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Article: REPORT: LOW-WAGE NATIONS IMPORT SHARE TO SURGE.(Industry Overview)
- Article from:
- WWD
- Article date:
- June 3, 2004
- Author:
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Scott Malone
NEW YORK -- The world's 58 lowest-wage nations will hold a 67 percent share of the U.S. garment market by 2011, growing from the current 41 percent, according to a new study.
The report, called "Facing the Dragon: Prospects for U.S. Manufacturers in the Coming Decade," also forecast what many in the industry have been fretting over: the U.S. apparel manufacturing industry will be hit hard by the growing exports of the world's poorest nations following the dropping of quotas among the 147 nations of the World Trade Organization on Jan. 1.
"Basically, it's bad news when a country like China enters your market," said Andrew ...