4 ms·
Unlike many other industries, textiles are all of: (1) relatively low capital to get started due to the relative simplicity of the equipment and the age of the
by karthikb 9y ago
Unlike many other industries, textiles are all of:
(1) relatively low capital to get started due to the relative simplicity of the equipment and the age of the industry and equipment designs
(2) mostly low skilled, meaning that the government doesn’t have to invest a ton in training or wait a long time for enough folks to get the needed skills
(3) safer than most industries
(4) more or less guaranteed domestic market (everyone needs clothes)
- bluGill 9y agoTrue, but you really want to be making textiles for rich countries, not for your local market.
- philwelch 9y agoNot to mention the potential export market. Textiles are a great example of comparative advantage at work--even if a richer country can manufacture better textiles than a poorer country, importing textiles from the poor countries frees up resources for the rich country to manufacture other goods. There are good reasons Bangladesh is a major player in the textile industry.