The impact of the multifibre arrangement on world clothing and textile markets with special reference to China
China's clothing and textile exports have grown rapidly since the mid-1970s. This brought China into the Multifibre Arrangement (MFA) system in the late 1970s. While China benefited from the existence of MFA restrictions on other exporters in the 1970s, the MFA inflicted losses on China when the MFA restrictions became binding in the early 1980s. Simulations suggest that the MFA imposed a global welfare cost of over US$4 billion annually in the mid-1980s (an estimate which is smaller than...[Show more]
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