WTO forecast, H&M’s China problems, venomous humans

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Here’s what you need to know

The World Trade Organization’s annual forecast for global trade. Trade flows shrank 9% in 2020.

Brazil is in a major political crisis. The heads of the army, navy and air force all quit a day after the country’s defense and foreign ministers stepped down as discontent over president Jair Bolsonaro’s handling of the pandemic grows.

Germany restricted the use of AstraZeneca’s vaccine. The move to suspend its use for people under 60 was prompted by concerns over new blood clot reports, and follows a similar step by Canada.

The US, UK, EU, and others want a new Covid-19 origins investigation. The demand for an inquiry “free from interference” followed the release of the World Health Organization’s findings from a visit to China, and comments from the agency’s chief that Beijing withheld data.

There’s more fallout from the Archegos disaster… US senator Elizabeth Warren called for better banking oversight, while Credit Suisse shareholders prepare for a multibillion-dollar hit from the hedge fund’s massive unwinding of trades.

…and religious and socially conscious investors are focusing on Xinjiang. A group of more than 50 investors wants companies such as H&M, Inditex, and Hugo Boss, to clarify their supply chains’ ties to the Chinese region amid concerns about mass detentions and forced labor. Read more below.

India reportedly blocked ByteDance’s bank accounts for alleged tax evasion. TikTok is still banned in India, but the company retains about 1,300 employees in the country.

What to watch for

H&M releases its latest quarterly results today, and while they won’t reflect the recent blowback it has suffered in China over a past statement on forced Uyghur labor in Xinjiang, executives will get the chance to address the issue on a scheduled conference call.

Several international companies are contending with the Beijing-driven backlash, but H&M has received the worst of it from multiple fronts.

📱  Social media users: It all began with a Communist Youth League division post on Weibo.

🏬  E-commerce sites: H&M’s official store on Alibaba’s Tmall was taken down, and its products no longer appeared in searches of large Chinese e-commerce sites such as JD.com and Pinduoduo.

📺  State media: Broadcaster CCTV accused the retailer of “eating China’s rice while smashing its pot.”

🤩  Celebrities: Huang Xuan and Victoria Song both announced they would not work with H&M.

🚪 Landlords: Property owners have shut down at least six H&M stores.

The head of the European Union Chamber of Commerce in China has advised H&M to lay low in the country until the furor dies down.

Mapping mobile money in Africa

Africa is the global leader in mobile money providers, especially since the pandemic, which prompted people to turn to digital services over cash. In 2020, mobile transaction values around the world increased around 22%, with Africa accounting for 64.5% of the overall value. (The figures exclude services linked to formal bank accounts.)

The global increase was in part a result of changes in consumer behavior, with more people open to digital transactions, but also more flexible processes by regulators. The fastest growth happened in countries where governments provided the most pandemic relief.

The philosophy of resistance

Journalist-turned-politician Gwyneth Ho shot to fame as both chronicler and victim of the Hong Kong protests’ darkest moment: a mob attack in July 2019 when armed thugs assaulted protesters and commuters. She was livestreaming the incident when she was attacked herself.

The 30-year-old is now in jail, charged alongside nearly 50 other activists with subversion. Ho had given up journalism to run for political office, which she believed would let her more directly influence Hong Kong’s democracy movement. But the government says the activists’ attempts to win seats threatened national security, and they now risk life imprisonment.

Like many political prisoners before her, she sees her time in detention as a political act, an embodiment of resistance. From prison, she writes that she’s been shaped by everyone in the movement—and hopes her actions will ripple onwards to influence others. That’s her unifying philosophy of resistance against a regime that seeks to atomize society.

✦ Mary Hui has covered the past, present, and future of Hong Kong protests. If paywalls are keeping you from following the whole journey, try a Quartz membership for free.

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Surprising discoveries

Humans have the genetic foundation to someday become venomous. At least, according to snake researchers.

The US Strategic Command tweeted “;l;;gmlxzssaw.” Its work-from-home Twitter manager blamed a “very young child.”

An Italian mafioso on the lam was done in by a YouTube cooking video. The ‘Ndrangheta member’s face was hidden, but his distinctive tattoos were visible.

Nike is suing MSCHF over its “Satan Shoes.” But it didn’t have a problem with 2019’s “Jesus Shoes.”

No, Volkswagen isn’t changing its name to Voltswagen. The carmaker now says that was just an early April Fool’s Day joke.

Our best wishes for a productive day. Please send any news, comments, and rogue tweets—but no lame April Fool’s Day stunts—to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Tripti Lahiri, Marc Bain, Mary Hui, Liz Webber, and Susan Howson.