China Facing Severe Apparel Crisis

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19 November 2008 - China's clothing industry is confronted with a severe crisis this year, resulting in an impressive wave of bankruptcies and layoffs. Higher labor costs, a lack of workers and the global economic crisis are weakening the global textile leader. Chinese companies are already adopting new strategies, however, including a shift to higher-priced products and a relocation of production facilities to inland provinces and foreign countries, our special envoy reports.

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