"The Chinese economy is only at the beginning of a harsh winter," says Zhang Hongxia - ...

|By:, SA News Editor

"The Chinese economy is only at the beginning of a harsh winter," says Zhang Hongxia -  chairman of China's largest cotton-textile maker - estimating cotton usage could shrink 11% this year. Normally consuming 600K tons of cotton/year, Zhang's company used just 204K tons in H1. "We are in a worse situation now, (than) compared with 2008-09."