Tuesday, October 16, 2007
Wal-Mart and Globalization
Wal-Mart have grown to be the most popular company in over two decades. Some company are mad that Wal-Mart became successful. Wal-Mart low prices benefits millions of American consumers. Wal-Mart created suppliers that produce goods cheaper than they ever could before.Wal-Mart is the best company of its kind in promoting efficiency, low-cost sourcing. Gary Geferri was talking about how the flip side of that model is that this has come at the cost of U.S. jobs that are actually moving offshore, and even Wal-Mart's own suppliers are concerned that by pushing costs down so low, companies can no longer be profitable. So in a sense, it's like we have two models in the world economy.
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American consumers gain, American workers lose. What is the solution to this problem? Can both win? Or is there an inherent conflict between low prices and high wages in a global economy?
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