Experts On The Impact Of Financial Turmoil On The Textile Industry

Experts on the impact of financial turmoil on the textile industry

After the cost of labor, the price of raw materials, and the price of electricity, many Chinese companies are still able to get orders and profits because they have built their own brands.

Alibaba Group Chairman and CEO Ma Yun recently made a market research in Guangdong, and found that Chinese enterprises began to pform successfully in the face of crisis.

One reason for the elasticity of Guangdong's exports is its diversification and influence.

Tom Mitchell of the financial times (Tom Mitchell) believes that the diversification of industries can effectively cope with the pressure brought by the export weakness of the clothing industry. "Tom"

The most immediate consequence of Lehman brothers's bankruptcy protection and the acquisition of Merrill Lynch is that financial institutions will tighten their money. Lending will be extraordinarily cautious. Interbank lending will be more difficult and mortgage interest rates will rise accordingly.

&#8226, the chief financial officer of the global development finance report and the world bank's international financial director, Lehman, in an interview with Xinhua, analyzing the impact of the bankruptcy of the brothers on the financial industry.

China's recent price rise is a fact. The pressure of inflation continues to increase. It is also true that China's exports will probably increase in price, so that the prices of imported goods that are imported from developed countries, especially the United States, will keep rising.

Xu Mingqi, deputy director of the Institute of world economics, Shanghai Academy of Social Sciences, believes that China is definitely not the source of external output of inflation.

When the west is facing the financial crisis, I personally hope that everyone will pay more attention to the issue of China's financial reform. We have some paths to go, and we must go towards the market to build a global competitiveness.

Fang Gang, an economics professor, said that we should accelerate the pace of reform. The US financial crisis is more difficult than China.

The turmoil in the US financial sector will inevitably exacerbate the credit crunch in the real economic sector. The turbulence of global financial institutions will directly impact on the financial markets and substantive economic sectors of many countries, including the local textile industry.

Mei Xinyu, an Associate Research Fellow of the Ministry of Commerce, believes that China's textile industry should respond to the impact of the US financial crisis by expanding domestic demand, increasing national income and improving consumption capacity.

The spread of the US financial crisis has two main impacts on China's textile industry: first, the proportion of the US share of the global market has shrunk, and two has caused the global market to shrink.

Ma Wenfeng, an analyst from Eastern Ireland, believes that the spread of the financial crisis in the United States has affected the economies of Germany and the United Kingdom, which have sped up the EU's economic development. The economy has been shrinking and consumer demand has declined significantly. China's textile and clothing exports will face the shrinking of the global market.

At present, major textile groups in the United States have put forward various plans, including countervailing investigations, anti-dumping investigations, and safeguard measures for specific products.

A senior industry editor believes that trade protectionism is likely to make a comeback under the influence of the US economic crisis.

Unfortunately, if only on the surface, emerging market countries may learn the wrong lesson.

Eswar Prasad, an economics professor at Cornell University, believes that lessons should be learned from the US financial crisis.

The global economy is now at a very difficult node, but the possibility of a global recession is unlikely.

PWC Global CEO Dipaza believes that the financial turmoil will promote the development of emerging market economies.

China's economy, and more broadly the Asia Pacific economy, will find a way to cross this script src=>