April 2007


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Sino-Pak textile business continues to grow (China)

 

Commercial ties between China and developing nations, including Pakistan, was undertaking subtle changes as competition among then got increasingly fiecer, said a Senior Trade Official. Citing textile as an example, Vice-Minister of Commerce Wei Jianguo said if China’s textile exports continued to grow 21% yearly with Pakistan, Bangladesh and Cambodia, climbing 5% on average, China would take over more than 80% of the textile export market of the developing nations by 2020. Such export boom of China would add pressure to the employment and development of other developing countries and lead to more frequent trade disputes.

China’s foreign trade volume may probably count as the worlds largest provided its export growth keeps outpacing the world average by 4% to remain above 10% in 15 years. The Asia’s second largest economy reached $ 1.42 trillion in imports and exports last year, the third largest only after the US and Germany.


 

 
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