The World Trade Organization and International Denim Trading | Y. LI, Y. SHEN, L. YAO and E. NEWTON

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The World Trade Organization and International Denim Trading
By Y. LI, Y. SHEN, L. YAO and E. NEWTON
The World Trade Organization and International Denim Trading

Contents
International Textile and Apparel Trading
General trading environment for textile-related products
Non-tarifftrading barriers in specific countries
International denim trading patterns
References
China's WTO Entry and its Impact upon the International Textile
and Apparel Trade
Competitive position of China's textile and apparel industry
Prospect of China's WTO entry
General rights and obligations after China enters WTO
Specific impact upon the current 'diamond' structure
Impact upon the HK textile and apparel industry
Impact upon world textile and apparel trade after the quota phase-out
References
US Denim Products Trade
Exports
References
imports
EU Denim Products Trade
EU denim products trading
EU denim products trading (within EU)
References
Japan Denim Products Trade
Exports
References
Imports
Hong Kong Denim Products lkade
Exports
Reference
Imports
China Denim Products Trade
Imports
Exports
References
Strategic Implications for Denim Manufacturers and Traders
Denim product development trend
Implications for China's denim sector and the whole textile industry
References
9 Conclusion

Acknowledgment
We would like to thank The Hong Kong Polytechnic University for funding this research through the Area of Strategic Development: “Fashion” Design and Technology Innovation”.

1 International Textile and Apparel Trading

1.1 GENERAL TRADING ENVIRONMENT FOR TEXTILE-RELATED PRODUCTS

OVERVIEW
Since the textile and apparel industry is of special importance to almost every nation in the world, this sector has merited unique attention both in an economic and a political sense. While other manufacturing sectors have been progressively liberalized under the GATT and WTO rules by such means as "MFN status" and "tariff imposition rather than quantitative restrictions", the textile and apparel sector remains to be deviated from this mainstream. Furthennore, the increased sharper global competition in textile-related trade has led to a set of intricate and complicated multilateral and bilateral agreements regulating the behavior of all the participants.

The UK and US were once the leading textile and apparel exporters in the world, before the 1950s. However, Japan's quick recovery in textile and apparel production as well as consequent increased exports, followed by Hong Kong, South Korea, India, and Pakistan, soon aroused upset feelings among mandacturers in the developed nations. Confionted with the import surge of textiles and apparel from more and more developing countries, the developed M~~OIU, relying upon their economic strength and political power, began to manipulate the global trade through enforcement of a series of agreements. These measures, including the "Voluntary" Export Restraints Agreement (VER), and the short-term and long-term Arrangement Regarding International Trade in Textiles (STALTA), paved the way for later enforcement of the Multifiber Arrangement (MFA) in 1974, a multilateral commitment exerting great influence upon the present world textile and apparel trade pattern.

It is worth noting that there are no quantitative restrictions among the developed nations based on the so-called "gentlemen's agreement". With the developing countries gaining more economic and political power in the world arena, they strive harder for the elimination of unfair quota restrictions in the textile and apparel trade. The successful completion of the Uruguay Round in 1994 marked another milestone in the textile and apparel trade history. The ATC agreement, which replaced the MFA since 1995, finally set a clear date for the full integration of textile and apparel trade within the GATT regime.


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