<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d8027888\x26blogName\x3dRESIST+OPPRESSION\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLACK\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://resistoppression.blogspot.com/search\x26blogLocale\x3den_US\x26v\x3d2\x26homepageUrl\x3dhttp://resistoppression.blogspot.com/\x26vt\x3d-6094122990481712765', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Image Hosted by ImageShack.us

7/13/2005

WAL-MART & CHINA: COZY, MULTI-BILLION DOLLAR BEDFELLOWS

Image Hosted by ImageShack.us
Source: Wal-Mart Watch

Today’s news (July 11) reports show that China’s trade surplus has soared to $9.68 billion, a five-fold increase from the previous year. The country’s strong export growth – a rise of more than 30% on the year – is furthering the criticism that China has an unfair trade advantage. Ominously, as officials meet today in Beijing, experts warn of a trade war if China does not begin importing more goods and services. Meanwhile, Wal-Mart – the company that used to proudly tout the “Buy American” motto of founder Sam Walton – remains hugely responsible for growing China’s economy in its model of endless expansion and supplier squeezes.

“Walk down any Wal-Mart aisle and note where the products come from. Then think about the millions of American jobs lost at the expense of those cheaper Chinese goods,” said Wal-Mart Watch Executive Director Andrew Grossman. “Will Wal-Mart continue to aid China in sinking the U.S. economy?”

As Wal-Mart Watch recently noted in its annual report, Wal-Mart is a massive and unique contributor to China’s trade imbalance.

* At least 70% of non-food items sold at Wal-Mart stores have a Chinese component. * Wal-Mart imports an estimated $18 billion in products from China each year. * Experts believe Wal-Mart is China’s eighth largest trading partner, importing more goods than entire countries like England and Russia.

Read more about the uncomfortably close, and increasingly dangerous, relationship of Wal-Mart and China. The Wal-Mart Watch report and accompanying citations can be found here.


0 Comments:

Post a Comment

<< Home