I have studied economics for years and love to write about economic trends and conditions. I write for www.economywatch.com and www.economypedia.com.
Global Textile Industry
With the invention of the spinning and weaving machines in Britain, the world textile industry witnessed a remarkable development, culminating in the Industrial Revolution that would once again change old customs of manufacturing. The high production of wool, cotton and silk, registered all over the world for the past few years, brought its undeniable contributed to the development of economy all over the world.
From the UK, where it was formerly launched, the textile industry and textile production was soon after that passed over to Europe and also North America, in the 19th century, the manufacturing processed was mechanized in these areas. As time passed, other countries especially those of Asia, gradually began investing more in this sector, especially in the industrialization of their economies and nevertheless textile industry, which gradually started to gain more and more ground. So the textile industry also moved to Japan, India, Hong Kong and China, which eventually found their way to being leading textile manufacturers, especially due to the cheap labor force.The incentive came soon after, with the Industrial Revolution from the 18th century and so the textile industry witnessed a tremendous growth, and the production of clothing was to be changed to mainstream industry. However, the 20th century textile industry acquired a rather bad reputation, since now the workforce was mainly that of immigrants who worked in illegal "sweat shops", and paid less than minimum wages.
Gobalisation, which would later take over, would help outsource the whole manufacturing process, particularly in areas where trade with textile was common. Leaders in this business changed their focus to the whiter collars, and it was that that the industry of fashion design emerged together with fashion modeling, which also started to flourish and t become in our days a million-dollar industry.
The textile industry, also called the "rag trade" in the United Kingdom and Australia, deals with the design and manufacturing of clothing items, and takes care of the distribution process, using textiles. Based on current statistics, the global textile market is at the moment worth a little more than $400 billion, in spite of the fierce competition textile industry had to face, from other industries.Between 2002 and 2010 it is estimated that the global textile production will increase be a staggering 25 percent, with Asia being the region that is going to bring its major contribution to this tremendous growth.
Further reading in EconomyWatch.com:
The Global Textile Industry
The Indian Textile Industry
The US Textile Industry
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