My family had a textile factory in Israel from the 1970s until the mid 90s - it used to be very, very profitable until the market opened up to imports from Chin

My family had a textile factory in Israel from the 1970s until the mid 90s - it used to be very, very profitable until the market opened up to imports from China/India in the 90s. Within a few short years my parents had to shut down the factory because they couldn't compete with countries where the prevailing wage was < 1/10th as much as Israeli minimum wage.