Wal-Mart And North Korea: Meant For Each Other?

Looks like Walmart already sent him the clothes & glasses he’s wearing in the pic.

Ain: I thought that was a sneak peek at the new Fall line. WalMao.

And what would preclude North Korea exporting textiles to another country,who then would resell it to WalMart? Lke a middleman---on paper? Or is that being done already?

USA TO KIM JONG-IL:

Quit your nuclear program of we’ll sic Wal-Mart on you! (You think your economy is in tatters now.)

Ken V : Careful ,Ken-you don’t want to be “tarred” as advocating “appeasement”!

What better place to ship all the recalled junk that they can’t sell in USA.

Hey Come On Everyone!  Don’t Be So Hard on North Korea!

North Korea is trying to let the U.S. and Wal-Mart get off easy!  It took the Vietnam War to earn the priviledge of seeing shirts and other textiles made in Vietnam, proudly displayed on U.S. store shelves.

Wow, imagine this.  Another completely skewed story from WMW?!?! 

“They mentioned the possibility of exporting North Korean textiles to U.S. retail stores, specifically mentioning Wal-Mart.”

So, a North Korean trade official mentions trade with the US, and mentions the largest company in the US by name. 

I’m actually surprised you guys didn’t photoshop a picture of Lee Scott shaking Kim Jong-Il’s hand. 

Nowhere do you have anyone from Wal-Mart stating that they are seeking trade with North Korea. 

There are two key paragraphs that blow your title and lead paragraphs out of the water Eric,

“But there are several hurdles, including complete and verifiable denuclearization, that Pyongyang would have to clear before the Stalinist state can develop business ties with America”

And:

“But Namkung said it would be difficult for companies like Wal-Mart to sign business deals with North Korea right away, even if the United States lifts economic sanctions. He said North Korea would need to reform their system, open up their economy and their borders to the outside world. “

So basically your story boils down to:  North Korean official mentions WM by name.  There is no way WM would trade with NK unless they:

1.  Denuclearize.
2.  Remove the Communist government.
3.  Reform their economic system.
4.  Open up their economic system to the outside.

But your dishonest story makes it sound like Lee Scott is searching out slave labor.  He didn’t.

Walmart wants to be North Korea’s rice broker.

Even with the Global shortage, they’ll find a way to get in the Koreans pockets too.

There is no way WM would trade with NK unless they:...

Like Wal-Mart wouldn’t deal with a communist, nuclear, government, Scott.

Your comments basically boil down to the fact you are biased in favor of China!

(See how silly you sound?)

Ken,

I was simply pointing out that the story posted directly contradicts the title and narrative that came with it.

Ken: China has been very good to WalMart.,especially the business partnerships between Li Ka Shing and WalMart.

Another Port Deal: Mexico, Red China, Wal-Mart
by William F. Jasper
March 11, 2006

The Hong Kong-based shipping company Hutchison Whampoa Ltd. and retail giant Wal-Mart Stores Inc. are partners in a new $300 million expansion of Mexico’s Pacific port of Lazaro Cardeñas, according to a February 12 report from Reuters news service.

Since U.S. west coast ports are becoming clogged with container ships filled with made-in-China goods, Wal-Mart and its Chinese suppliers are looking for new ports to bring their wares into the United States. The expansion project, reportedly, would increase Lazaro Cardeñas’ current annual handling capacity of 100,000 containers to 700,000 containers over the next couple years, with possible expansion to two million containers.

Hutchison Whampoa Ltd. is run by Hong Kong billionaire Li Ka-shing, whose business empire is intertwined with companies that front for the communist intelligence and military arms of the People’s Republic of China, such as the China Ocean Shipping Company (COSCO), China Telecom, and the China International Trust and Investment Corporation (CITIC). Li Ka-shing, a key agent in China’s global agenda, controls key ports around the world, including the ports at both ends of the Panama Canal.~~~~~~~~~~~~~Incidentally, Bill Clinton signed the document relinquishing U.S control over the Panama Canal Zone ,back at the end of 1999.For further info,Google “Bill Clinton and Li Ka Shing.”

