FT News Briefing Chile veers left
Dec 21, 2021
U.S. holiday shopping is being disrupted by 'Grinch bots' snatching up popular gifts. Meanwhile, Chinese tech firm SenseTime is revamping its IPO with state support after facing U.S. sanctions. In Chile, former student leader Gabriel Boric's election signals a left-leaning shift, raising hopes for reforms in response to widespread social discontent. Voter sentiment is changing, pushing for alternatives to the private pension system. Lastly, as cities adapt post-pandemic, micro-mobility solutions like e-scooters are gaining traction.
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Grinch Bots Disrupt Holiday Shopping
- US retailers face challenges getting holiday goods to consumers due to high demand, supply chain issues, and "Grinch bots."
- These bots buy up hot items like limited-edition sneakers and video games, reselling them at higher prices.
SenseTime's IPO Relaunch
- SenseTime, a Chinese AI company blacklisted by the US, will relaunch its Hong Kong IPO with backing from Chinese state-owned firms.
- This demonstrates the US's limited power to stop these companies from raising capital, as China has its own resources.
Chile's Political Shift
- Gabriel Boric, a former student protest leader, won Chile's presidential election, marking a significant shift to the left.
- This election signifies a departure from Chile's traditional center-left and center-right governments, representing a response to the 2019 uprisings.