- Britain Doles Out Fashion Awards
- Christopher Kane, Miuccia Prada Among Honorees at British Fashion Awards
- Walk In My Closet Launches In Europe
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
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
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
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