I'd disagree. Even from a pretty neoliberal kind of economics, fast fasion doesn't factor environmental "externalities" (i.e. the cost doesn't include environmental destruction) so it's massively undepriced, which artificially punps up demand for fast fashion.
In other words, the issue is caused by the way the system is set up. I.e. it's a systemic issue.
The majority of European countries are still moving in the right direction, albeit far too slowly. It's mainly just the US that's abandoning any attempt towards sustainability.