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Textile
Exports getting competitive
China'
s entry into WTO and abolishing of quotas has lead to
severe price cuts in export prices of textile products.
A sluggish US economy is further favoring demand for
low priced products.
If
the above trend continues, it shall lead to draining
of profits and adversely affect the industry.
Compared
with other competitors, China has less than 35 percent
of the weaving equipment with the technology of the
1990s. The percentage in India and Pakistan has reached
50 percent.
Small
players like Vietnam and Malaysia are strongly contending
for a foothold in the US imports and hence fierce competition
is unavoidable in ensuing months.
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