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Article: Hong Kong's position as apparel exporter could be in jeopardy. (July 1, 1997 reversion to Chinese control may undermine business, according to MIT study)
- Article from:
- WWD
- Article date:
- May 13, 1997
- Author:
CopyrightCOPYRIGHT 1997 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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NEW YORK -- Just seven weeks away from its reversion to Chinese control, Hong Kong's manufacturing industry is at a crossroads.
With more than $21 billion in exports, it's currently one of the world's largest exporters of apparel, but several factors threaten that position.
Aside from the unknown consequences of Hong Kong's reversion to Chinese control July 1, competition from emerging markets, the relative high cost of manufacturing there and the difficulty of maintaining skilled labor are eating away at the region's image of high-end, high tech and high-quality production facilities.
As a result, seeking out new markets, products and technologies will ...