| Abstract: | China's entry into the World Trade Organization in 2001 and the abolition of restrictions under the Agreement on Textiles and Clothing in 2005 marked the end of an era for the apparel industry across developed economies. Manufacturers in those countries ceased almost all production activity in favor of low-cost sourcing from emerging countries, including China. By 2020, China had become the world's largest producer and exporter of textiles and apparel, with an export value of nearly $291 billion. |
