The textile industry is facing difficulties and prospects

Update:31-08-2020

Summary:

"Survival" in the textile industry's predicament, Chin […]

"Survival" in the textile industry's predicament, China is saying goodbye to the "world factory"

Business News, September 5, since the end of 2007, with the acceleration of the appreciation of the renminbi, the high domestic CPI, and the increase in labor costs brought about by the implementation of the new "Labor Contract Law", Chinese manufacturing companies are facing a challenge. An unprecedented predicament. According to a company survey compiled by the American Chamber of Commerce in Shanghai, China's competitive advantage is being weakened, mainly due to rising costs. At the time of the 30th anniversary of my country's reform and opening up, we have to face up to this proposition: the so-called comparative advantage of labor force in the past is gradually losing. At the crossroads of transformation, the question we must think about is: Where is China's new competitive advantage?

Textile Industry: "Survival" in Dilemma

The Canton Fair over the years has been regarded as a barometer of import and export trade. However, the 103rd Canton Fair that just ended was called the "declining" Canton Fair by the media. According to reports, the textile and garment exhibition area suffered the most from the Canton Fair this year. Mark, a businessman from Chile in South America, imports a large amount of clothing, shoes, hats and other daily necessities from China every year, but now his scope of procurement is not limited to China, because things in countries such as Vietnam and Bangladesh seem to be cheaper. It is almost impossible for Chinese clothing prices to be as cheap as before.

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