An analysis of the implications of the expiration of the Agreement on Textile and Clothing (ATC).
Written in 2008; 2,381 words; 9 sources; MLA; $ 73.95
Paper Summary:
This paper discusses and analyzes the expiration of the Agreement on Textile and Clothing (ATC). The paper contends that the expiration freed the trade of textile and clothing of the quotas that had previously bound it. It discusses the history of the ATC and the implications of its expiration on the textile industry. The paper particularly focuses on the implications for China of the expiration of the ATC. The paper includes original source material at the end.
From the Paper:
"In the final analysis, the termination of Agreement on Textile and Clothing will definitely produce a more volatile and competitive global market for textile and clothing manufacturers. The likeliest winners over the coming years will be countries whose textile and clothing industries have sharpened their competitive edge by adopting the latest technology, and which will most effectively interpret the rapidly changing trade patterns generated by the expiration of the ATC."
"Unless they immediately take steps to provide assistance to their clothing and textile industries so they can become more efficient and competitive, other textile and clothing exporting countries may only experience marginal benefits. The countries that will face the greatest challenges will be those that are unable to use up their full quotas, while countries not currently subject to restrictions on import markets will also have to prepare themselves for increased competition from countries whose exports are currently
restrained."
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