From The Editor: Invest In Technology

From The Editor

Invest In TechnologyWith a billion-plus people, it’s easy to get a crowd in China … or so
the joke goes. But it was no joke at ShanghaiTex, which successfully concluded its five-day run,
where the crowds were enthusiastic and hungry for information about the latest textile technology.
Moreover, more than one exhibitor had commented that the attendees did not just come from the
Shanghai area, which was the case two years ago. Machinery makers who were at the show were excited
to see visitors from all different corners of Asia, including India, Pakistan, Korea, Taiwan, among
many others.Could this be the dawn of a new phase in the globalization of the textile industry?
Take a look at the figures released by the Italian Association of Textile Machinery Manufacturers
(ACIMIT): The leading countries for Italian textile machinery exports are China and Turkey.
Together, they accounted for more than 850 million euros in Italian machinery exports in 2003 (see
Page 16, this issue). Behind these numbers is a picture of plants around Asia in a fervor to
upgrade their equipment. Asian textile executives are making long-term investment decisions to
ensure that they will stay competitive and that they are at the forefront of innovations, because
they realize that many of their comparative advantages, such as low-cost labor, may not be enough
anymore.If you have not made that investment decision, maybe it’s time to.By Carmen Pang, Executive

Spring 2004