Karen’s Korner
Trade, Textiles, Politics, Observation & More | Information & News

We apologize for our brief hiatus … and now back to business …

Take a look at these statements:

“The China textile safeguard mechanism that has preserved millions of jobs around the world will expire at the end of 2008. As of today, there is no means for either the United States or the European Union to stop China once the safeguard mechanism expires.”

“Unless something is done about China in the Doha round, the developing world will lose tens of billions of dollars in exports.”

“The developing world must insist that China’s growth continues to be restrained.”

Cass Johnson, president of NCTO (National Council of Textile Organizations)

Now let’s look at some numbers: The National Council of Textile Manufacturers finds that China will have a 70% share of imports (over items not presently protected by the agreement struck in 2005) in the U.S. and the European Union.

According the NCTO (National Council of Textile Organizations), for items not protected by quotas, China’s dominance was apparent – a 39% share in the U.S. and a 48% share in the European Union – this accounts for an outrageous 23% swing in the U.S. and a 21% swing in the European Union – in the U.S. this amounted to the egregious gain/loss of a little more than $10 billion for 2005 alone.

Imagine again, if you will, a world without quotas – developing nations no longer developing, millions of jobs lost/displaced, countless billions shifting in vastly different directions … or maybe in just one direction…

Now here’s an article that seems to suggest that someone doesn’t see the big picture … positive news is great, but let’s not sugarcoat reality, please.

sources:UPI, Reuters