Blog: Chinese whispers
Leonie Barrie | 14 January 2004
Talks between US and Chinese officials over the past two days to discuss US safeguard actions on knitted fabrics, dressing gowns and brassieres have ended without resolution. But should we really be surprised that the two sides failed to reach an agreement over just two days of negotiations?
According to the US Embassy in Beijing the two sides are committed to further dialogue on issues related to bilateral textile trade. How likely this is must be open to question though. Sino-US trade ties might be the closest they have been for years, but the strain of maintaining this stance is starting to show. The official China Daily newspaper said China intends to question the legitimacy of the US initiating the safeguards and plans to impose licensing management and electronic data inspections. On the other hand, US officials are determined to restrain apparel imports from China, at least while textile votes still count.
Under WTO rules, if the two sides fail to agree on future action, the US can unilaterally impose quotas for a year. After then, the US’s interest in selling hi-tech goods to China might take precedence. It’s starting to happen already, with a Chinese purchasing group about to sign contracts to buy more than US$2 billion dollars of IT equipment from US firms according to state media reports.
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
The recent bankruptcy of South Korea's Hanjin Shipping, the world's seventh-largest container shipper, at the end of August, has left billions of dollars worth of merchandise in limbo, leaving the fal...
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