The Looming Revolution

As the expiration of international textile quotas draws near, China emerges as a force to be feared by both rich and poor countries. Many believe that China, if unchecked, will soon have a global monopoly in textiles, forcing countries currently depending on textile exports into economic disaster. Meanwhile, India and Pakistan - China's main competitors - are hedging their bets. Indian industry leaders, for example, openly advocate India as a secondary base for textile manufacturing. While it would be impossible to beat Chinese prices, competitors may cash in on the practice of large multinationals, like Walmart, geographically diversifying their production. According to the Economist, finding a niche may be the smartest move for an export-based country at the dawn of a new cutthroat era. – YaleGlobal