Research Of The Impact That European Debt Crisis Brings About On China’s Textile And Garment Export

Since October2009，Greece’s sovereign-debt crisis kicked off, later fourcountries Portugal, Italy, Ireland and Spain are in immersed in sovereign debt crisisand it spread to every country in the EU. The European debt crisis led to the outbreakof the global economic slowdown, China as an export power country significantlyaffected in the crisis, particularly labour-intensive products. Textile and garmentgoods is typical labour-intensive industries in China, from the production, processing,the product for export it requires a lot of labor and the impact is enormous in thiscrisis.This paper begins with an analysis of the characteristics of the European debtcrisis, then expound the case of Zhejiang zhongda group in the large groupdevelopment situation and problems faced by exports of textile and apparel goodsunder the European debt crisis, and expound the general situation of China’s textileand clothing exports and its exports to the EU by data and statistics. Subsequently,analysis of the European debt crisis on China’s exports of textile and apparel goodstrade pathway and its effect by price theory, income theories and trade protectionism.On the basis of this analysis，pointed out problems in China’s textile and garmentexport under the European debt crisis. Through the analysis found that China’s textileand apparel products export is facing internal profit squeeze pressure and externalexport of dual challenge.China’s population aging speed leads to the cost of the product rise, and theenterprise face greater exchange rate risk under the appreciation of the RMB，theenterprise internal profit compression In order to protect their enterprise developedcountries lead to the new round of protection polices, China’s export of textile andapparel goods facing a major crisis.This paper focuses on factors that restrict theexport of China’s textile and garment industry has made several suggestions. Expanddomestic demand and reduce textile dependence on external; Pushing”brand strategy",take the road to innovation, creation of own brands with international influence toenhance international competitiveness; Application of financial tools to evade forcedappreciation of the Renminbi exchange rate risk enterprises; Face growing tradefriction should work closely with the Government to respond to; In addition weshould also vigorously implement the "go global” strategy to expand into new marketsthus avoiding barriers to trade and increase exports...