‘Slavery is not a thing of the past’

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-02 • Permanent link

Fears of systemic inequality resurfaced yesterday as the UN Committee against Racial Discrimination (CERD) reiterated the ongoing impact of slavery on modern society. The committee's comments came as the world marked the anniversary of the transatlantic slave trade, with many calling for greater accountability from governments and corporations. The CERD's stance was met with mixed reactions from investors and policymakers, who are grappling with the economic and social implications of this issue.

Rumors of a potential 10-euro import fee on fashion imports from China have sparked concern among European textile associations, which could have far-reaching consequences for the global fashion industry. The proposed measure is seen as a last-ditch effort to curb the influx of ultra-cheap competition, which has led to a 15% decline in sales for the European Fashion Federation since last quarter. Industry experts warn that such a fee could lead to job losses and supply chain disruptions.

Historical comparisons suggest that the fashion industry's struggle to adapt to changing market conditions is not unique. In the 19th century, European textile manufacturers faced similar challenges in the face of colonial competition, leading to the rise of mass production and the decline of traditional craftsmanship. However, the current crisis is distinct in its reliance on global supply chains and the speed of technological innovation.

The fashion industry's response to this crisis will be closely watched by investors and policymakers, who are seeking solutions to address the systemic inequalities that have contributed to this downturn. As the European Fashion Federation navigates these challenges, it is likely that we will see a renewed focus on sustainability, diversity, and social responsibility. With the global economy still reeling from the COVID-19 pandemic, the fashion industry's resilience will be put to the test in the coming months.