Editorial: Is another global recession around the corner?

The global economy – including the textile and clothing industry – has relied on China as an engine of growth for many years. However, China's ability to fulfil this role in the future is in doubt following falls in Chinese share prices, a slowdown in the country's economic growth and the depreciation of its currency. Such doubts are of major concern to exporters in other countries who have come to rely on rapid expansion in Chinese demand to provide them with growing markets for their own products. In fact, some experts believe that growth in the Chinese economy in 2015 will be at its slowest pace since 1990. At least one reputable organisation is even predicting a decline. This could trigger a global recession in 2016, and a number of other macroeconomic factors are pointing to such a possibility. In this report, Robin Anson discusses the circumstances surrounding the slowdown in China and whether efforts by the Chinese government to stimulate the economy are likely to work. He also discusses other issues, such as the weakness of the economy in the EU, a growing student debt problem in the USA, and the fact that banks have few weapons to combat a recession given that interest rates are already extremely low.

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Reports in Textile Outlook International include:
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