Despite the low ebb in trade volume, the year 2009 could be a golden opportunity for the textile and apparel industry both in the United States and China to reform and change. The U.S. textile industry at present urgently needs to figure out some new business models and explore more overseas markets to meet the challenges of lessening domestic demand. On the other hand, the task for the Chinese is to further reduce reliance on exports while absorbing the production capacity of the industry by stimulating more domestic consumption. With the economic interests between the U.S. and Chinese textile and apparel industries conflicting rather than complementary, potential trade tensions will not simply disappear. Restrictive trade policies, perhaps in new forms, are expected to return after 2009.
- trade policy,
- textile and apparel
Available at: http://works.bepress.com/shenglu27/3/