A review of the article "China's Economy: U.S. and E.U. Get Tough on Textiles".
Written in 2005; 900 words; 5 sources; $ 35.95
Paper Summary:
"This paper discusses an article from the Economist Intelligence Unit, a publication of The Economist, entitled "China's Economy: U.S. and E.U. Get Tough on Textiles" as it relates to the price pressures on apparels in the U.S. market. These issues are examined from a macroeconomic perspective with an emphasis on Keynesian and neo-classical macroeconomic theory.
From the Paper:
"Following the end of quotas on textile imports from China as of 1 January 2005, both the United States (US) and the European Union (EU) have witnessed a massive influx of textile imports from China: "U.S. imports of Chinese clothing swelled in January, a rush of new products following the end of international quotas that for decades had limited global apparel trade" (Chinese, 2005, para.1). While increases have been across the board, three categories in particular have seen huge increases: cotton knit shirts, blouses and cotton trousers, and these have been targeted for renewed protectionist quotas by both the US and the EU (China, 2005, para.2). "
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