China's bomming economic growth rate of 8.5 percent per year, if unabated, will result in consumer purchasing power roughly equivalent to that of the United States by the year 2020. As per capita personal income in CHina increases, so does CHinese per capita fiber conusmption. Anslysts predict the tonce the per capitapersonal income in China reaches $1,000, the purchasing habit of Chinese consumers will change radically. Already, more than 60 percent of Chinese urban dwellers claim that their motivation for purchasing apparel is driven by fashion rather than utility. Although enormous potential exists for foreign investment, China's textile and apparel markets will remain volatile for some time due to rising political and social tensions, the restructuring of state enterprises, banking reforms, shifting tax and exchange rate systems, and international trade disputes. Even though there are an increasing number of joint ventures between foreign investors and samll, collectively owned village enterprises, most Chinese textile companies remain state owned.