Tuesday, August 21, 2007

Walmart saves the world

MNCs are now Economic Entities big enough for Political entities to take note of. Checkout the clout of Walmart from this statement:

"If Wal-Mart were an individual economy, it would rank as China’s eighth-biggest trading partner, ahead of Russia, Australia and Canada,” Xu [Jun, Wal-Mart China’s director of external affairs,] said.

By the end of September, 2004, the top seven trading partners to the Chinese mainland are the European Union, the United States, Japan, Hong Kong, ASEAN (Association of Southeast Asian Nations), South Korea and China’s Taiwan Province, state statistics from the Ministry of Commerce.

Last year, the firm bought US$15 billion products from China, half from direct purchasing, the other from the firm’s suppliers in China."

Link : Walmart saves the world

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