Walmart and China
Posted by Moonage on 30 Nov 2004 | Tagged as: Businesses
And so it goes. This piece on the "China Trade" and Wal-Mart, re-posted from TMF and originally found by Mish over there.
Enjoy
Kentm401
Politics & Current Events / Current Events
Subject: "China Trade" & Wal-mart Date: 11/30/04 11:23 AM
Author: kentm401 Number: 98015 of 98024
Interesting post & stats, nicked from mish……China trade estimated to show about a $150 billion deficit with the US this year….read the whole piece via the link…
KBM (not a Wal-Mart fan)
Snip:
Xu declined to comment if the anti-dumpling measures of the US Department of Commerce have impacted the firm’s procurement of textile commodities and household appliances in China, saying again that China is an important sourcing base for the firm.
So far, more than 70 per cent of the commodities sold in Wal-Mart are made in China.
Experts say Wal-Mart’s plan of increasing its procurement from China has granted the firm a positive corporate reputation in the country.
"Buying more products in China means more job opportunities, which helps the firm win not only the government’s hearts, but also the customers’ appreciations," said Wang Yao, director of information department under the China General Chamber of Commerce.
In the United States, poor people find it possible to afford cheap "Made In China" products for their daily necessities, Wang said.
Wal-Mart, headquartered in Bentonville, Arkansas, entered China in 1996. It has opened 39 stores, including supercenters, "Sam’s Clubs" and neighborhood markets in 15 cities around China, including Beijing, Harbin and Dalian.
It has recently announced the opening of its first store in Shanghai, slated for the middle of next year.
The firm has a total of 4,900 stores in 10 countries worldwide.
/snip
Original link here:
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