Province, on July 5, 2022. (Photo by VCG/VCG via Getty Images)

Cheap energy – along with ultra-cheap labor from what China absurdly calls “vocational education and training centers” for its captive Uighur population – is helping Hoshine lower the price of its silicone products by at least 15 percent. Some institutions in Hoshin are literally next to concentration camps. Company literature boasts of participating in “anti-poverty programs” through which rural Uyghurs are driven into their factories against their will, and even cheerfully describes the coercive measures applied to these victims.

Hoshine and other Chinese companies control the solar panel industry too much to face sanctions and have no problem finding alternative buyers when American suspicions get in the way, according to a Bloomberg report released Thursday.

Since the taxpayer-saving green energy industry is completely dependent on Chinese silicon, American scum hasn’t really been a hindrance. Bloomberg experts believe that the sanctions against Hoshine are hurting American green energy companies more than a Chinese company developing and expanding its operations, as stated:

Since the sanctions were announced, US solar imports have fallen. According to BloombergNEF data, they reached $4.1 billion between July 2021 and May, down 24% from the same period last year.

“The United States is just a troubling market,” said Paula Mints, founder of SPV Market Research, a San Francisco-based research firm, citing sanctions and ongoing investigations into whether some solar manufacturers’ panel is avoiding tariffs.

While the U.S. solar industry struggled, Hoshine had its best year since its IPO in 2017. Despite US sanctions running along the solar supply chain, the price of industrial silicon has dropped 300% last year after manufacturers elsewhere in China were forced to cut production. To save electricity due to national coal shortage. China’s solar energy exports as a whole increased by 71% from June 2021 to May, reaching $35.6 billion. Germany, Spain and the Netherlands are among the largest buyers, along with Brazil, Japan and Australia.

The Uyghur Forced Labor Prevention Act was initially seen as a major problem for the textile industry, as Xinjiang produces so much cotton and the cotton supply chain is difficult to trace. Analysts soon began seeing Xinjiang’s solar industry as: even more problematic — and their goods are more difficult to obtain from alternative sources than cotton.

Solar panels will break the back of the global abolitionist movement due to the politically strong green energy industry compulsory Solar panels in Xinjiang. With billions of dollars in sales revenue and taxpayer subsidies at stake, the green industry will eventually convince itself that there are “vocational training centers” complete with watchtowers and barbed wire on Uyghur soil.

Source: Breitbart

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