F
or decades, the United States was the driving force behind the world economy. Whatever
happened in the US economy had a strong influence on the global flow of goods and products. The
most prominent example is the global financial landslide of the past 18 months. However, on the
other side of the ocean, an economic power has started to dominate – China.
China has become a world factory in general, and for textiles in particular. For the textile
machinery industry in the West, China has turned out to be a very important market, and the country
has matured into an important exporter of textile products as well. The textile industry in China
plays a significant role in providing employment, meeting huge domestic demand, and promoting trade
and economic cooperation.
Following its accession to the World Trade Organization, China has become even more linked
with the global financial system, and has also been hit by the recent financial problems. However,
China, blessed with a domestic market of 1.3 billion people, seems to overcome the problems,
reporting an increase of nearly 8 percent in gross domestic product in the first six months of this
year.
In this context, Shanghai plays a vital role and is undoubtedly one of the booming power
cities in China. In the greater Shanghai area, textiles play an important role. Last year, Shanghai
and ITMA Asia were the center of attention for the global textile community.
Another important event is set to take place in Shanghai – the 2009 Annual Conference of the
International Textile Manufacturers Federation (ITMF), to be held October 23-25. In 2008, ITMF
welcomed China as a new member, and to celebrate, member association China National Textile &
Apparel Council (CNTAC) will host the conference, and is inviting delegates from textile companies
all over the world to Shanghai. The event is considered to be the most important annual gathering
of the global textile industry.
Textile World Asia
and its sister magazines,
Textile World
and
Textiles Panamericanos, are proud to have been chosen as ITMF’s official media
partner for this conference. Welcome to China, Nihao to Shanghai.