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Nowadays China is the world’s largest apparel exporter and second largest textile exporter. Its economy has the highest growth rate in the world. Foreign-funded enterprises continue to dominate, share of private enterprises improve fairly quickly. High economic achievements made China the most rapidly developing country. Nevertheless, it also caused various problems. Major problems concern the labor force and the pricing system. There is large-scale underemployment, and the fear of the disruptive effects of explicit unemployment is strong. By 2010, rapidly rising wages and a general increase in the standard of living had put increased energy use on a collision course with the need to reduce carbon emissions in order to control global warming. Plethora of efforts was made to increase energy efficiency and use of renewable sources: over thousand inefficient power plants had been closed.
Alongside with export growth, the tendency of talented Chinese designers emerging is being observed. The fact is that these designers are popular not only in China, but all over the world. Jamy Yang’s career path can be a perfect example of how a homegrown China designer can thrive with just the needed amount of foreign influence. If China goes on cultivating promising designers and thinkers like Yang, its future will look really bright.
Shift is impendent according to trade theory. As for China export leadership the question is how much longer it can increase its exports before it loses competitiveness, and what effects that may have for country’s textile and apparel sector. With new designers emerging and constantly growing population it is highly possible that in 2020 we will think of China not as a source of inexpensive labor, but as a center of world fashion.