Tuesday, November 30, 2004

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

Wal-Mart's China inventory to hit US$18b this year: "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." I don't like seeing this trend. I know Nixon felt that opening trade up with China would improve the lives of the Chinese and that would eventually cause the people to demand a free society and the government would have to acquiesce, but I think that's been proven wrong. A large number did revolt but was obviously put down by force. China has allowed entrepreneurs to exist outside government control, but only to a point (that they define). A communist government is a government without limit, and freedom can never exist under an unlimited government.

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