ABSTRACT
The global economy has experienced a downturn due to the COVID-19 epidemic, and the entire apparel industry has been hit hard. However, in the post-epidemic era, the digital trend of the world has become more pronounced. The virtual consumer market and virtual fashion took this opportunity to overgrow. More and more people are willing to spend money on virtual products. In a way, virtual fashion is the acceleration and continuation of future fashion trends. The most crucial difference between virtual and physical fashion is that the latter does not undergo physical production. Instead, virtual clothing can be purchased and “worn” immediately. More and more fashion brands have paused traditional fashion shows in favor of visuals such as video game collaborations, mobile apps, virtual icons, virtual showrooms, and virtual clothing brands. This paper compares and analyzes ten international brands associated with virtual fashion through data collection and case studies. It shows that with the help of modern cutting-edge technology, the traditional apparel industry has ushered in a new transformation point. New virtual fashion will gradually enter our daily life from the experimental field, driving the transformation of the apparel industry. Copyright © 2022 Textile Bioengineering and Informatics Society.
ABSTRACT
The aim of this paper is first to establish a general prediction framework for turning (period) term structures in COVID-19 epidemic related to the implementation of emergency risk management in the practice, which allows us to conduct the reliable estimation for the peak period based on the new concept of “Turning Period” (instead of the traditional one with the focus on “Turning Point”) for infectious disease spreading such as the COVID-19 epidemic appeared early in year 2020. By a fact that emergency risk management is necessarily to implement emergency plans quickly, the identification of the Turning Period is a key element to emergency planning as it needs to provide a time line for effective actions and solutions to combat a pandemic by reducing as much unexpected risk as soon as possible. As applications, the paper also discusses how this “Turning Term (Period) Structure” is used to predict the peak phase for COVID-19 epidemic in Wuhan from January/2020 to early March/2020. Our study shows that the predication framework established in this paper is capable to provide the trajectory of COVID-19 cases dynamics for a few weeks starting from Feb.10/2020 to early March/2020, from which we successfully predicted that the turning period of COVID-19 epidemic in Wuhan would arrive within one week after Feb.14/2020, as verified by the true observation in the practice. The method established in this paper for the prediction of “Turning Term (Period) Structures” by applying COVID-19 epidemic in China happened early 2020 seems timely and accurate, providing adequate time for the government, hospitals, essential industry sectors and services to meet peak demands and to prepare aftermath planning, and associated criteria for the Turning Term Structure of COVID-19 epidemic is expected to be a useful and powerful tool to implement the so-called “dynamic zero-COVID-19 policy” ongoing basis in the practice. © 2022, Science Press (China). All rights reserved.
ABSTRACT
Affected by the COVID-19 epidemic, the global economy has declined. However, the overall clothing industry has been hit hard. Virtual fashion has taken this opportunity to develop rapidly. Due to the pandemic, consumers behavior has changed to become more susceptible to the influence of social media and paying more attention to the social responsibility of brands. Virtual fashion represented by game collaboration, mobile apps, virtual avatars, and virtual clothing has gained traction in the post-epidemic era. In this paper, ten international brands related to virtual fashion were compared and analyzed by data collection. It indicates that the traditional clothing industry has ushered in a new transformation point with the help of modern cutting-edge technology, and the new virtual fashion will also enter our daily life from the experimental field. © 2019 Textile Bioengineering and Informatics Symposium Proceedings 2021 - 14th Textile Bioengineering and Informatics Symposium, TBIS 2021. All rights reserved.
ABSTRACT
In 2020, the global lockdowns caused by the COVID-19, or coronavirus, pandemic had resulted in a sharp drop in demand for crude oil. This impact was so severe that on April 8, 2020, a proposal to update the Chicago Mercantile Exchange Holdings Inc. (CME) trading rule to permit negative prices was applied to CME’s WTI Oil futures contracts;this led to a novel phenomenon in which the closing clearing price of WTI Oil May future was $-37.63/barrel based on fewer than 400 contracts’ trading volume in the last three minutes, reflecting less than 0.2% of the total trading contracts volume on April 20, 2020. This occurrence of negative closing clearing price for CME’s WTI Oil futures trading, cannot be explained simply by just the principle of supply and demand;instead, it highlights vulnerabilities caused by CME’s allowance of negative price trading (based on its trading platform), a decision which brings potential and fundamental challenges to the global financial system. This event challenges not just our basic concepts of “value” and trading “price” of commodities and goods that underline our understanding of the framework for the invisible hand and general equilibrium theory in economics established by a few generations of scholars since Adam Smith in 1776 for market economies, but also have wider implications on the fundamentals that underpin our ideas of value and labor in the organization, activity, and behavior of civilizations and individual liberties. The scope of this book is limited to covering the impact of the negative oil futures derivatives’ trading between April 20 and 21, 2020. This book focuses on exploring the issues, challenges, and possible impacts on global financial markets due to the negative clearing prices of WTI Oil futures contracts and related problems from different perspectives. Topics covered include the responsibilities and liabilities of the CME;critique to the fundamental theory of economics and the modern understanding of value and labor;and challenges to the global financial systems and businesses and introduction to new methods of application. © 2021 by World Scientific Publishing Co. Pte. Ltd.
ABSTRACT
In 2020, the global lockdowns caused by the COVID-19, or coronavirus, pandemic resulted in a sharp drop in demand for crude oil. This impact was so severe that on April 8, 2020, a proposal to update the Chicago Mercantile Exchange Holdings Inc. (CME) trading rule to permit negative prices was applied to CME’s WTI oil futures contracts;this led to a novel phenomenon in which the closing clearing price of WTI oil May future was $-37.63/barrel based on fewer than 400 contracts’ trading volume in the last three minutes, reflecting less than 0.2% of the total trading contracts volume on April 20, 2020. This occurrence of negative closing clearing price for CME’s WTI oil futures trading cannot just be simply explained by the principle of supply and demand;instead, it highlights vulnerabilities caused by CME’s allowance of negative price trading (based on its trading platform), a decision which brings potential and fundamental challenges to the global financial system. This event challenges not just our basic concepts of “value” and trading “price” of commodities and goods that have underlined our understanding of general equilibrium theory established by generations of scholars since Adam Smith in 1776 but also has wider implications on our fundamental framework when it comes to value and labor in the organization, activity, and behavior of civilizations and individual liberties. The scope of this book is limited to covering some key impacts of the negative oil futures derivatives’ trading between April 20 and 21, 2020. This book focuses on exploring the issues, challenges, and possible impacts on global financial markets due to the negative clearing prices of WTI oil futures contracts and related problems from different perspectives. Topics covered include the responsibilities and liabilities of CME;critique of the fundamental theory of economics and the modern understanding of value and labor;challenges to the global financial systems and businesses;and introduction to new methods of application. © 2021 by World Scientific Publishing Co. Pte. Ltd.