“I will instruct my Treasury Secretary to declare China a currency manipulator the day I take office” promised Donald Trump on October 22.
Calculated in square metres of fabric, UK total apparel imports in the last six months of 2016 (after the Brexit referendum and its subsequent sterling devaluation) fell just 0.3% over the same period in 2015.
It’s almost impossible to summarise the dispute between China and most other major trading nations at the WTO.
Li&Fung will be dropped from Hong Kong’s Han Seng index of leading quoted businesses from March 6, the index compilers announced on February 12.
US apparel imports (in square metres) grew 3.4% in December 2016 over December 2015, though falls in the previous six months a 2016 annual fall of 1.1%.
China’s income from apparel exports falls dramatically in the second half of 2016. Especially in exports to the UK.
The US dollar value of China’s apparel exports fell year on year by 11.4% in the last six months of 2016: an abrupt worsening of the 4.5% fall in the first six months.
Donald Trump announced on January 14 his abandonment of a central campaign pledge about China.
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.
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.
Taiwan’s Eclat Textile, the country’s largest apparel manufacturer, announced on December 8 it was closing its last Chinese production plant.
Steven Mnuchin, Donald Trump’s nominee as Secretary of the US Treasury, expressed disagreement with Trump’s promised China trade policy immediately after his nomination announcement.
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.
Practically every observer thought Hillary Clinton would win the US Presidential election this morning. Most went on to predict her mild hostility to further trade liberalisation meant the short-term prospects for global trade would be looking uncertain by now.
Donald Trump, though, has been consistent and unambiguous about his trade policy.
US apparel imports from China – measured in square metres of apparel – grew during the second quarter of 2016 0,9% over the same period in 2015, after widespread misunderstandings about a 39% year on year fall in the dollar value of imports during March 2016.
In the first three months of this year, we saw a massive drop in Chinese apparel exports to the US. It doesn’t mean the end of China’s dominance.