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Strategies & Market Trends : Aardvark Adventures

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From: paret	11/2/2004 8:54:00 AM
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(China's) Trouser traders scent foul play BBC ^ \| 1 November, 2004 China's trouser exporters are bracing themselves against the threat of a US trade war aimed at their products. US officials opened an investigation on Friday into whether Chinese trouser makers were pocketing an unfair share of the world market. China's Commerce Ministry said the US move would "severely frustrate China's confidence" in global trade rules. The US move comes as global textile trade patterns are about be unpicked by the end of a 10-year-old agreement. Textile industry analysts expect that China will be the biggest gainer when the Multi-Fibre Agreement expires at the end of 2004. Tight squeeze The MFA spun a complex web of quotas to prevent any single country dominating the world's textile trade, which is worth roughly $350bn (£191bn) a year. China currently has 20% of the global textile trade and 28% of trade in clothing. But the World Trade Organisation (WTO) has predicted that China and India could see their share increase substantially once the quota system lapses. China could triple its slice of the US textiles market to 50%, while India may see its share rise four-fold to 15%. This is because firms will have less incentive to spread their manufacturing processes across several developing countries, becoming more likely to opt for a single more efficient and inexpensive source. US textile producers are in the process of filing 10 petitions calling for temporary quotas and other measures to see them through the transition. The Committee for the Implementation of Textile Agreements (CITA) accepted the first of the 10 petitions on Friday. It will now spend 90 days considering whether to slap quota restrictions on imports of cotton trousers from China. China's National Textile Industry Council said the decision, days before the US presidential election, was politically motivated protectionism. The US has already taken similar action against Chinese-made bras, knitted fabric and socks.

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