Home / Knowledge / News / Textiles / China to bag double victory, if CAFTA fails

China to bag double victory, if CAFTA fails

29
Jun '05
In the Multi Fiber Arrangement world of quota-free trade in yarns, fabrics, and finished textiles, the Central American Free Trade Agreement (CAFTA) represents a direct threat to China's growing power—indeed, its near-monopoly—in world textile production.

If passed, CAFTA would enhance the competitiveness of Central American factories that pay higher wages higher than China and predominantly use U.S. cotton. But if CAFTA fails, U.S. cotton exports to Central America will come to an end, while U.S. imports of Chinese textiles—with little or no U.S. content—soar.

The debate over CAFTA encompasses geopolitical as well as trade considerations. Washington's understandable focus on the War on Terror and Iraq has led to the impression in Central America that the U.S. has no time to attend the challenges that the region faces. CAFTA's uncertain passage deepens these worries.

U.S. Assistant Secretary of State for Western Hemisphere Affairs Roger F. Noriega warned last March that China has been translating its economic success—and its search for resources to fuel its economic growth—into greater influence in Latin America and the Caribbean. The real danger that enhanced Chinese influence in Central America poses is not economic, but political and strategic.

For decades, the United States has encouraged and supported forces of freedom and democracy in Central America—with considerable success. Meanwhile, China has reassured the world's despots and tyrants that “each country has the right to choose its own path to development,” whether democratic, totalitarian, or—as in the case of Cambodia in the 1970s and Sudan today—genocidal.


Must ReadView All

Vietnamese side of the border crossing with Hekou, China. Pic:  Klodien | Dreamstime.com

Textiles | On 27th Nov 2021

Efforts on to boost trade between Chinese & Vietnamese provinces

Trade agencies of Lao Cai province in the northwest region of Vietnam ...

Pic: Shaja | Dreamstime.com

Textiles | On 27th Nov 2021

US’ imports of polyester textured yarn to drop in coming months

The US’ imports of polyester textured yarn of HS code 540233 are...

Pic: Tatiyana Akimova | Dreamstime.com

Textiles | On 27th Nov 2021

Sri Lanka’s textile & garment exports on path to cross $5bn this year

After registering a steep fall of 21 per cent year-on-year to $4.423...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Ilker Hacioglu,

Ilker Hacioglu

Founded by three partners of French origin in 1988, LC Waikiki started its ...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Anju Modi, Label Anju Modi

Anju Modi
Label Anju Modi

Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

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

Leave your Comments


November 2021

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


Advanced Search