Week 1 and 2 Flashcards
Canada’s Top 5 Export Destinations (2016)
- US
- China
- Japan
- Mexico
- UK
Canada’s Top 5 Import Destinations (2016)
- US
- China
- Mexico
- Germany
- Japan
High quality and value: attracts moderate and high-end US retailers to produce their products in Canada.
Advantage of Canadian Clothing and Textile Manufacturers
Innovative design: men’s tailored suit, coat, lingerie/intimate apparel, childrenswear, activewear, fur.
Advantage of Canadian Clothing and Textile Manufacturers
Quick turnaround time: 2 to 3 months faster than Chinese producers
Advantage of Canadian Clothing and Textile Manufacturers
Flexible in smaller run: far more flexible than their US counterparts
Advantage of Canadian Clothing and Textile Manufacturers
Advanced technology
Advantage of Canadian Clothing and Textile Manufacturers
Imports from China, India, Third World and the least developed countries (LDCs) have risen over the last two decades due to the manufacturing costs.
Disadvantage of Canadian Clothing and Textile Manufacturers
The number of domestics manufacturers closing local operations in favour of offshore production.
Disadvantage of Canadian Clothing and Textile Manufacturers
Two countries with lowest minimum monthly wage for garment workers in 2017
Honduras and Guatemala
Fair competition
Benefit of WTO Trading System
Cut cost and raise the standard of living
Benefit of WTO Trading System
More choices for consumers
Benefit of WTO Trading System
Settle disputes
Benefit of WTO Trading System
Economic growth and employment
Benefit of WTO Trading System
Encourages good governance
Benefit of WTO Trading System
Helps countries development
Benefit of WTO Trading System
Peace and stability
Benefit of WTO Trading System
4%+ drop in apparel retail prices from 2006-2008 as a result of quota elimination.
Impact of WTO
China has surpassed Japan to become the world’s second biggest consumer market.
Impact of WTO
India will become an increasingly important sourcing locale for US firms.
Impact of WTO
The opening of apparel retail opportunities in China, India and other emerging markets.
Impact of WTO
Retail Market: Fast-fashion companies
Impact of WTO
Specific Tarriffs
per unit or by weight (ex. per kg)
Ad Valorem Tarriffs
% ad valorem