Workers of the world, despair!
This story in today's Post about the elimination of international textile industry job quotas spells bad news for workers in struggling countries that don't start with the letters C-h-i-n-a.
With the new system so close, buyers from companies like Wal-Mart Stores Inc. say they have already set plans to collapse their business from factories in dozens of countries down to a carefully hedged and competitive few -- with China topping the list.
"That's about it," said Andrew Tsuei, Wal-Mart's global procurement chief, who expects to reduce the number of countries where Wal-Mart has apparel deals from around 63, cobbled together based on which countries have room to export under their quota limits, to a mere four or five that can produce as much as Wal-Mart orders. "The overall balance of quality, reliability and price makes China probably the most competitive market in the world."
With the new system so close, buyers from companies like Wal-Mart Stores Inc. say they have already set plans to collapse their business from factories in dozens of countries down to a carefully hedged and competitive few -- with China topping the list.
"That's about it," said Andrew Tsuei, Wal-Mart's global procurement chief, who expects to reduce the number of countries where Wal-Mart has apparel deals from around 63, cobbled together based on which countries have room to export under their quota limits, to a mere four or five that can produce as much as Wal-Mart orders. "The overall balance of quality, reliability and price makes China probably the most competitive market in the world."
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