95% of the consumers live outside the US, implying huge market opportunities for the US textile and apparel industry. Among the leading emerging markets for U.S. companies are China, Vietnam, India, Indonesia, Taiwan and Thailand. From watching the short videos below (prepared by the US Commerce Department), how do you see the importance of these markets? And what are the unique local business environment and culture in your view?
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China offers many business opportunities; Shanghai in particular. An enormous amount of foreign funds are flooding the city. Shanghai is the second largest city and has the fastest growing market.This city is becoming increasingly cosmopolitan due to the strength of the economy and an increasing amount of wealth.Strong business relationships are valued.This city feels exuberant and full of life.
Vietnam’s economy continues to grow. The U.S relationship with Vietnam has been critical to development. This market represents many opportunities for all kinds of businesses.Incentives, low cost labor and modern infrastructure;attracts foreign investors.
Thailand’s booming economy provides a number of opportunities for businesses. Thailand has a modern infrastructure; with world class hotels and stunning landscapes. Newly emerging markets offer business potential.The manufacturing sector is thriving.
India has a growing middle class. The Indian market is changing the worlds economy. Investors and businesses across the globe are reaping the benefits of this strong economy. SME’s and entrepreneurs also have many opportunities; the Indian government offers incentives to U.S businesses.
Taiwan has a population of only 23 million but its driving democracy provides an ideal economy. Affluence in Taiwan is growing and there is more of a market for luxury goods. The people of Taiwan also value a strong business and network relationship.