Global Apparel Sourcing for US----The post January 01, 2005 scenario.
The topic of my research paper is "Global Apparel Sourcing for US----The post January 01, 2005 scenario- January 01, 2005 is the date when free trade agreement of WTO will come into effect and all trade barriers---quotas, duties, tariffs-will be either eliminated or subjected to reduction under a time frame of a few years.
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In this paper I have attempted to investigate and conclude the optimal trade policy US should implement in order to achieve maximum advantage for its economy without undermining or exploiting the economies of its trading partners. Throughout this paper the primary focus will be on apparels with bilateral trade and advantage to the US economy taken in a broader perspective. In other words the apparel industry will be the focal point in concluding as to how the US economy and industry as a whole will be benefited by the recommendations provided by this paper. .
The primary source of my research has been Internet, books, periodicals and articles from industry experts, policy makers and academia.
The primary reason to work on this topic is three fold.
1. I have been associated with the apparel industry throughout my career and have been at the supply side of the industry----countries US sources its apparel and textile products from---all along.
2. My major for my Bachelor's degree is International Business and apparel is an industry which is one of the most important sectors for many developing and underdeveloped countries which would like to be benefited from capital and research intensive industries of US by offering labor intensive products of which apparel is a significant one.
3. Apparel and textile is one of the most important heads of expenditure when it comes to consumer spending or economic activity in the US. In other words it signifies the basic needs of humans----food, clothing and shelter---and affects each and every member of the society in one way or the other.