GENEVA — The World Bank forecasts that growth will stay robust this year in China, Cambodia and Vietnam, which are all dynamic, key exporters of apparel.
The semiannual analysis of economies in East Asia and the Pacific concluded that export growth in China "remained very strong in early 2007," and that exports continued to outpace imports "by a wide margin through February." World Bank economists said their projection of gross domestic growth for China in 2007 was 9.6 percent.
"Continued productivity growth and a resilient world economy promise only a minor export slowdown," the study said.
Last year, Chin's growth increased 10.7 percent and its external surplus, boosted by vibrant exports, reached new highs. Chin's current account surplus surged last year to an estimated $230 billion, up from $161 billion a year earlier, and its foreign reserves reached $1.06 trillion, the report said.
A positive outlook also was projected for Vietnam, partly because of the boost the economy has received from its recent entry into the World Trade Organization and the granting of permanent normal trade relations status by the U.S. in December.
In 2006, foreign direct investment surged to $10.2 billion and export growth expanded by 22.8 percent, buoyed by apparel and footwear. Economic growth this year is projected to expand by 8 percent, slightly less than last year.
World Bank economists also project a stellar performance for Cambodia, with an economy — boosted by growth in the key pillars of apparel exports, tourism, construction and agriculture — that was forecast to expand by 9 percent, compared with 10.5 percent last year.
However, the report said Cambodi's apparel sector was facing intensified competition because of Vietnam's accession to the WTO and the possibility of greater competition from China next year, when safeguard quotas with the U.S. expire.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews