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Textiles Intelligence6 page report
published Nov 01, 2008
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Textiles Intelligence
In the March-April 2008 of Textile Outlook International (No 134), we asked the question: “Is China Losing its Competitive Edge in Textiles and Clothing?” We noted that the industry was facing a loss of competitiveness on several fronts: appreciation of the renminbi, higher raw material costs, higher labour costs and labour shortages. On top, the global financial crisis was starting to have an impact on consumer demand in China’s main export market, the USA.
Five months on, a report in EmergingTextiles.com notes: “China’s clothing industry is confronted with a severe crisis this year, resulting in a ... wave of bankruptcies and layoffs.” The crisis is attributed to a combination of higher labour costs, a shortage of workers and the global economic crisis, which has hit demand in China’s major export markets.
Few manufacturers around the world will shed tears at the difficulties in which the Chinese industry finds itself. China’s dominance, and the proven ability of its industry to ramp up production quickly and supply international markets with a wide range of quality products at low prices, has been nothing short of remarkable. But it has driven countless competitors out of business—in developing as well as developed countries.
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| Source: | Textiles Intelligence Ltd
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| Document ID: | TOI 136 editorial
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| Country: | China
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| Free Sample: |
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| Format: | | PDF |  |
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Sections |
| Title | Starting Page | Number of Pages |
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| CRISIS HITS CHINA'S CLOTHING INDUSTRY | 3 | 4 |
Textiles Intelligence specialises in providing business information on the global fibre, textile and apparel industries. It was formed in 1992 as a spin-off from the Economist Intelligence Unit and the company now publishes more than 100 reports a year on the textile and apparel industry. Reports contain authoritative research-based information and statistical data – including details of markets for, and developments in, niche sectors such as technical textiles and performance apparel – and are used by senior executives, investors and strategists who need to understand all areas of the supply chain.
