Saturday, April 13, 2024
HomeNews & ViewsBusiness FocusCorona impact on China’s Textile consumption

Corona impact on China’s Textile consumption

The spread of the latest coronavirus and its possible effects has reduced the intake of China, more than consolation for the future positive impacts of the trade agreement between the United States and China. China’s intake is modestly reduced on the basis, in part, of the initial outbreak effects of Covid, including prolonged plant shutdowns due to the Lunar Holiday extension. Current effects include slowing across the textile sector as travel limits, plant shutdowns and slowing down market demand for apparel and other goods have reduced the business activity. The uncertain period and extent of these effects overshadows trends in consumption in 2019/20 after last month’s estimate.

Instead, the recent trade deal signed between the U.S. and China has minimized uncertainty by replacing, at least on a short term, the possibility of increasing trade (which has an adverse effect on the cotton sector) with a greater potential to mitigate trade measures implemented during the conflict. The agreement has a positive effect on projected CY 2020 revenue growth and global cotton consumption by raising uncertainty. Remember that China’s recent reduction in some of its retaliatory duties did not help the cotton sector in particular.

YOU MAY ALSO LIKE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Exhibition - spot_img
- Industry Associate - spot_img

Upcoming Events

Simillar News

Recent Random

Newly elected Board of Directors led by S. M. Mannan (Kochi) take charge of BGMEA

The newly elected Board of Directors of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) led by its President S. M. Mannan (Kochi) took...

Technical Textiles Researcher Elected to National Academy of Inventors

United States’ National Academy of Inventors named its 2024 Class of Senior Members. Professor Seshadri Ramkumar of the Nonwovens & Advanced Materials Laboratory at...

USTER solutions- From manual to automated fabric inspection

Step up to assured fabric quality for technical and sensitive applications Uster Technologies offers a flexible solution to upgrade fabric inspection from manual to automated....