By Huizhong Wu
Image credit: @nebirdsplus.
Who says that China isn’t good for the US economy?
China is revitalizing the once-decaying American mink fur market. According to Reuters, US exports of mink pelts to China rose to a record $215.5 million last year.
The mink fur market has been declining in recent years because of the global recession, as well as concerted efforts by animal rights groups in both the US and Europe to stop the trade of furs.
A Google search for “mink farms” mostly turns up results of groups against the fur trade such as PETA with only one result that comes from a pro-mink farm lobbying group.
This does not seem to be the case for the Chinese market. In fact, Chinese consumers purchased more than half of all the fur coats sold globally in 2010, according to the Associated Press.
“They just want fur products,” Zhang Lingli, manager of Shanghai Zhichuan Garment Co. Ltd told reporters when asked about her customers.
China’s economic growth in the last decade has led to increased spending among its middle class, especially in luxury goods. A recent report predicted that China will surpass the US in drinking cognac by 2020.