BEIJING: Chinese reaction to a textile trade deal signed with the United States ranged from relief to bitterness and uncertainty on Wednesday as Chinese exporters waited for details of the new quotas. The deal that Chinese Commerce Minister Bo Xilai and U.S. Trade Representative Rob Portman sealed on Tuesday limits Chinese exports of 34 clothing and textile categories, such as shirts, trousers and underwear, for the next three years. "The deal struck over Chinese-U.S. textile trade will create a

New Delhi, Nov. 9 (PTI): Textiles Minister Shankarsinh Vaghela on Tuesday announced new initiatives to improve the handloom sector. Speaking during the second All-India Handloom Board meeting here, he spelt out the 'Integrated Handloom Cluster Development Scheme', which aims at development of handloom clusters and adopting an inclusive and holistic manner to build their capacity. The scheme is being introduced in 20 handloom clusters at a cost of Rs 40 crore, he said, adding that it would su

WASHINGTON (MarketWatch) - The U.S. and China have reached an agreement to limit Chinese imports of clothing and apparel until 2008. U.S. Trade Representative Robert Portman praised the agreement, saying it would give retailers needed predictability in planning their apparel purchases and at the same time give textile communities three years to prepare for open competition from China. "I believe this textile agreement is an example of how the U.S. and China do have the ability to resolve tough

Chinese President Hu Jintao will kick off a European tour on Tuesday with stops in Britain, Germany and Spain, while Premier Wen Jiabao will visit four EU countries, including France, in early December. "This is evidence of China's increasing influence on the world stage," says Gilles Guiheux, director of the French Center for the Study of Contemporary China in Hong Kong. A diplomatic offensive. Bildunterschrift: Gro?nsicht des Bildes mit der Bildunterschrift: Chinese president Hu Jintao will

WASHINGTON (AFX) - The US textiles industry called for new WTO curbs to prevent China wiping out the rest of the world's fabric and clothes production in a few years. While welcoming a newly agreed textiles trade deal between China and the United States, US industry leaders said the booming Asian country's 'unfair trade practices' had not gone away. In a conference call with reporters, they highlighted what they called China's 'manipulation' of its exchange rate, its alleged subsidies to manufac

The volume measure of gross domestic product increased by 2.3% in 2004-05, reports Australian Statisics Bureau release today. The 2004-05 result is weaker than the average growth of 3.7% seen over the last ten years. This reflects relatively weaker growth in private gross fixed capital formation in 2004-05 and continued strong growth in imports of goods and services. Key volume movements in expenditure on GDP in 2004-05 were: Growth in all components of household final consumption expenditure (u

September witnessed a decline in Japan's monthly production of polyester staple fiber and filament. The decrease was 10.2 percent at 22,066 tons and proved weakest within the sector.With September output registering a never-before low, monthly production dropped for ten successive months. From January to September total polyester filament production reduced by 5.6 percent to 211,911 tons.Polyester staple declined 1.9 percent to 17,785 tons in September. The nine month January-September total pol

WASHINGTON -- U.S. textile industry officials expressed support Monday for a plan to limit imports of Chinese textiles and clothing over the next three years. The trade deal was to be announced Tuesday by U.S. Trade Representative Rob Portman and Chinese Commerce Minister Bo Xilai in London. Cass Johnson, president of the National Council of Textile Organizations, was among industry officials briefed on the agreement ahead of the announcement. He said it meets the industry's key demands for pr

China and the United States are close to an agreement on the textile frictions, with hopes that the two-way textile trade situation will soon be stabilized. Anonymous US officials were quoted by AP (Associated Press) as saying that the two countries had made agreements on certain principles at the seventh round of talks on this issue, held last week in Washington. They said the deal, similar to the one between China and the European Union signed back in June, would govern China's textile exp

South Africa's clothing industry will not be protected from surging Chinese imports. Trade Unions and manufacturers have urged Pretoria to invoke safeguard measures. The government believes industry should instead be more dynamic. The textile crisis is also being blamed on the strong rand. The South African government has told industry and trade unions it will not be pursuing safeguard measures to limit cheap surging Chinese apparel imports. No China confrontation Soaring Chinese imports have