On February 2nd and 3rd, USFIA and several member companies stopped in Beijing for the China & Asia Textile Forum to discuss the outlook for the Trans-Pacific Partnership—and China’s “new normal.”
Hosted by ECV International and the China Chamber of Commerce for Import & Export of Textiles (CCT), the China & Asia Textile Forum brought together top minds from textile and apparel associations from Asia, Europe, and the United States, textile manufacturers from China and overseas, and textile and apparel sourcing brands to share ideas. USFIA was pleased to support the event along with our International Affiliate, the Taiwan Textile Federation.
USFIA President Julia K. Hughes speaks during the 2015 China & Asia Textile Forum in Beijing (Courtesy Photo)
Among many interesting discussions, the attendees took a look at the impact of the fact that the textile and apparel industry in China is facing a “new normal.” There no longer is sustained and rapid growth. For the first time in many years, textile and apparel manufacturing in China grew by less than 10 percent. This shift is matched by concerns about overcapacity throughout the industry—and expectations that there will be substantial consolidation in the next few years.
Where do Chinese exports of textiles and apparel go?
19.6% to European Union
15% to the United States
11.9% to ASEAN region
8.3% to Japan
6% to Latin America
USFIA President Julia K. Hughes spoke about the outlook for TPP and trade and sourcing trends in the United States. Her PowerPoint presentation is available for download here.
Stay tuned for details about the 2016 event!