American shoppers to pay as Chinese textiles imports face cuts, LDC hopes soar
21 May '05
2 min read
Meanwhile, China which has been accused of currency manipulation of Yuan, received mixed signal from Federal Reserve Chairman Alan Greenspan who was skeptical about re-valuation of the Yuan which may significantly shrink the US trade deficit, saying that it might simply lead to textiles and other goods being imported from countries other than China.
Now this gives rise to renewing or probably restarting sourcing from least developed countries (LDC) that have almost collapsed facing economic disaster, currently.
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