CHINA: Textile Industry Set To Boom
China's textile industry is set for a period of rapid growth according to officials at the State Bureau of Textile Industry. According to one official, Wang Lie, China is about to enter a period of strong textile import and export industry over the next 10 years. He claimed that China joining the World Trade Organisation and the reduction in export quotas in the future would all prove to be beneficial to China's textile industry, and joined with an adjustment in the export structure, would aid growth.
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