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Economy

Cultural Revolution: A Chinese Functionary Creates His Own Luxury Label

Countless products are manufactured in China and then sold in the West under European or U.S. brand names. A new clothing venture is looking to turn that model inside out, hiring Italian tailors to make top-end suits for sale in China – under a Chinese br

Authentic elegance (Carsten Linke)
Authentic elegance (Carsten Linke)
Florian Eder

SORAGNA - Two things made Umberto Angeloni realize that his client wasn't kidding around. For one thing, Jie Zhang had Angeloni's company thoroughly researched and was apparently impressed by what he found: he placed an initial order for 100 hand-made suits.

The other thing was that the People's Daily, the Chinese Communist Party paper, carried the story prominently, as did State television. Angeloni was left with the impression that the man is not only serious, but also has the support of the Party for the billion-euro state company he heads and for his plan to create a Chinese luxury label in men's fashion. Angeloni's northern Italian company was to make the suits.

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Economy

The Bogus Concept Of "Carbon-Neutral" Oil

The Colombian president recently said that the country had exported one million barrels of carbon-neutral or offset oil. But in an unregulated carbon market, such a claim is pure greenwashing.

People walk in the streets of Bogotá

María Mónica Monsalve Sánchez

-OpEd-

BOGOTÁ - In March this year, various national and corporate leaders met in Houston, Texas, for CERAWeek, an annual conference to discuss the world's energy challenges. Colombia's President Iván Duque took the opportunity to remind participants that his country produced just 0.6% of the world's carbon emissions even as it had raised crude production to one million barrels a day.

He said oil should not be seen as an enemy, since the fight was really against greenhouse gas emissions. He also revealed at the event that the country's national oil firm, Ecopetrol, had sold the Asian market its first million barrels of carbon-neutral or offset crude, consisting of the entire extraction, production and exportation chain.

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