It’s almost impossible to summarise the dispute between China and most other major trading nations at the WTO.
Though the world’s business press reported in mid-January that Chinese manufacturing costs grew sharply in December 2016, costs for Chinese apparel and textile makers grew far less. In November 2016 – the latest data available – the price per square metre of Chinese apparel arriving in the US was 9.1% lower than a year earlier.
After years of misconceived forecasts it will soon collapse, China’s domination of global apparel exports faces a serious threat – from the Chinese government.
The British Brexit debate, and the aftermath of Trump’s election, are bringing out widely contrasting views of China as a business partner. Some are hopelessly naive.
Theresa May keeps insisting “Brexit means Brexit”. But no-one in Britain can agree what Brexit means, how long it’ll take to get there or what Britain’s trade policy will be once it’s out of the EU.