Between 2006 and 2010, the global textile machinery industry experienced the most dramatic cycle that anyone can remember.First, the integration of the textile sector into the general framework of the World Trade Organization (WTO) in 1994 initiated the termination of the traditional quota-regime by the end of 2008. This structural change led to a newsourcing pattern that was based on factors such as prices, lead time and reliability rather than country quotas. Of course, this new trade regime offered investment opportunities in regions and countries that had been restricted, such as China and India.Second, the gradual opening up of the Chinese economy since the early 1980s - and at a later stage, the formal integration of China into the framework of the WTO at the end of 2001 - accelerated the process of creating new investment opportunities in this huge country.
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