The theory is that this won't be the only fine if Temu doesn't fix this. So yes, a slap on the fingers, but the fines should grow bigger if Temu doesn't address this.
replyA real slap on the wrist of the CEO by a wronged customer would leave a more lasting impression.
replyIt sets precedent, and has already led to a (by Chinese foreign policy standards) fairly vicious response [0][1][2].
replyThis is also part of the EU's larger tariffs against China [3].
[0] - https://www.globaltimes.cn/page/202605/1361926.shtml
[1] - https://www.globaltimes.cn/page/202605/1362200.shtml
[2] - https://www.globaltimes.cn/page/202605/1362161.shtml
[3] - https://www.ft.com/content/e28fe696-ac30-4543-a105-febc82789...
From Claude: The €200 million penalty equals around 0.4% of the global turnover reported last year by Temu's parent company PDD Holdings.
replyAccording to Eurostat, the average gross annual salary in the EU is around €39,800 per year for full-time employment. The average net salary comes to roughly €2,461 per month, or about €29,500 net per year.
0.4% of an average worker's gross annual salary = roughly €159.
Quick, reinterpret with your own faculties! (Model output got itself banned here) - friendly message :)
replyThe fine is for activity in the EU, so compare it to their business there. Comparing apples to advertisement fliers is useful only if you are using the fliers as toilet paper substitutes.
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