HONG-KONG AND CHINA IN 1997 - IMPORTANCE TO US TEXTILE AND APPAREL INDUSTRIES

In 1997, Hong Kong will once again be a part of the People's Republic of China (PRC). In the past decade imports from China into the United States have risen from almost nothing to the point where China is now the leading supplier of imported textiles and apparel to the United States. As this change occurred, Hong Kong has played a major role in contracting and marketing for the Chinese textile and apparel producers, particularly those located in Guangdong (Canton) province. Together with the approaching phase-out of the Multifiber Arrangement (MFA), the integration of Hong Kong into China will make the latter an even stronger and more influential force in the U.S. market. This integration will probably pose a formidable challenge to the U.S. textile and apparel industries, but will also give opportunities. With Hong Kong providing the ideal springboard, China offers excellent opportunities for those U.S. textile and apparel manufacturers who can exhibit wisdom, patience, long term views and a willingness to learn the culture of the consumer market in China.