Yiwu Yingming Thread Company Limited

Customer Hotline

86-579-85058002
Home > News > Industry News

Textile industry in the post crisis era where is the way out?

2017-05-02 13:52:52 Yiwu Yingming Thread Company Limited Read

Looking back on the first ten years of twenty-first Century, the world economy presents a big change: China's accession to the WTO; the demise of the multi fiber agreement (MFA); the outbreak of the global financial crisis. These three things are a direct impact on China's textile: as the largest textile exporter, China's accession to the WTO so that it has the real world; and the twisted textile trade system MFA's demise, the principle of free trade in textile trade began to return to the WTO; the global financial crisis in the world textile and textile industry times hit, eventually play the role of economic revival of salvation.

Textile trade is the most basic and the most active part of the world economy. In the past 20 years, the world economy grew by 1 percentage points to the dollar, the world's textile and apparel exports grew by 2 percentage points, while China's textile and apparel exports grew by 4.86 percentage points. Over the past few years, China's textile trade is growing faster than the world textile trade.

Over the past ten years, especially in the financial crisis so that we began to re-examine the role of the textile industry, but also changed the way people think, the status of the textile economy in fact, textile is mankind's livelihood industry, the past is developed and industrialized countries, now or in the future development of Chinese and pillar industry of developed country and has not the competitiveness of the industry, is the springboard for most of the countries of the industrialized city, carries the responsibility in the process of the new city urban population employment, industrial evolution and consumption and market expansion.

The growth of China's textile trade mainly comes from the growth of Global trade in the process of trade liberalization, followed by the price competitiveness. However, in recent years, due to the rising cost of labor and raw materials in China, the competitive advantage of price has decreased significantly in the past ten years. So far, China's textile export growth is mainly dependent on the scale and price competition. In the post crisis era, in order to achieve a new round of growth in China, it is necessary to adjust the industrial structure to optimize the market structure and change the traditional competition pattern.