Iowa Public Television


WTO: China, India to Dominate Textile Market

posted on August 13, 2004

China and India are expected to dominate world trade in textiles and clothing starting next year when the United States and other industrial countries have to remove restrictions on imports, according to the World Trade Organization.

The WTO predicts that China alone will account for more than half of the global textile market following the end to the quota system that has governed international trade in textiles since the 1960s.

The WTO-negotiated agreement will allow producers to export as much as they can sell. A WTO report contends that will be a lot more than any developing countries are selling now.

Tags: China India news trade