“According to Judicial Watch, “Hutchinson, Whampoa, Ltd. is the holding company of billionaire Li Ka-shing, a well-known businessman, whose companies make up 15 percent of the market capitalization of the Hong Kong Stock Market.” A Judicial Watch complaint filed in 2002, at the time HWL was purchasing the then-bankrupt Global Crossing.

According to a declassified U.S. government intelligence report that Judicial Watch obtained in a Freedom of Information Act (FOIA) request, “Li is directly connected to Beijing and is willing to use his business influence to further the aims of the Chinese Government.” Judicial Watch had objected that “Li Ka-shing’s agency relationship to the Communist Chinese should disqualify him from owning Global Crossing’s network, which controls a significant percent of all the fiber optics currently leaving the United States.”

Global Crossing was a Clinton Administration darling, noted for turning former Democratic National Committee Chairman Terry McAuliffe’s $100,000 investment into an $18 million personal fortune. Global Crossing’s bold move to control the U.S. international fiber-optics network over-reached, ending in a corrupt corporate melt-down that was an unfortunate prelude to the Enron debacle. Hutchinson Ports was forced to drop the bid to purchase Global Crossing when the Committee on Foreign Investments in the United States (CFIUS) refused to approve the transaction on national security grounds.

Li Ka-shing’s Hutchinson Ports also operates both ends of the Panama Canal, which we have previously documented was returned to Panama under the Carter administration by National Security Council advisor, Robert Pastor, whom some have called the “Father of the North American Union.” HWL also has business dealings with the China Ocean Shipping Company (COSCO), China’s largest shipping line, which is owned by the Chinese People’s Liberation Army. In 1998, Congress blocked on national security grounds an attempt by the Clinton administration to allow COSCO to lease the abandoned Long Beach Naval Station” .(J. Corsi)~~~~Note: The return of Panama was initiated by the Carter administration,but was signed into effect by Bill Clinton.

How do you spell” appeasement” in Chinese?

-------------------------------------------------------------------June 26, 2007 | EPI Issue Brief #235

The Wal-Mart effect
Its Chinese imports have displaced nearly 200,000 U.S. jobs

by Robert E. Scott

China’s entry into the World Trade Organization (WTO) was supposed to improve the U.S. trade deficit with China and create good jobs in the United States. But those promises have gone unfulfilled: the total U.S. trade deficit with China reached $235 billion in 2006. Between 2001 and 2006, this growing deficit eliminated 1.8 million U.S. jobs (Scott 2007). The world’s biggest retailer, U.S.-based Wal-Mart was responsible for $27 billion in U.S. imports from China in 2006 and 11% of the growth of the total U.S. trade deficit with China between 2001 and 2006. Wal-Mart’s trade deficit with China alone eliminated nearly 200,000 U.S. jobs in this period.

The manufacturing sector and its workers were hardest hit by the growth of Wal-Mart’s imports. Wal-Mart’s increased trade deficit with China eliminated 133,000 manufacturing jobs, 68% of those jobs lost from Wal-Mart’s imports. Jobs in the manufacturing sector pay higher wages and provide better benefits than most other industries, especially for workers with less than a college education.

China has achieved its rapidly growing trade surpluses by purchasing more than $1 trillion in U.S. Treasury bills and other government securities over the past few years in order to artificially and illegally reduce the value of its currency and thereby lower the cost of its exports to the United States and other countries. It has also repressed the labor rights of its workers and suppressed their wages, making its products artificially cheap and further subsidizing its exports. Wal-Mart has aided China’s abuse of labor rights and its violations of internally recognized norms of fair trade behavior by providing a vast and growing conduit for the distribution of artificially cheap and subsidized Chinese exports to the United States.

