Ho said: . "China is the manufacturer to the world," (re: Wal-mart)

a few short yrs. ago we held the manufacturing title.

http://www.atimes.com/atimes/China_Business/GJ01Cb01.html


Wal-mart eyes smaller Chinese cities

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Bentonville, Arkansas-based Wal-Mart plans to open 14 superstores this year, an increase of a third, to catch up with Carrefour SA and domestic chains in China's US$652 billion retail market. Starting in December 2004, China permitted foreign retailers to open stores without a local partner to meet pledges made on joining the World Trade Organization in 2001.

-snip-

Wal-Mart is counting on faster Chinese growth as its expansion slows in the US, where higher oil prices are crimping consumer spending. The company's first-half sales outside the US rose 12.3% to $29.1 billion as domestic sales climbed 9.9% to $99.5 billion. Retail sales in China may expand 13.5% in the second half of this year, spurred by rising incomes, the Beijing-based Financial News said last month, citing the State Information Center.
-snip-
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got that? "higher oil prices are crimping consumer spending" in the US.

we are crimped so Wal-mart leaves country chasing bigger bucks.