Interview with Mao Kailin, China Director of the International Cotton Association (CCI), reduced orders, reduced cotton prices, and reduced planting area. How does the US cotton industry face various challenges? As an old friend of China's textile industry, Ms. Mao Kailin, China Director of the International Cotton Association (CCI), said in an interview with Textile and Apparel Weekly that the impact of the financial crisis on the United States is not as serious as imagined. China is still a US cotton. The largest market, US cotton and the Chinese textile industry will continue to maintain stable cooperation.
The impact of the international financial crisis continues. China's textile and apparel exports fell 14.78% year-on-year in the first two months of this year, and the first negative growth in the past eight years. The cotton import, which is closely related to the development of the textile industry, also experienced a sharp decline of 46% in the first two months. US cotton has always been the main source of cotton imports in China, and the shrinking market has made the US cotton industry face great difficulties. With the reduction of orders, the fall in cotton prices, and the reduction in planting area, how can the US cotton industry face various challenges? Recently, the "Textile and Apparel Weekly" reporter interviewed Ms. Mao Kailin, China Director of the US International Cotton Association (CCI).
The financial crisis has not deteriorated. Reporter: The financial crisis caused by the US subprime mortgage crisis triggered a contraction in global trade. What is the current situation in the United States, what changes have occurred in the market, and are there signs of recovery?
Mao Kailin: The financial crisis that started last year has had a great impact on the global consumer market. The United States is even more so. The most intuitive performance is that everyone is not willing to spend money. Americans and Chinese people have different spending habits. The American idea is to consume in advance, while China advocates saving. But now, Americans are also starting to save money and get used to buying cheap clothes. The decline in consumption will inevitably affect the development of the textile industry. Just as China's textile exports have fallen, American cotton merchants have faced great difficulties due to the decline in textile exports and even went bankrupt. However, the US economy has developed steadily for hundreds of years, and its economic situation is much stronger than during the Great Depression of the early part of the last century. Compared with the last economic crisis, there has not been a very bad situation in this financial crisis.
Looking at whether the US economy is recovering depends on the American home purchase index. The financial crisis stemmed from mortgages, so the changes in the real estate market are an important factor in determining whether the economy is improving. At present, some economists in the United States say that the economic recovery may be faster than people expected. The situation will be better in the second half of the year. The key is to look at next year. This is good news. But some people have reminded that it is better to be careful.
Looking at the downturn is the key to consumer journalists: How can the US cotton industry respond to the current sluggish market?
Mao Kailin: The US cotton industry mainly faces the export market. It is really affected by the financial crisis. However, the United States has always been the world's most important cotton producer and exporter. Planting, consumption, export and inventory are always among the highest in the world, and the development of the industry is also After experiencing the effects of multiple economic fluctuations, the ability to resist risks is also stronger.
As an important textile raw material, cotton accounts for 80% of the world's natural fiber use. Therefore, the market space for cotton is still very large. In the current difficult period, what we have to do is to analyze, adjust and improve. The financial crisis may cause some trouble for many small companies, but some well-developed large companies will adjust to new development opportunities. In addition, market analysis should be done to capture new changes in the market. Of course, the last thing to do is to improve our supply chain in response to market changes. Whatever measures are taken, it is important to increase the consumer's clothing consumption. China has introduced a textile revitalization plan and proposed to develop a domestic demand market. In the current market downturn, we will continue to strengthen cooperation with the Chinese textile industry and play a more active role in the supply chain.
Cooperation with China continues to be stable: China is the largest market for US cotton. The Chinese textile industry is affected by the international financial crisis and faces a sharp decline in exports. How do you view the Chinese market? What new initiatives are in the cooperation with the Chinese industry?
Mao Kailin: China's textile industry is actively promoting the contribution rate of technology and brand. This is necessary for the Chinese textile industry to overcome the current difficulties and maintain the long-term stable development of the industry.
The cooperation between US cotton and China also includes these two aspects. For example, US Cotton has developed a number of fabric finishing technologies to help Chinese textile companies improve product quality, improve product functions, and enhance their product competitiveness. US cotton has cooperated with many Chinese companies to authorize them to use US cotton hangtags to increase product added value. Not long ago, at the textile exhibition held in Hong Kong, although the number of buyers who bought the goods decreased, the business of many of our authorized companies is still good. This seems very unusual. In fact, these authorized companies have won the favor of buyers by relying on product quality and features. At the same time, we take advantage of the many world buyers resources that the association has, and hold regular meeting of buyers and sellers to make Chinese companies directly connect with buyers in the United States. Our Shanghai office is engaged in this “work-making†job every day.
In addition, we are constantly studying changes in China's consumption trends. Among young people in Europe and America, the concept of LOHAS is now deeply rooted in the hearts of the people. This is a lifestyle that advocates health and is close to nature. It advocates more attention to health and responsibility for the ecological environment in the choice of consumption. In the future China, more and more people will support the LOHAS concept.
This year coincides with the “Natural Fiber Year†initiated by the United Nations, and we will also launch a series of “Natural World†themed events.
China's domestic demand market has great potential. Reporter: Do you have anything to say to Chinese textile companies?
Mao Kailin: At the just-concluded G20 summit, countries reached broad consensus on joining hands to overcome the financial crisis. The Chinese economy is more dynamic than the European and American countries, and the domestic market has great potential. We cannot lose confidence. This year, US cotton will continue to strengthen cooperation with Chinese textile companies in technology and brand to help them reach more buyers and expand into new markets. I believe that after this painful period, China will continue to lead the development of the world textile industry, and we will continue to provide China with US cotton products in a stable manner.
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