From raw material production to goods on shelves-how the global economic slowdown is affecting garment sales.

Release time:

2019-05-05

The process of globalization has brought a good time to the garment industry. But at what cost? OlahInc general manager RobertAntoshak observe the future trend of the industry.

I'm sorry to say this in a personal way: I'm an economist now. Economic growth rates, GDP, trade flows, etc. are all exciting, but then they become boring. Can anyone quickly understand the elasticity of supply and demand or the Gini coefficient (Ginicoefficients)(the calculation of inequality)? But as we all know, it is sometimes necessary to get to the bottom of the problem. Unfortunately, however, an occasional worry about the global economy is also necessary to help explain some of the painful news in our industry, identify problems and provide solutions.

My concern is that the world is entering a period of declining demand for consumer goods. Something happened a few years ago, and that was globalization. Just as a machine needs maintenance, imagine "globalization" is a lubricant that can promote the normal operation of international trade gears. When time goes by, the gears will wear out, resulting in slower transmission speed. Global economic growth is therefore the most direct measure of overall global economic performance. As stated in the reports of the International Monetary Fund (IMF) or the World Trade Organization (WTO), it is essential for countries to grow and maximize their economic potential. Since growth is key to expanding trade, this in turn helps more countries to develop their economies. As economic growth has moderated, consumer spending has also declined.

Some readers might think that I would go and blame factors such as President Trump or Brexit for the slowdown. But in fact, the point of condemning lapses is that they are the crux of these problems. Of course, one could point to the Great Recession (GreatRecession) in 2010, and even then, the systemic problems were more of a problem than a one-off event with global implications.

In fact, politicians such as these have long relied on ideology rather than pragmatically defending the global business system in the first place. They forget, or choose to ignore, that global developments need to be monitored.

After all, global trade, open markets, currency and investment flows are not expected to happen and have no adverse consequences unless there is a degree of fundamental reassessment. The infrastructure and hypothetical questions about the global trading system occasionally need to be adjusted, otherwise the imbalances in the mechanisms of globalization will spill over into the system we live in today.

On the issue of economic growth, the global economy is slowing down. Since the mid-1990s, global economic growth has been weakening.

In the early 1990 s, I participated in WTO negotiations on behalf of the US textile industry. During this period, members of the delegation said that all countries were in the inflation crisis in the 1970 s, and WTO was the only way to solve the problem of the world economy out of the trough. GDP has not grown over time.

More importantly, negotiators representing the U.S. government are trying to reach a big deal: reduce or abolish trade barriers, which will encourage the expansion of new industries in developing countries while providing low-cost goods to consumers in developed countries. This is the basic goal of the WTO-any can be a winner. Our government negotiating team says there are no other options. The full opening of the market is the slogan, and little effort has been made to solve the thousands of textile workers who may lose their jobs due to the opening of the market.

When I think about it, it's extremely ironic that so many blue-collar workers chose to vote for Trump as president of the United States, and now we have to deal with the consequences of that.

Therefore, many countries joined the WTO. The WTO was established with great fanfare on January 1, 1995. As a substantial protector representing free trade and open markets, it is believed that the WTO can achieve the economic growth of all countries and keep their countries away from poverty and violations of law and discipline. Therefore, many countries have joined the organization. But after all, the WTO is just not the organization that many people always think it is.

Chinese Academy of Engineering co-opted academician, textile field 5 people included in the list of valid candidates

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