Chinese exports down 10 percent

Exports from the Chinese textile and garment industry will experience the largest drop in 30 years, as the China National Textile and Apparel Council is projecting a 10 percent decline by the end of 2009. A slight pick-up is expected in the last few months of 2009, related to the Christmas holiday and exhausted foreign inventories, but the faltering world economy continues to influence the decline of the $100–120 billion dollar Chinese export business.