AFTER EXPANDING at an unrelenting pace over recent years, China's cotton and textile market is likely headed for its first contraction in a decade, but signs point to a rebound in the sector in the next marketing year. Already, China is the largest producer, consumer and importer of cotton in the world. But the global contraction in the world economy, coupled with lower cotton prices, dented growth in each area in 2008/09, with ripple effects felt around the world. On the supply side, Chinese farmers are believed to be planting between 6%-12% less land to cotton than last year, implying a smaller harvest this fall.
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