WTO LIBERALISATION FAILS TO DELIVER BENEFITS TO SRI LANKAN AND CAMBODIAN TEXTILE WORKERS
May 1st, 2012
BY KEITH NUTHALL
A WORLD Bank assessment has concluded the abolition of the World Trade Organisation's (WTO) multi-fibre agreement (MFA) on textile trade quotas failed to deliver wealth to Cambodian and Sri Lankan textile and clothing workers. In fact, by most measures, the analysis concludes the 2005 liberalisation left these employees worse off, especially women. With prices falling following unfettered global competition and Chinese rivalry intensifying in higher end lines, Cambodia and Sri Lanka wages fell: "The increased competition in apparel exports ...
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