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1、TradeliberalizationandpatternsofstrategicadjustmentintheUStextilesandclothingindustryBelaySeyoumU.S.A.TheoverallenvironmentfacingtheUSTCindustrywillbeoneofrapidlychangingmarketconditionsandtechnologicalinnovation.Withthephaseoutofquotasandgrowingnumberoftr
2、adeagreements,theUSTCindustryisbeingexposedtointensecompetitioninexportanddomesticmarkets.Thisislikelytoleaddomesticindustries/labortodemandinterventionbynationalgovernmentstomitigatetheadverseimpactoftradeliberalization.Chineseleadershaveexpressedstrongop
3、positiontooutsidepressureontheircurrencypolicy,callingitaformofprotectionismandinterferenceinChina’sdomesticeconomicpolicy,andsomehaveevenquestionedwhetherthecurrencyisundervaluedatall.However,onJune19,2010,theChinesecentralbank,thePeople’sBankofChina(PBC)
4、statedthat,basedoncurrenteconomicconditions,ithaddecidedto“proceedfurtherwithreformoftheRMBexchangerateregimeandtoenhancetheRMBexchangerateflexibility.”Itruledoutanylargeone-timerevaluations,stating“itisimportanttoavoidanysharpandmassivefluctuationsoftheRM
5、Bexchangerate,”inpartsothatChinesecorporationscouldmoreeasilyadjust(suchasthroughupgrading)toanappreciationofthecurrency.ManyobserverscontendthetimingoftheRMBannouncementwasintendedinparttopreventChina’scurrencypolicyfrombeingacentralfocusoftheG-20summitin
6、TorontofromJune26-27,2010.OnJune22,2010,theRMBappreciatedby0.43%againstthedollar(to6.80yuan)overthepreviousday,which,atthetime,wasthelargestdailyrise5.1-9,,services,andmakethecitymoreattractive,strengtheningpublictransportinvestment,establishedasthebackbon
7、eoftheurbanrailtransitmulti-level,multi-functionalpublictransportsystem,thusprotectingtheregionalpositionandachievesincereformswereimplementedinJuly2005.However,onthefollowingday(June23)itdepreciatedto6.81yuan.AsindicatedinFigure3,theyuan’sexchangeratewith
8、thedollarhasgoneupanddownoverthepastfewmonths,butoverall,ithasappreciatedby1.9%throughOctober1,2010,withmostofthatappreciationoccurringinSeptember.3SomeanalystscontendthattheappreciationofthecurrencyinSeptemb
