Home / Knowledge / News / Textiles / Textile sector to become global sourcing destination
Textile sector to become global sourcing destination
31
Aug '09
Comparatively speaking, China is bound to be a future engine of world economic growth and there are two indicators worthy of attention, which speak of whether a country has potential of economic growth in the future.

The first is political stability and second is demographic factors. The future of China as far as politically stability is concerned is assured, as the economic growth witnessed in previous years, is more so to do with stability, than anything else.

On question of demographic factors, the core factor which stimulates an economy is consumption, age and income of consumers. The average age of China's main consuming section is between 30-40 years.

Against this, the range of main consumers in Europe and the United States is between 45-55 years. The age group between 30-40 is supposed to be key spenders, while those between 45-55 are expected to be reserved while spending, which gives China an advantage.

Currently all countries in the world are stimulating domestic demand and consumer goods markets, but no matter how they carry out stimulation measures, first of all, it will rely on potential growth of these countries in the future.

In Europe, older people are much more than young people, birth rate in many countries is lower than mortality rate, while China is the country with the best economic performance among the BRIC countries.

As long as incomes are growing, China's domestic market will undergo economic transformation and change from the world's factory to a consumer power.

China's market is also projected to become an epicenter in textiles and clothing. But, to develop a stronger base, the companies will also have to strengthen their domestic markets, which will make it easier for them to access overseas markets.

Chinese textile and garment companies are also acquiring overseas companies at a healthy pace, but successful integration of operations remains a challenge, due to the cultural differences.

Fibre2fashion News Desk - China


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Courtesy: Heimtextil theme-park

Textiles | On 17th Dec 2017

Heimtextil’s Theme Park to offer multi-sensory impact

Titled “The future is urban”, the Theme Park at Heimtextil during...

Courtesy: Honeywell

Textiles | On 17th Dec 2017

Honeywell acquires 25 pc ownership interest in Flux

Honeywell has acquired 25 per cent ownership interest in Flux...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Urmil Arya

Sushila International, a well established textile organisation established ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search