According to the studies of Howe, Propst & McMahon (1997), “The global economy is currently characterized by various changes that result from globalization and the ever advancing technology (p. 4). Further studies illustrate that there are various trends that are observed and the same result to the changing economy. Currently, manufacturers are using fewer raw materials to manufacture their products. The current global economy is also marked by less demand for physical labor and as a result, the cost of production largely depends on the applications used during manufacturing other than on human resources. Concisely, this means that most manufacturing firms are capital intensive rather than labor intensive thereby requiring the textile industry in Belgium to embrace these technological applications. Lastly, financial markets have become global because globalization has led to integration.