Dumping, currency war, infrastructure, and raw materials are some of the tools used since 2001 by the Asian giant to control global fashion sourcing.
Markets
The minister of economy Roberto Gualtieri has approved a containment package to alleviate the effects of the health crisis on citizens, businesses and factories.
Gap and Fast Retailing, the most affected by the crisis of confidence in international markets. Though, this impact also stretched to giants of luxury or sports fashion who were similarly dragged in the stock market.
The country faces a probable technical recession due to the coronavirus crisis, which mainly affects tourism and exports, sectors that drive the country’s economy.
The sector that leads the ranking of the biggest corporate operations that exceed the one billion dollars mark is health, according to the latest report published by the American consultancy, Bain & Company.
Poland and the Czech Republic have increased their fashion sales abroad by 104% and 99.16%, respectively, in the last ten years.
The World Trade Organization (WTO) has explained that the volume of world merchandise trade fell by 0.2% in the third quarter of 2019.
Fashion commerce in the British market has changed course in the first month of the year following the 3% decline in December.
The Asian country is the second-largest focal point of the coronavirus epidemic, where the Diamond Princess cruise ship is docked and holds a hundred infected individuals.
In January, the country's fashion exports registered a year-on-year increase of 5.8%, according to the latest data from the Istanbul Apparel Exporters Association (Ihkib).
From factories to fairs, the epidemic has put the entire value chain of the fashion business in check, and its impact is still uncertain.
Vietnam recorded a 9.6% increase in its fashion exports to North America while Bangladesh’s sales to the US market plummeted by 1.8% in the last year.
Shaw is a fashion sourcing consultant with an extensive experience in the fashion industry, especially in the region of Africa. The consultant works with small and medium sized enterprises and even government organizations who seek to start a business in Africa.
As of mid-August, the Asian country will have to apply charges on exports of certain clothing and footwear products.
News on the latest macroeconomic indicators related to the textile- and fashion industry worldwide.