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

[HarryKeogh]

http://www.chinadaily.com.cn/english/doc/2004-11/29/content_395728.htm

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.

(Xu Jun, Wal-Mart China's director of external affairs) said China is Wal-Mart's most important supplier in the world.

"If Wal-Mart were an individual economy, it would rank as China's eighth-biggest trading partner, ahead of Russia, Australia and Canada,"

Insiders point out Wal-Mart's imports from China have largely influenced the US trade deficit in China, which is expected to reach US$150 billion this year.

In the United States, poor people find it possible to afford cheap "Made In China" products for their daily necessities, Wang said.




-so again the question is does the money people save at Wal-Mart, that they can then spend elsewhere and stimulate the economy, offset the jobs lost to China.

and of course we have the age-old ethical questions about people working for extremely low wages in poor working conditions so we can buy cheap products.

Well, I have my opinion and Wal-Mart will never see a dime from me. (not that they're missing it)

And sorry for yet another Wal-Mart thread but I found some of the statistics in the article interesting.

 

[corplinx]

We really need high wage union jobs for people to make cheap plastic waste baskets. That sounds like a sustainable model. The wisdom in it is brilliant. In fact, we would have more manufacturing jobs if we got rid of those assembly lines and new fangled machinery altogether.

 

[HarryKeogh]

We really need high wage union jobs for people to make cheap plastic waste baskets. That sounds like a sustainable model. The wisdom in it is brilliant. In fact, we would have more manufacturing jobs if we got rid of those assembly lines and new fangled machinery altogether.

Well,Rubbermaid was able to pay Americans a decent salary to produce their cheap plastic waste baskets but Wal-Mart told them to make it that much cheaper (Rubbermaid had to raise prices when the price of resin went up. Their other customers went along with the price increase, all except Wal-Mart). Rubbermaid couldn't produce it here for the price Wal-Mart wanted so they had to shut down here and do it in China.

You have to admire that Wal-Mart.

 

[Daylight]

We really need high wage union jobs for people to make cheap plastic waste baskets. That sounds like a sustainable model. The wisdom in it is brilliant. In fact, we would have more manufacturing jobs if we got rid of those assembly lines and new fangled machinery altogether.

What produces a better society?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.
`
Which produces more money for the economy

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

What creates a happier society?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

What reduces crime more?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

 

[corplinx]

What produces a better society?
a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

Unemployment is still very low. I choose A and B which is reality.

 

[Luke T.]

What produces a better society?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.
`
Which produces more money for the economy

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

What creates a happier society?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

What reduces crime more?

a) Saving 5 cents on a plastic trash can or
b) Your next door neighbor having a job.

What produces a better world society?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs

...

What reduces war more?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs.

 

[corplinx]

What produces a better world society?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs

Luke, you know that hoping someone else has a job only extends to white people.

 

[HarryKeogh]

What produces a better world society?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs

http://www.corpwatch.org/article.php?id=3031

The workers work 11 hours a day, in violation of both Chinese labour law and the Nike Code of Conduct.1 In addition to this arduous schedule, all must work overtime. If they refuse they can be fined $1.20 - $3.61(10-30Rmb) or docked the entire day's pay. Several of the workers mentioned that they did not realise that they would be forced to work overtime when they were hired. The overtime of 2-4 hours (on top of the 11 hour work day) violates China's Labour Law, which allows for only 36 hours of overtime per month. The Labour Law and Nike's Code of Conduct both clearly state that coerced labour is not acceptable, yet workers in Wellco are forced to work long hours or they will be subject to termination.

Workers only get 2-4 days off every month. This violates both China's Labour Law and Nike's Code, which states that workers are entitled to at least one day of rest every week. After working at the factory for one year, workers are given an annual leave of five days, and after two years this becomes seven days.

The workers are given a quota to complete in the working day. However, the quota is very harsh, and often cannot be fulfilled in a day's work. When this happens, the worker must participate in "prolonged work" for which there is no pay.

The wages at the Wellco factory violate minimum wage laws. Generally the workers are given $30-$42 (250-350 Rmb) per month before overtime, while the minimum wage in Dongguan state is $42 (350Rmb) per month. Overtime is also paid in violation of the law. Minimum overtime pay is $0.36 (2.99Rmb) per hour of overtime, but Wellco workers make $0.19-$0.33 (1.6-2.7Rmb) per hour of overtime. After all the deductions are made for housing, meals and other items, one month's pay--including overtime--becomes only $36.14-$72.29 (300 to 600Rmb).





So Mr. American factory worker, don't get upset you lost your 10.00/ hour job here. A Chinese worker has your job now and your sacrifice is helping to build a better world society!

And Corplinx, your tossing in the race card is pathetic. Unless you think that only white people have lost jobs here.

