News from China, home to most of the world’s non-rubber glove manufacturers, seems to be becoming more optimistic. After much anticipation, the Chinese government finally approved changes to the VAT policy. VAT, or value added tax, is similar to sales tax, except that it only applies to the “value added” at each step in the supply chain. Under the changes, manufacturers will be able to utilize investments in fixed assets to help offset their tax burden.

Expect more news in the days to come.