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Jun 10, 2005 -- Chinese clothing imports mean lower prices
If you like buying clothes, the perfect situation is coming your way. For years, there were quotas on how much clothing one country could send to another. But that went away in recent years and, since then, the amount of clothing coming into the U.S. is up 550 percent. The Communist Chinese clothing makers have the most efficient system and the oversupply of clothes is mind boggling. Stores are figuratively flooded with clothes, so the savings will be passed on to shoppers in the States. You may not notice it yet, but clothing is becoming a smaller and smaller portion of our budget because prices are so low.
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