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Politics : PRESIDENT GEORGE W. BUSH
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To: Thomas A Watson who wrote (473557)10/9/2003 1:49:47 PM
From: DuckTapeSunroof  Read Replies (2) of 769670
 
Re: "OK you were lying, Wal-Mart... NOT the biggest importer of Chinese manufactured goods in the US!"

>>> Here is my source... put up or shut up time 'Good Stupidity Tom', who is your candidate for a bigger importer of Chinese manufactured goods?

>>> "- "Probably no single company illustrates the benefits of
sourcing cheap imports from China better then Wal-Mart,"
says Stephanie Pomboy, editor of MacroMavens. "Importing
roughly $12 billion in goods from China (or roughly 10% of
our total trade gap with China) the company has been able
to maintain margins and increase headcounts. Indeed, since
China first pegged the yuan to the dollar in 1994, Wal-Mart
has nearly tripled its workforce from 528,000 to 1.4
million today... As the country's largest employer, what's
bad for Wal-Mart is probably bad for the U.S. overall. If
so, the message would seem to be that, by raising input
prices and squeezing profit margins, a Chinese re-
evaluation will end up costing more jobs than it saves."
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