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Protecting Free TradeThe Hong Kong Paradox, 1947–97$
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Lawrence Mills

Print publication date: 2012

Print ISBN-13: 9789888083985

Published to Hong Kong Scholarship Online: September 2012

DOI: 10.5790/hongkong/9789888083985.001.0001

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PRINTED FROM HONG KONG SCHOLARSHIP ONLINE (www.hongkong.universitypressscholarship.com). (c) Copyright Hong Kong University Press, 2019. An individual user may print out a PDF of a single chapter of a monograph in HKSO for personal use.date: 15 September 2019

The Multi-Fibre Arrangement: The Fifth Piece of Paper

The Multi-Fibre Arrangement: The Fifth Piece of Paper

Chapter:
(p.73) Chapter Seven The Multi-Fibre Arrangement: The Fifth Piece of Paper
Source:
Protecting Free Trade
Author(s):

Lawrence W. R. Mills

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888083985.003.0008

This chapter examines Hong Kong’s participation in the Multi-Fibre Arrangement, a system under the auspices of the GATT originating in the early 1970s. Originally intended to be merely temporary, the arrangement lasted for 30 years and sought to bring existing international trade agreements relating to textiles and garments under a single umbrella and to provide limited scope for liberalisation. The chapter argues that this arrangement created the intriguing paradox, captured in the title of the book, of enabling Hong Kong to emerge as the world’s largest exporter of garments, prospering while upholding its free trade principles through the acceptance of increasing restrictions on it most important industry.

Keywords:   Hong Kong, Free trade, Multi-Fibre Arrangement, Protectionism, Textiles, Garments, Exports, Trade negotiations, Quotas

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