Jan. 26 (Bloomberg) -- Lori Wachs, founder of Cross Ledge Investments, talks about the impact of higher cotton costs on clothing manufacturers and retailers. Cotton futures surged near a record in New York on speculation that demand will increase in China, the world’s biggest user and importer. Cotton prices have more than doubled in the past year as China’s imports jumped 86 percent in 2010, as the economy expanded and adverse weather hurt the domestic crop.