Wal-Mart plans 10 new stores in China

MSNBC News ^ | November 2, 2004 | Reuters

[Toddsterpatriot]

Wal-Mart plans 10 new stores in China Firm aims to profit from new rules for foreign retailers

Updated: 11:51 a.m. ET Nov. 2, 2004BEIJING -

The world’s biggest retailer, Wal-Mart Stores Inc., said it planned at least 10 new stores in China next year, joining other foreign retail giants in taking advantage of new rules letting them move into smaller cities.

...Snip...

Last year, it sourced $15 billion worth of goods in low-cost China, from bicycles to fish. Scott said Chinese products made up about 80 percent of imports sold by Wal-Mart at its more than 3,200 U.S. outlets.

Copyright 2005 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters

[jpsb]

Charity begins at home, my objection is the millions of Americans workers being displaced by 15 cent an hour foced labor. I addionally resent the thouands of small US retailers being forced into bankruptcy by vainly trying to compete with the low wage/low cost Chicom distribution centers setup here in the USA. Lastly I have nothing but comtempt for any America that supports or defends such a system.

[jpsb]

'Security analysts estimate that China's true defense budget -- as opposed to its declared military spending -- has reached $80 billion, the third-highest in the world after the U.S. and Russia."

[jpsb]

"Improved Chinese capabilities threaten U.S. forces in the region," CIA director Porter Goss told a hearing of the Senate Intelligence Committee Wednesday."

"In a defense doctrine last December, the Japanese government for the first time said China and its military buildup posed a regional risk."

[Mase]

Do you really think any American labor that can be replaced by $.15 per hour labor is going to last long here anyway. If it is not China getting those jobs they will just go to some other low cost supplier. This process has been going on for hundreds of years.

With the current unemployment rate lower than the averages of the past three decades I'd say that those millions of workers you mourn for have found one of the 9 million professional services jobs created here since 1994. Which do you think pays more: Unskilled assembly work or professional services?

Tens of millions of middle class Americans would disagree with you regarding the success of Wal Mart. The fact that they are saving money has driven the lower interest rates and mortgage rates we have today and keeps more money in their pockets. This in turn is responsible for home ownership being at an all time high and the fact that almost 60% of Americans are invested in the stock market.

Finally, I am pleased to earn your contempt. I would expect nothing less from people who have no idea of what has made the world, and America in particular, a far better place to live in than it was 200 years ago.

[jpsb]

"I would expect nothing less from people who have no idea of what has made the world, and America in particular, a far better place to live"

Oh contra, misinformed one. It is you that has failed to learn the hard lessons of the 19th century. You are the one supporting sweat shops, child labor, forced labor and slave labor. All of which the USA/GB learned the hard way are very unhealthy for a western society. It is you that has not learned that capitalism decoupled from human individual rights and the rule of law is no better than slavery. It is you that supports a totarian ditratorship, not me. And you have the unmitigated gall to tell me that I know nothing of our history? Ha, what a fool you are.

[Toddsterpatriot]

Oh contra, misinformed one. It is you that has failed to learn the hard lessons of the 19th century. You are the one supporting sweat shops, child labor, forced labor and slave labor. All of which the USA/GB learned the hard way are very unhealthy for a western society.

And as soon as a society gets wealthy enough, they end child labor. You would keep other countries from getting wealthy. It is you who are misinformed and uncharitable.

[1rudeboy]

. . . my objection [are] the millions of Americans workers being displaced by 15 cent an hour fo[r]ced labor.

Millions, huh? What was that you stated earlier about "talking points?"

[jpsb]

"And as soon as a society gets wealthy enough, they end child labor"

So that makes it OK for walmart to profit from labor practices that we outlawed a 100 years ago? Yall bean counters are really something, I used to think plantiff lawyers were the wrost sort of human trash, but yall bean counters are happy enslaving an entire nation if it will safe you a couple of bucks.

[jpsb]

I think if you read the entire post you will see that my assetions are supported by orginal thought.

[1rudeboy]

Original thought? Maybe. Faulty? Certainly.

[1rudeboy]

Help me out here. If we stop buying from Wal-Mart, and prevent it from expanding into China, we will stop unfair labor practices? What am I missing?

[traumer]

[Smittie]

I'm a WalMart shopper and the vast majority of what I buy at Wally is American made. So who's eyes are lying? Since you had to change the terms of the percentage from "goods" to "community goods" and then to "durable goods" it would appear that it's YOUR eyes that have the problem. WalMart DOES sell made in the USA.

I take it you always checkout at the express lane? Outside of the grocery aisles of the store, the majority of things I find there say MADE IN CHINA. Walmart threw out their USA first policy after ol' Sam passed on. I'm sure he would be appalled at what has become of his stores.

I hate to subsidize one of our countries biggest enemies & their slave labor trade, if that makes me a Walmart hater so be it!

[Toddsterpatriot]

You don't even know the difference between 7% and 70%. I'd be wasting my time asking your for a source for your charge that WalMart uses child labor.

You hope all those children in poor countries remain unemployed and starving because that's your idea of Christian charity?

[Toddsterpatriot]

Well, you see, jpsb prefers children in 3rd world countries to be unemployed and starving. It's his Christian charity.

[Toddsterpatriot]

I take it you always checkout at the express lane? Outside of the grocery aisles of the store, the majority of things I find there say MADE IN CHINA.

So, more than 50% of their stuff is made in China? How about 50% of the value?

They only bought $15 billion from China last year. They bought almost $200 billion total. You do the math. Less than 8% of WalMart purchases were from China.

[jpsb]

Yes, I prefer children be unemployed. Guess I am just old Teddy Roosevelt republican.

[1rudeboy]

Say, do you remember the periodic brouhaha when some foreign firm sets up shop in the U.S? Protectionists wail that "all it will do is expatriate its profits," or some such nonsense. So why do these same people begrudge Wal-Mart for locating in China? Won't those profits come back here? Why the double-standard?

[1rudeboy]

Aw, shucks jpsb. We all know you have a heart. We'd simply prefer that you'd use your head more often.

[jpsb]

I am all for Wal-Mart for (re)locating in China. I think they should, they are effectively a Chicom company anway, and I hope they take thier stock holders with them.