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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	7/7/2011 9:23:12 PM
	1 Recommendation of 8334

Financial 411: China Dominates Fortune 500 Rankings Thursday, July 07, 2011 According to Fortune magazine's annual ranking of the world's 500 largest companies, Walmart is still the world's largest company by revenue, but now it's joined by three Chinese companies in the top 10. The domination of American companies on the Global rankings has shrunk. Only 133 made the list compared to 185 a decade ago. But everyone is making more money — profits of the 500 companies rose nearly 60 percent from last year. Executive editor of Fortune, Stephanie Mehta, said the large jump in profits this year is due in part to some world economies — namely China and India — coming out of the global recession in 2010, as well as the rise in oil prices. Sixty-one Chinese companies made the Fortune's Global 500 list compared to just a dozen a decade ago. Mehta said most of them are not household names, like State Grid, Sinopec and China National Petroleum. wnyc.org

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