fashion-features
fashion-features

Post-Quota Winners and Losers

WASHINGTON — After unleashing global trade from the restraint of quotas on Jan. 1, the dust is far from settled, but China has lived up to...

fashion-features/news

MEXICO
Down $130 million
Mexico enjoys close proximity to the U.S. market and has tripled its trade with the U.S. and Canada since the implementation of the North American Free Trade Agreement in 1994, but has still lost out in the post-quota world. Fraught with corruption, the country is working on upgrading its infrastructure, modernizing its tax system and rejiggering its labor laws.
Population: 106 million
Labor Force: 35 million
Per Capita Gross Domestic Product: $9,600
Industrial Production Growth Rate: 3.8 percent

SOUTH KOREA
Down $96 million
Having developed a Westernized, service economy and a presidential system of leadership since the close of the Korean War in 1953, South Korea stands in stark contrast to its isolated northern neighbor. Its relatively high labor costs, however, put the country at a competitive disadvantage to China since the end of the quota regime. Anticipating the increased importance of China in the post-quota world, many South Korean textile firms have turned toward increasingly mechanized production and novel goods, such as fabric made from bamboo fibers.
Population: 48 million
Labor Force: 23 million
Per Capita Gross Domestic Product: $19,200
Industrial Production Growth Rate: 10.1 percent

RUSSIA
Down $63 million
Russia weathered a financial crisis in the late Nineties and has grown its economy for six straight years, but is still contending with a weak banking system, a climate that discourages investment and corruption. The U.S. government is also keeping a close eye on the former Communist nation for its weak enforcement of intellectual property laws.
Population: 143 million
Labor Force: 72 million
Per Capita Gross Domestic Product: $9,800
Industrial Production Growth Rate: 6.4 percent

CANADA
Down $62 million
Like Mexico, Canada's apparel manufacturing base has benefited from close proximity to the U.S. market and NAFTA, but has lost ground this year. The U.S. consumes the lion's share, or more than 85 percent, of the country's exports. Canada, however, has a relatively high-cost workforce, especially compared with Asian countries, such as China.
Population: 33 million
Labor Force: 17 million
Per Capita Gross Domestic Product: $31,500
Industrial Production Growth Rate: 2 percent

Page:  « Previous
VIEW ARTICLE IN ONE PAGE
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false