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Textile quotas affect many Chinese workers
(Xinhua)
Updated: 2005-06-10 13:53 The recent United States and European Union
textile quotas will likely affect 400,000 Chinese workers in the industry, said
a Chinese official at a forum in Ningbo, a city of east China's Zhejiang
Province Thursday.
Cao Xinyu, vice-chairman of the China Textile Import and Export
Chamber, also predicted that the trade dispute will cost China US$2 billion.
The trade expert criticized the US and EU for their "outdated protectionist
measures" and suggested that Chinese companies adapt their market strategies to
possible global trade conflicts.
He hinted the Ministry of Commerce was formulating a series of administrative
measures to rationalize export prices of Chinese textiles.
A white paper released by the Ministry of Commerce in April said
that China will export US$100 billion of textiles in 2005 amid
difficulties.
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