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

[Fitzcarraldo]

Maybe the stuff they're selling in China was made in Africa.

[Toddsterpatriot]

Maybe the stuff they're selling in China was made in Africa.

Sounds like a win-win!!

[Toddsterpatriot]

I almost feel sorry for those guys. Very liberal in their behavior.

[Mase]

Very true. I keep hoping they'll see the error of their ways. Always the optimist.

As much as I hate to admit it, having them around sure makes FR more entertaining.

[Toddsterpatriot]

I keep hoping they'll see the error of their ways. Always the optimist.

Me too. The problem is at a certain age, most people refuse to learn new facts or admit that their old notions are incorrect. I have the feeling these guys are much much older than that age.

As much as I hate to admit it, having them around sure makes FR more entertaining.

You're right. Everybody agreeing that I was 100% correct 100% of the time would get old fast!

[smiley]

well....I suspect China will soon become the new Super Power since all of our outsourcing in manufacturing and electronics is being shipped over there....

[Toddsterpatriot]

Really? How much of our manufacturing did we ship over? Do we have none left here?

[Mase]

RE: "most people refuse to learn new facts or admit that their old notions are incorrect"

This is one thing that really surprises me. Even in the face of overwhelming evidence to the contrary they will stick with their tired old arguments. Just like debating my father!


RE: "Everybody agreeing that I was 100% correct 100% of the time would get old fast!"

I heard you thought you were wrong once but you were mistaken. LOL!

[Toddsterpatriot]

This is one thing that really surprises me. Even in the face of overwhelming evidence to the contrary they will stick with their tired old arguments.

And I love their "arguments". "I can't find anything in WalMart that's made in America". "We don't make anything in America anymore" That's not even an argument. More like a rant or whine.

[Mase]

The first is a classic. The "we don't make anything in America anymore" is the kind of whining I expect from liberals who are totally ignorant of anything to do with the private sector, not conservatives. I laugh at their feeble attempts to explain away your Dept. of Commerce graph indicating robust manufacturing growth since the 60's.

My favorite argument is that "more than 70% of Wal Mart's sku's are made in China" and all those items generate less than 8% of their gross revenue. The lack of math skills can leave one weak.

[Toddsterpatriot]

The lack of math skills can leave one weak.

That seems to be their common denominator, hehe. Even among those who claim to be math majors.

[Mase]

I've heard that a lack of math skills can create havoc.

[Toddsterpatriot]

Damn, you're good. I thought that was my little secret. :^)