Primarily china and other asian countries

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Why did the U.S. lose this industry to other, less developed countries, primarily China and other Asian countries? When did this happen? Was it primarily because of cheap labor rates? Can you name a U.S. company who started the trend to outsource textile manufacturing? How did globalization play a role in this? And now that China is becoming a more "mature" economy, how will the textile industry be affected there? Did the outsourcing of textile manufacturing to China cause other industries to move production there - for example, is there a connection between the initial move years ago by U.S. textile manufacturers to have production in China and the present production of the Apple iPhone and other hi-tech devices which are also made in China? Did China make changes to its political and economic systems to encourage economic development and foreign investment? Was economic development used in China to create a "manufacturing" economy there? Be sure to answer all of these questions in your response.

Reference no: EM131118606

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