Word: mastercards
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...holiday season proved merrier than expected for U.S. retailers, with MasterCard estimating a 3.6% increase in sales vs. 2008. Analysts credit the surge in part to an extra day of shopping between Thanksgiving and Christmas...
...SOURCE: MASTERCARD ADVISORS SPENDINGPULSE...
...good news is that just about any type of plastic works: MasterCard, Visa, American Express, and Discover are all welcome. Debit cards...
...those figures tell us is that Chinese consumers may be spending more, but not nearly enough to ensure sustainable growth for the Chinese economy down the road. "The consumer revolution already has been happening, but it could be much, much better," says Yuwa Hedrick-Wong, an economic advisor to MasterCard Worldwide. (See TIME's photoessay "Mass Transit: The Best-Selling Cars in China...
...centers creating a mass of 900 million people who still tend to be very heavy savers. Huang suggests that China needs to act aggressively to boost rural incomes, by, for example, extending banking systems deeper into the countryside to give farmers better access to credit to start small businesses. MasterCard's Hedrick-Wong argues that China should also open up service industries now dominated by large, state-owned companies, such as finance, to allow new entrepreneurs to flourish, creating more jobs with higher wages...