http://service.spiegel.de/cache/international/spiegel/0,1518,328645,00.htmlGLOBALIZATION
Will China be the World's Top Tailor?
On January 1, all import quotas on textiles worldwide will disappear. Worldwide clothing production stands to change radically and entire countries will suffer. China, however, will win big -- the country is poised to nab 50 percent of global clothing production for its factories.
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...Import quotas will be dropped at the beginning of 2005 for all items in the textile and clothing industry. Whether socks or silk scarves, T-shirts, sheets or brassieres -- beginning on January 1, 2005, only one law will apply to every bit of material shipped to Europe or the United States: the law of free trade.
The entire industry, valued at about $350 billion, is about to experience what may be the biggest transformation in its history. Deregulation will lead to massive shifts in global trade, and will make deep inroads into the tightly-woven system of the international distribution of labor, with grave consequences for the world's 40 million, primarily female textile workers.
Third World economies at risk
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