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1、Trade liberalization and patterns of strategicadjustment in the US textiles and clothing industryBelay SeyoumU.S.A.The overall environment facing the US TC industry will be one of rapidly changing market conditions and technological innovation. With the phase out of quotas and growing number of trad
2、e agreements, the US TC industry is being exposed to intense competition in export and domestic markets. This is likely to lead domestic industries/labor to demand intervention by national governments to mitigate the adverse impact of trade liberalization .Chinese leaders have expressed strong oppos
3、ition to outside pressure on their currency policy, calling it a form of protectionism and interference in Chinas domestic economic policy, and some have even questioned whether the currency is undervalued at all. However, on June 19, 2010, the Chinese central bank, the Peoples Bank of China (PBC) s
4、tated that, based on current economic conditions, it had decided to “proceed further with reform of the RMB exchange rate regime and to enhance the RMB exchange rate flexibility.” It ruled out any large one-time revaluations, stating “it is important to avoid any sharp and massive fluctuations of th
5、e RMB exchange rate,” in part so that Chinese corporations could more easily adjust (such as through upgrading) to an appreciation of the currency. Many observers contend the timing of the RMB announcement was intended in part to prevent Chinas currency policy from being a central focus of the G-20
6、summit in Toronto from June 26-27, 2010.On June 22, 2010, the RMB appreciated by 0.43% against the dollar (to 6.80 yuan) over the previous day, which, at the time, was the largest daily rise since reforms were implemented in July 2005. However, on the following day (June 23) it depreciated to 6.81 y
7、uan. As indicated in Figure 3, the yuans exchange rate with the dollar has gone up and down over the past few months, but overall, it has appreciated by 1.9% through October 1, 2010, with most of that appreciation occurring in September. 3 Some analysts contend that the appreciation of the currency
8、in September 2010 has had more to do with Chinese concerns over possible congressional action on the currency than economic considerations.In spite of the substantial job losses, the US TC industry remains technologically advanced partly due to increased productivity resulting from advances in techn
9、ology and design capabilities. Textile production is capital intensive and modern technology is essential to meet the increasing for high-quality products. Over the last few years, US textiles and apparel firms have substantially increased their investment to maintain modern manufacturing facilities
10、 as well as improve production and marketing capabilities in order to maximize their inherent advantages to market proximity. In apparel, low skill production jobs have moved to low-cost locations offshore while the more skilled ones have been retained. To successfully adapt to the new environment,
11、US TC industries need to capitalize on their sources of competitive advantage. They need to develop a more flexible operational arrangement, meet high standards in product innovation and generally develop a more change-seeking business culture (Kilduff, 2005).An important survival tool for US TC fir
12、ms is to expand their potential market by offering new product designs and product categories. Manufacturers must try to bring a steady stream of products to market that are in line with the taste, preferences of the consumer. They can also expand their market potential by offering new product categ
13、ories. Two of the fastest growing apparel segments in the US, for example, have been the womens plus and mens big and tall segments (Driscoll, 2004). Plus-size apparel marketing was estimated at $47 billion in 2005 accounting for 20% of total apparel market. It is important to identify the firms tar
14、get customers and assess whether the firm is successfully addressing their needs.US TC firms should target a narrow segment of the market that provides the best opportunity for success. In textiles, the focus should be on a few specialized segments such as carpets, nonwovens and technical textiles.
15、Similarly, apparel producers should increase their focus on core products, reduce vertical integration to shed overhead costs, and establish alliances with other firms to consolidate resources and increase market share.Finally, in view of rising incomes and high growth rates in many developing count
16、ries such as China, Brazil, and India, there are potential export market opportunities for US textile and apparel products. US export interests may be served by seeking improved access to the retail distribution systems of developing countries. US textile firms should also be able to use Mexico to export to the European Union and other countries, taking advantage of the Mexico-EU trade agreement. Since the conclusion of NAFTA, a number of Asian and European firms have
