World Economy and the Export Dependence of China's Textile Industry |
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Authors: | ZHANG Shen-yong LU Sheng |
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Institution: | [1]Research Center of Textile Economy & Management, Donghua University, Shanghai 200051, China [2]College of Human Environmental Sciences, University of Missouri, Columbia MO 65211 , USA |
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Abstract: | In this paper, the current status of export dependence of China's textile industry and affecting factors are evaluated. A cointegration test for world economy and China's export of textile and apparel is conducted which suggests that a long-term cointegration relationship exists between the growth rate of the world economy and that of China's export of textiles and apparel. The world economy will enter a period of low-speed growth, and the growth rate of China's textile and apparel exports will slow down accordingly. On the other hand, China's domestic expenditures on textiles and apparel are expected to maintain robust growth. According to the trends of exports and domestic demand, the export dependence of China's textile industry will go down with fluctuations. The conclusion is useful to evaluating the performance of the textile industry and making relevant policies. |
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Keywords: | textile industry export dependence world economy |
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