With China as Leading Clothing Exporter, U.S. Trade Associations Demand Fair Practice
by Christina Lee on November 10th, 2008
As world trade growth slipped to 6 percent last year, U.S. trade associations and experts still debate about how its nation can possibly fare in a global clothing market with China as its reigning exporter. Despite symptoms of an overall weakening economy, China has taken over an industry largely dominated by Mexico, the Dominican Republic, and some Central American countries. As the world’s second largest exporter of merchandise in 2007, China also supplied more than a third of the world’s clothing exports – amounting to $115.2 billion, according to a World Trade Organization report. Meanwhile, the global economy is slowing... Read more »