2 votes

Will Walmart “Made in America” Movement Hurt China?

Wal-Mart Stores Inc. (WMT) recently held what it called its "Walmart U.S. Manufacturing Summit." One of the purposes of the meeting was to promote new initiatives to build more of its products in America, thereby helping gross domestic product and employment. On paper this should hurt the fortunes of Walmart's suppliers in China and probably Mexico. Actually these companies have little to fret about. The Walmart plan to help the U.S. economy barely qualifies as a small step.

Walmart’s commitment to buy an additional $50 billion in U.S.-made products over the next 10 years and featured announcements from suppliers that, combined, are expected to infuse more than $70 million into factory growth and create more than 1,000 domestic jobs.

Wal-Mart said as recently as 2008 that it directly exported about $9 billion a year out of China, and third-party suppliers shipped another $9 billion, although it no longer provides that information on its website.

Taken as a whole, both the summit and its claims are bogus. That means Walmart's overseas suppliers have nothing to fear. The claims from the summit make the gathering barely worth having:

http://finance.yahoo.com/news/walmart-made-america-movement-...



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Walmart has a big Stick

Let them go with this proposal to the dopes in DC:

1) Relief from all monopolistic collective bargaining agreements that have any impact to cost of goods made in the USA. Manufacturing labor, transportation (truck rail or other), etc.

2) Relief from the minimum wage for any labor for any goods made for Walmart in the USA. And any Walmart employees, while you're at it.

And just watch those costs drop. You want jobs? we'll give you jobs, Mr. Politician.

Problem solved.

100 billion

They would get that out of China if they could imo.

They are not some mercantile out of the Little House on the Prairie lol

donvino