Letter To The Editor

Clarifying Chinese Export Rebate

We refer to your editorial in Opinion Today entitled "Double Trouble for the Industry" and wish to set you straight on some facts. First, let me say that I am writing from the company Safdie & Co. from Montreal, Canada and this company has been working in home textiles and with China since the early '60s.

Regarding your reference to the Chinese export rebate, please note that the export rebate has gone down since 2005 by 6% for home textile products so it is now at 11%. Furthermore, by all accounts available from the Chinese, there is no clear indication of any further reduction being effected for the coming months. The likelihood of it going down to zero by the end of 2008 is almost nil and, should that happen, it would be the end of many current transactions taking place with China in the field.

Yours Sincerely,

Gabriel Safdie, President

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