Pakistan / 07.10.2008

By Anjum Altaf This is the edited text of the keynote presentation at the conference on Teaching Textiles organized by the Textile Institute of Pakistan, Karachi, on December 2, 2005. It was published in the SDPI Research and News Bulletin, Vol. 13, No. 1, 2006. The textile and clothing (T&C) industry is the most interesting of the major industries to study at this time. Its natural development has been the most severely distorted by a system of global constraints that were only eased at the beginning of 2005. Many people expected the removal of quotas on January 1, 2005 to trigger a massive readjustment and the resulting cutthroat price competition to drive production to the lowest cost locations. It is important to remember, however, that the quota regime was initiated over 50 years ago--the first long-term agreement was enforced in 1962--and 50 years is a very long time....