Word: wals
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...Wal-Mart shoppers, meet Xu Yaqing. She's a 62-year-old retiree who lives on a fixed income in Beijing. Xu and her husband get by on $263 a month, and lately, the couple's monthly pensions haven't been enough. The price of the peanut oil that Xu cooks with has doubled in the past few months, and soaring costs for other staples have forced them to cut back on milk and to substitute bean curd for meat. They're not starving. But they're scared. "Prices are going up so much and so quickly," Xu complains...
...lamentations, and those of her fellow Chinese, may soon be reverberating around the world, and particularly loudly at big-box retailers like Wal-Mart in the West. That's because all those inexpensive exports gushing out of Chinese factories - the $15 sweaters, the $25 sneakers, the sub-$100 DVD players - may start getting pricier as the mainland struggles to bring its runaway economy under control. Not all economists agree it's inevitable, but some are warning that an era during which low-cost Chinese production helped to maintain unusually stable prices for manufactured goods around the world is coming...
...Although it may not be evident at the local Wal-Mart yet, these forces may already be in play. Demand from China, along with other fast-growing emerging economies, has driven up the price of oil and a wide range of other commodities for the past several years. But what's really worrying many economists is the sudden appearance of relatively high inflation within China and the ripples that might cause abroad. Despite five interest-rate increases this year by China's central bank, the country's consumer price index has been stubbornly on the rise. In August, inflation climbed...
...result: dragons now own 30,000 shares in Wal-Mart...
...black T shirt and jeans driving a politically incorrect white Hummer. "Believe it or not, this is a pretty nice little town," he said as we headed out to his ranch, past a bleak, unending landscape of big-box stores that brought to mind a recent Haggard lyric: "Everything Wal-Mart all the time, no more mom and pop five and dimes... What happened, where did America go?" A vague populist annoyance with big stores and big shots is one of the themes that have led Haggard to "change labels," as he told me with a laugh. "The folks...