Competition for Market Share: A Markov Analysis of U.S. Apparel Imports
Export production of apparel destined for key international markets, such as the U.S. market, has been an important strategy used by a number of developed and developing countries as they have attempted to establish and maintain a presence within the global economy. The United States possesses the world’s largest single-country market for apparel. In 2001, U.S. consumers spent over $315 billion on apparel and footwear (American Textiles Manufacturers Institute, 2003). As shown in Table 15.1, the U.S. share of world apparel imports has increased significantly during the past two decades, despite efforts to constrain imports through imposition of relatively high tariff rates and quota constraints. In 2000, almost one-third of world exports were destined for the United States (World Trade Organization, 2002).