Does Vietnam and Bangladesh’s Cheap Labor Threaten ‘Made in China’ Textiles?

Quick Summary:

Despite rising labor costs and less enthusiasm for factory jobs, e-commerce and domestic consumption provide a future growth model for the massive textile industry in China.

These regions have been the poster-child of China’s rapid development, highlighting how mass manufacturing can play a large role in transforming a developing country like China from rags to (lower-middle income) riches in the matter of three decades.

This push to manufacturing, particularly in the textiles industry, played a large role in pulling a stunning 800 million people in China out of extreme poverty, defined as those living on less than $1.90 per day.

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Article Details

Author / Journalist: Andey Ng

Category: Economy

Markets: United StatesAustraliaBangladeshBelarusChinaHong KongIndiaIsraelNorth KoreaSri LankaUkraineVietnam

Topics: E-commerce People China Manufacturing Labor Million Textile Workers Factories China’s Factory

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 21:49:00 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2813 words

Reading Time: 16 minutes read

Sentences: 134 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21671869

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