Textile industry of China, once a trail-blazer now trailed behind by other Southeast countries, is losing its hold from the international markets.
Anti-dumping duties imposed by the US and EU, RMB appreciation, and cost rise in energy power and labour have pushed the country back in second lead followed by developing countries like Bangladesh and India.
Earlier the country used to enjoy the status of global textile leader with producing one third of total output. The monopoly of Chinese textile industry is gradually disappearing.
However, Chinese textile industry is at the bottom of global textile industry chain. Most enterprisers earn a little processing fee from the globla trade.
Experts opined that the industry urgently needs innovation in technology and products.
Anti-dumping duties imposed by the US and EU, RMB appreciation, and cost rise in energy power and labour have pushed the country back in second lead followed by developing countries like Bangladesh and India.
Earlier the country used to enjoy the status of global textile leader with producing one third of total output. The monopoly of Chinese textile industry is gradually disappearing.
However, Chinese textile industry is at the bottom of global textile industry chain. Most enterprisers earn a little processing fee from the globla trade.
Experts opined that the industry urgently needs innovation in technology and products.
