Chinese_Tetile_Industry.doc

Chinese Textile Industrys Development and Countermeasures Under the Global Financial Crisis ZHOU Qiang, SHENG Baokui School of Economics, Tianjin Polytechnic University, P.R.China, 300387 china_0817@163.com Abstract: Textile industry is not only a traditional pillar industry and an important livelihood industry, but also has more obvious advantages among international competition, and occupies an important position in China’s exports trade. Since the financial crisis broke out, the global economy has been badly hit. Because Chinas textile industry and textile enterprises have their own problems, which make Chinas textile industry face unprecedented challenges. This Paper based on the analysis of textile industrys own problems and the impact of financial crisis, maked a comparative analysis by selecting some of the data in recent years, put forward some strategies finally,that Chinas textile industry should enhance technological innovation and brand building, implementation of management methods and export market diversification, government to strengthen the effort of macro guidance and support, establishment of trade friction arly warning mechanism, to deal with the crisis. Keywords: Financial Crisis, Textiles, Countermeasures 1 Introduction The financial crisis in the second half of 2008, made some major developed countries in Europe and the United States’ economy went into the worst recession, which has brought a heavy blow to many developing countries and regions’ export-oriented economy. As the financial crisis spread to the real economy, the international demand declined significantly. As the largest textile-producing countries in the world, Chinas textile industry has also suffered a dramatic impact. Chinas textile industry had a marked increase tended to decline for the first time after consecutive years of steady and rapid growth. In 2009, the impact of international financial crisis was still lingering, the international market remained in the doldrums, and