China's Textile Exports Now Resisting

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11 December 2008 - China's textile and apparel exports continued surprisingly rising in November by contrast with a decline in total China's exports for the first time in seven years. Although confronted with US and EU economic recessions and a fall in the euro and the sterling, Chinese exporters may now take advantage of higher rebate rates and the removal of US textile quotas as of January 1st. Beijing is obviously tempted to let the renminbi falling in addition, but could attract some severe retaliation from Washington, as a consequence.

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