 

[corplinx]

And Corplinx, your tossing in the race card is pathetic. Unless you think that only white people have lost jobs here.

would you prefer it if I suggested it was overzealous nationalism? you perhaps don't want those inferior nations getting those jobs?


Still, I want you to sign my petition abolishing the assembly line and the automated loom since it would result in more factory jobs and textile workers.

Is it better to pay an extra dollar for your shirt or for yout neighbor to have another job to turn up his nose at?

 

[Daylight]

Unemployment is still very low. I choose A and B which is reality.

Really? I sure do seem to be surrounded by a lot of unemployed people and see guys who used to be engineers working at fast food joints.

Please don’t tell me you believe every word Bush and friends has told you.

 

[corplinx]

Really? I sure do seem to be surrounded by a lot of unemployed people and see guys who used to be engineers working at fast food joints.

Your anecdotal evidence is probably more reliable than the empirical numbers on unemployment.

How many engineers do you really know that flip burgers now? Were they real engineers or was that just a job title or a sham certification (mcse, novell engineer, etc) ?

 

[Daylight]

would you prefer it if I suggested it was overzealous nationalism? you perhaps don't want those inferior nations getting those jobs?


Still, I want you to sign my petition abolishing the assembly line and the automated loom since it would result in more factory jobs and textile workers.

Is it better to pay an extra dollar for your shirt or for yout neighbor to have another job to turn up his nose at?

Why do you hate your next-door neighbor? Do you even know them? Just curious as to why it’s so easy for you to screw over your next-door neighbor to save an extra dollar? From you posts it seems like you would even go out of your way to screw them over to save that extra dollar. Why? Is it a self esteem issue that causes you to want your actions to make others suffer?

 

[corplinx]

Why do you hate your next-door neighbor? Do you even know them? Just curious as to why it’s so easy for you to screw over your next-door neighbor to save an extra dollar? From you posts it seems like you would even go out of your way to screw them over to save that extra dollar. Why? Is it a self esteem issue that causes you to want your actions to make others suffer?

Malachi151, is that you? I missed you comrade. Welcome back.

 

[Daylight]

Your anecdotal evidence is probably more reliable than the empirical numbers on unemployment.

How many engineers do you really know that flip burgers now? Were they real engineers or was that just a job title or a sham certification (mcse, novell engineer, etc) ?

Half the people I know are either unemployed or working in a lower job. This I see with my eyes.

Really, get out and talk to people. You’ll find the numbers don’t support the reality. People are hurting.

 

[Ed]

My next door neighbor now does all of my yard work. He should have finished digging my new pool any day now.

 

[corplinx]

Half the people I know are either unemployed or working in a lower job. This I see with my eyes.

Really, get out and talk to people. You’ll find the numbers don’t support the reality. People are hurting.

Get out and talk to people? Well. everyone I know is employed so I guess that cancels out your anecdotal evidence with mine.

Maybe you should quit hanging out with losers.

 

[Ed]

Well. everyone I know is employed

My neighbor will be happy to talk to you. What are you paying?

 

[Nikk]

-so again the question is does the money people save at Wal-Mart, that they can then spend elsewhere and stimulate the economy, offset the jobs lost to China.

Simple example.

Chinese factory makes a Harry Potter figurine for say 50c. It sells for $5 in the US.

The rest of that money goes on say.... sea shipment on board a US owned ship insured in London; In the US you have more transport and packing and promotion done by US and EU owned companies; The product is sold in a US shop with the profits going to the US owner and to Warners who own the intellectual property rights by arrangement with the British author.

So of the saleprice 50c goes to China and $4.50 to US/EU companies. The US and EU are the largest investors respectively in each others economies.

For the time being at least the comparative advantage model seems to be working. In your position I would worry more about a weak currency losing its status to the Euro, a shareholder value system which may work aganst long term investment and research in favour of short term profits and a public education system which produces very poor results in math and science skills by international standards. Oh, and there's the deficit of course.

 

[Daylight]

Get out and talk to people? Well. everyone I know is employed so I guess that cancels out your anecdotal evidence with mine.

Maybe you should quit hanging out with losers.

So not only can you screw over the people around you without a care, you now need to label them as losers to justify your actions. That is sad.

Is that how you want society to work? Treat people like a commodity for your own personal gain?

 

[Tex]

What produces a better world society?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs

...

Most of China's GDP growth is due to internal demand, not exports. So they don't need our jobs and shouldn't get them until they at least play fair with their currency.

What reduces war more?
a) Saving 5 cents on a plastic trash can and
b) Your next door neighbor (China) having jobs.

So let's get this straight: we destroy our own economy and transfer wealth to a hostile power so they can build more weapons. Sounds like a plan for peace.