[Happy2BMe]

Wal-Mart's China inventory to hit US$18b this year

Posted by The Loan Arranger On News/Activism 11/29/2004 11:23:23 PM PST · 55 replies · 458+ views China Daily ^ | November 29, 2004 | Jiang Jingjing The world's largest retailer, Wal-Mart Stores Inc, says its inventory of stock produced in China is expected to hit US$18 billion this year, keeping the annual growth rate of over 20 per cent consistent over two years. The trend is expected to continue, company officials revealed. "We expect our procurement stock from China to continue to grow at a similar rate in line with Wal-Mart's growth worldwide, if not faster," said Lee Scott, the president and CEO (chief executive officer) of Wal-Mart. An unnamed company official also stated the firm will extend its procurement base from South China's Pearl River...

[shellshocked]

""We expect our procurement stock from China to continue to grow at a similar rate in line with Wal-Mart's growth worldwide,"

Let them sell their cheap products overseas, not here.

[shellshocked]

Wal-Marts Child Labor Violations

[snip]

Globalizing Poverty Through The World Trade Organization

 

• Bangladesh, Beximco factory--Young women making Wal-mart shirts forced to work from 7:30 a.m. to 8:00 p.m., seven days a week, 87 hours a week

   

• Paid 9 to 20 cents and hour for 80 hours--lunch break is unpaid. And paid less than one-third the legal overtime rate

   

• No health care--No maternity leave

   

• Wal-Mart and Beximco are violating Bangladeshi labor law which sets the workweek at 48 hours and limits overtime to 12 hours a week, while also requiring overtime pay at double the standard hourly rate