The Globalization of Trade and Production: A Case Study of Hong Kong’s Textile and Clothing Industries
Production in the world economy has become increasingly globalized. Producers scan the globe to select the distribution of production processes that result in the lowest total production and transportation costs. Significant advances in production, communication, and transportation technologies on the one hand and multilateral liberalization of international trade and investment policies on the other have led to shifts in the world’s comparative advantages and consequently in the geographical distribution of production activities.
KeywordsForeign Direct Investment Comparative Advantage Pearl River Delta Global Production Clothing Industry
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