SHAOXING – Textile manufacturers in China have ramped up their production volumes amidst fears that by the end of the year, repercussions of the ongoing trade war with the USA could cripple exports potential.
This, from research and consultancy firm Wood Mackenzie, coincides with figures from the recent IHS Markit Business Outlook Survey that highlights ‘China business activity expectations’ have dipped to less than 10 per cent comparative to a spike of more than 60 per cent only a decade ago.
In an effort to minimise the severity of export damages, manufacturers in the sector are scaling up quantities for export earlier in the year in order to mitigate what could spell huge financial losses.
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