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Textile Industry Trends in the Global Economy

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Length: 3027 words (8.6 double-spaced pages)
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Textile Industry Trends in the Global Economy


I. Executive Summary

The objective of this paper is to examine how the development of a textile industry contributes to economic growth in the global economy. Because textile manufacturing is a labor-intensive industry, developing countries are able to utilize their labor surplus to enter the market and begin the process of building an industrial economy. Emerging economies then look outward to develop an export strategy based on their comparative advantage in labor costs.

Textile production and consumption is an increasingly global affair as production continues to shift to developing countries. Developing countries have seen an explosion in the growth of their textile exports, and for many countries textiles are a significant portion of their total exports. In response to increasing competition from low-value imports from developing countries, industry leaders in developed countries have made significant capital investments in order to increase productivity and move into advanced market sectors.

There are several tr...


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..., Office of Technology Assessment, The U.S. Textile and Apparel Industry: A Revolution in Progress–Special Report, OTA-TET-332 (Washington, DC: U.S. Government Printing Office, April 1987). <http://www.wws.princeton.edu/cgi-bin/byteserv.prl/~ota/disk2/1987/8733/873306.PDF>

Yang, Yongzheng. “China’s Textile and Clothing Exports: Changing International Comparative Advantage and its Policy Implications.” Asia Pacific Press, 1999. http://ncdsnet.anu.edu.au/

<http://usembassy.state.gov/osts/tzl/wwwhtp24.html> [link no longer working]

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