Shein’s I.P.O. Presents Tests on Wall Street and Washington

Shein aims to win over Wall Street and Washington In filing confidentially for an initial public offering, Shein, the ultrafast-fashion retailer, is showing ambition on two fronts. The company and its underwriters are betting that investors will be more receptive to I.P.O.s, even though high-profile market debuts this fall largely fizzled out. Shein is also testing whether it can endure what’s likely to be an increase in political heat on the China-founded e-commerce giant. The company has cut some of its most prominent ties to China, after drawing pushback from…

Hawks Are Standing in the Way of a New Republican Party

Many of today’s Republicans thus came of age at a time when hawkishness on behalf of liberal values was understood as conservative. Yet the values lying at the foundation of that worldview and shaping our institutions are antithetical to everything conservatives claim to cherish: a ruthless market ideology that puts short-term shareholder gains and the whims of big finance above the demands of the national community; a virulent cultural libertinism that dissolves bonds of family and tradition. What conservatives revile as “woke capital” is just this acidic combination of a…

Congress Passes Ban on Goods From China’s Xinjiang Region

WASHINGTON — The Senate voted unanimously on Thursday to approve legislation that would ban the import of a wide array of products made in China’s Xinjiang region in a drive to prevent companies from sourcing goods produced through forced labor by persecuted Muslim minorities. Its passage was a victory for supporters of an aggressive human rights measure that faced a fierce corporate lobbying campaign from businesses that argued it was too onerous and would disrupt global supply chains. The vote sent the measure to President Biden’s desk, where he was…