News That Stays News

China, Walmart February 20, 2011

1. One of the first solid pieces from Banyan – this one is about China and Egypt.

2. More on Chinese luxury consumption habits. The correspondent talked to one Beijing housewife and concluded that

For the most ostentatious Chinese consumers like to shop abroad. CLSA estimates that 55% of the luxury goods bought by Chinese people are bought outside mainland China. This is partly because of those high tariffs, which can top 30%. But it is also because counterfeiting is rife. Ask a well-heeled Chinese lady about her new handbag and she is quite likely to point out that she bought it in Paris. This tells you not only that she is rich enough to travel, but also that the bag is genuine.

3. Wal-Mart failed in Germany?

4. Signs of progress- Wal-Mart enters Africa.