The financial turmoil sweeping across the world has plunged the already high-speed growth world economy into a downturn and all countries have injected capital to save their own economies. It is noteworthy that at the same time, new protectionism is on the rise. For the Chinese textile industry, which has long been driven by export growth, it will face new challenges in 2009. Anderson Warlick (Anderson Warlick) is one of the world's largest yarn making companies, therefore, this business does not intend to switch to other businesses. But competition with Chinese products gives them the feeling that they are competing with a foreign government. CEO of Parkdale Mill in Gastonia fears that the competition from China would have been fierce. The competition will be more intense on December 31 after the U.S. expiration of the special safeguard for some Chinese exports expires. This, he said, is a very serious problem that could destroy the textile industry in the United States. His factory has about 2,000 workers in Charlotte and about 4,000 in all. He said that this issue will affect the entire textile chain. Some of China's products are subject to export restrictions, including cotton trousers, golf shirts, baby socks and more than 30 other types of textile products exported from China. According to the WTO agreement, the quota expires at the end of the year and the U.S. government can no longer impose restrictions on Chinese textile products. The textile industry is worried that the situation in 2005 will happen again in 2009 when the United States temporarily lifted the special safeguard on Chinese textile products. Only China's cotton trousers exported more than 1,500% of the U.S. market. The export prices of these products to the United States plunged. In 2005, U.S. textile companies lost about 55,000 jobs, accounting for more than 8% of the total industrial workers. Auggie Tantillo, executive director of the American Association of Manufacturing and Trade said that if we lose 50,000 jobs after we first abolish the quota, we are very worried that things will be equally bad. Keep in mind that setting quotas will reduce unemployment, but the quotas are about to expire. I do not know how many job opportunities will be lost. The face of global trade, the US textile industry employment opportunities have been evaporated. Only a few remaining factories, such as the Parkdale Mills and the Miami Wire Mill in Drexel, which are still producing yarns and sewing threads, are used by the Central American countries to make most of the U.S. clothing and other textiles. US textile industry will suffer a serious blow to Chinese products into the U.S. market in large numbers, while Chinese products do not use U.S. fibers and will further combat the remaining industries in the United States. American companies said they learned to lower their wages in China, but they can not compete with Chinese government subsidies. Chinese government subsidies have effectively increased the competitiveness of Chinese products. The selling prices of Chinese finished products are lower than those of the United States. To ease the possibility of China dumping textiles, some lawmakers called for the International Trade Commission to monitor China's textile products more closely, as quotas are coming to an end. This month, Susan Schwab, the U.S. trade representative, supported the view of the textile industry. She said that China has approved a series of subsidies such as cash prizes and concessional loans for exporters, providing some industries export advantages, including the textile industry. She initially submitted the case to the WTO and asked China to stop the so-called unfair trade practice, but it may not wait for the Obama administration to take the stage before deciding whether to formally prosecute China. If China refuses to stop these non-compliance with trade rules, China will face sanctions such as punitive tariffs. R. Matthew Priest, Assistant Secretary for Textiles and Clothing at the US International Trade Authority, said some industry insiders had already had concerns in 2005. However, he said that even in the quota-restricted period, the number of Chinese exports did not reach the maximum number of restrictions. In addition, Chinese products do not enjoy zero tariffs. In 2008, the average tariff on textile and apparel imports under the special quota control was 17%. Americans benefit from the U.S.-China trade relations. He said people are not aware that China is an expanding export market for U.S. products. Some people may laugh at this, but more and more Chinese consumers need American products. With the expiration of the cover, purchases of trousers, shirts and other clothing by consumers may be reduced. But Amy Daugherty, owner of the mill at Drexel, argues that consumers will not benefit, and she has about 20 workers who make industrial sewing threads. She said if people lose their jobs, they will not buy anything, no matter how cheap they are.