China's Future
China is poised to take over the lion’s share of global textile and apparel production come 2005, according to a recently released report by the U.S. International Trade Commission. The report forecasts changes will come as early as Dec. 31, when quotas on China’s exports expire. The findings came as little surprise to many in the industry, who had predicted a surge in Chinese imports after the elimination of quotas. As a result of the report, some observers expect domestic textile and apparel producers will step up the pressure on lawmakers to impose stop-gap measures that would protect U.S. manufacturers from the heightened competition.
