GENEVA -- China's problematic and sheltered state-ownedenterprisesin the textiles sector, and other light industries, will be forced to shed millions of jobs, as the country lowers import barriers and slashes industrial subsidies as part of its...
GENEVA--China's problematic and sheltered state-ownedenterprisesin the textiles sector, and other light industries, will be forced to shed millions of jobs, as the country lowers import barriers and slashes industrial subsidies as part of its mandatory obligations for membership to the World Trade Organization, which itjoined in December 2001, according to a recently released U.N. report.China's reliance on low tech, labor intensive plants in the textile sector, could make its textile industry vulnerable to the high tech plant of some of its more industrialized neighbors, the report said.The report said Chinese state-owned industries--like textiles, which employs 5.8 million--are "particularly vulnerable" and argued the dismantling of support measured over a 10-year period is likely to have serious repercussions for the state-assisted sector.The study by the U.N. Conference on Trade and Development pointed out that state-owned ventures in China, which included over 3,000 out of a total of 10,981 companies in the textiles sector at the end of 1999, are characterized by"excessive employment, high inventory levels, low productivity, low capacity utilization, inefficient scales of production and outdated technology."The stated-owned textiles sector in 1999 accounted for 6 percent of China's industrial output and 14 percent of its industrial workforce, it said.In contrast to the tough times ahead for government-owned firms in textiles,UNCTAD's "Trade and Development Report for 2002" noted thatChinesestate-owned ventures in clothing, which in 1999 only numbered about 792 out of 6,611 total companies in the sector, are profitable and account only for a small share of sales.On the plus side, UNCTAD trade economists argued that the removal of subsidies and the reduction of tariffs and hidden barriers, along with the elimination of preferential treatment "will, no doubt, exert considerable pressure on these enterprises to improve efficiency and competitiveness."But the report projected that as China opens up its textiles sector to international competition its state-owned mills will not lose business to labor-intensive textile suppliers in South Asia and South East Asia butrather capital-intensive, high tech textiles producers based in Japan, Taiwan and South Korea.Already Taiwan accounts for about 25 percent of China's textile imports. Korea and Japan account for about 20 percent each.The U.N. review said the shift to capital-intensive methods, mainly robotization, has given advanced economies in the region an edge over China and other labor intensive and low quality suppliers.In addition, the report asserts that the liberalization of the clothing sector in China will also affect the competitiveness of the textiles sector."Liberalization of the clothing imports could shift domestic demand in favor of high-quality clothing," it said. It projected that in the short to medium term, the opening of China's market that should result from WTO membership "could favor rapid growth in imports of textiles."Over 55 percent ofChina's exported apparel is made from imported fabric, according to the report.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)