· China dropped prices by average of 48 percent
on the safeguard categories listed above since
quotas were removed on January 1st.
According to United Nations statistics, Chinese prices for major apparel products average 58 percent below average world prices (www.ncto.org: 12/14/04 press release.).
· The Chinese government subsidizes its textile
and apparel exports to the United States in a
number of ways: currency manipulation; export
tax rebates; forgiveness of loans by its
government banks; direct payments to its state-
owned textile and apparel industry, and
subsidized utilities and shipping costs, among
others.
· The Chinese textile and apparel sector has
been declared a “pillar industry of the
nation” and its expansion has been actively
managed by the government according successive
Five Year Plans.
National Textile Council Organization
marketing@alchempro.com
