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Article: Cheap imports kill mills as wharf fare heats up.(TAR HEEL TATTLER)(China and Wilmington's imports.)
- Article from:
- Business North Carolina
- Article date:
- June 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Business North Carolina. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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During the past 10 years, Tar Heel textile makers have closed factories, laid off workers and moved a good portion of what production they have left offshore. The most-cited reason: a glut of cheap imports. But imports--combined with good timing on a channel-dredging project--have caused a boom for another segment of the state's economy.
Traffic at the state ports in Wilmington and Morehead City was up about 25% for the first nine months of the fiscal year that ends in June. Much of the increase has come since January, when China's admission to the World Trade Organization eliminated tariffs on its goods. Among the fastest-growing imports are textiles, furniture, ...