China trade and U.S. job loss

Exports support jobs in the United States, and imports displace them.  Thus, the net effect of trade flows on employment must be based on an analysis of the trade balance. This Issue Brief calculates the employment impacts of growing trade deficits by using an input-output model that estimates the direct and indirect labor requirements of producing output in a given domestic industry. The model includes 200 U.S. industries, 86 of which are in the manufacturing sector.

The job losses presented here represent what total employment levels would have been in the absence of growing trade deficits.

U.S. exports to China in 2001 supported 189,000 jobs, but U.S. imports displaced production that would have supported 1,190,000 jobs. Therefore, the $84.1 billion trade deficit in 2001 displaced 1 million jobs in that year. Job displacement rose to 2,763,000 in 2006. Growth in trade deficits with China has reduced demand for goods produced in every region of the United States and has led to job displacement in all 50 states and the District of Columbia.  On average, each of the 4,022 stores Wal-Mart operated in the United States was responsible for the loss of about 77 jobs due to Wal-Mart’s trade deficit with China in 2006.~~~~~~~~Robert E. Scott,EPI.(6/26/07

Jubak’s Journal
What China needs now: unions

The U.S. trade gap with China is booming, and steps like revaluing the Chinese currency won’t solve the problem. What we really need is for Chinese workers to earn more.

By Jim Jubak

In January and February, the U.S. trade deficit from China jumped 50% from a year earlier. China now accounts for about 25% of the total U.S. trade deficit.

With the trade deficit hitting a new record in February at $61 billion and with March expected to inch a few hundred million higher when those numbers are reported on May 11, something has to be done.

Unfortunately, all the “somethings” being proposed in Washington and on Wall Street won’t do anything to fix the problem. At best, they’re like spitting in the ocean. At worst, they’re the first step to setting off the kind of retaliatory trade war that produced the Great Depression.

But don’t worry. I’ve got the answer. What China needs—and what would close the U.S./China trade gap most expeditiously—is unions. Nothing would close the gap in wages and benefits between China and its trading partners in the developed world faster than giving Chinese workers the right to form truly independent unions. (MSN Money,’05)

*s mouse must be working overtime…

So must be the rats.

bbrd,

Think how many hours ddrb must spend online each day, searching for all of her articles!!  Then, the next question would be WHY?

RDS: It is not necessary to search for hours-that’s what Google is for. Perhaps if you would avail YOURSELF of Google ,on a reegular basis:(1.) You MIGHT learn a great deal and expand your consciousness,(2) Your posts would possibly have more gravitas and credibility,whether others agreed with them or not. I doubt that you will avail yourself of seeking independent knowledge for yourself. After all, YOU and WalMart are the center of the universe, what else do you ( or we) need to know ,correct?

Perhaps if you would avail YOURSELF of Google...

So, just because it’s on Google (and agrees with your point of view) it must be right.

Better stick on playing solitare on your PC—you won’t get suckered, that way…

bbrd: Yeah,RDS,maybe bb has some advice worth the price it cost them.

bbrd: So,if ever someone comes to substantiate an argument for the Pro-side,it would be appropriate to discredit them for using Google to bolster their position,acording to your rebuttal.

No, not at all...in fact, I made a reference to Google (just for your benefit) on another thread…

ddrb,

“So,if ever someone comes to substantiate an argument for the Pro-side,it would be appropriate to discredit them for using Google to bolster their position,acording to your rebuttal”

That would be fine, but, most of the (GOOGLE) posts you make, have nothing to do with what others have said!!  You bring up political posts, posts about highways in N.W. Arkansas, posts about changing a street name in Fayetteville, posts about art being purchased for a museum in Bentonville, posts about changing REIT laws, etc., which are in rebuttal to NO ONE!!

RDS: In YOUR opinion.

RDS speaks the truth, and he’s a helluva better typist, too! :0)

bbrd,

I have noticed, that quite often, ddrb has a hard time spacing after commas!!

RDS,

Guess we’ll just have to start calling * “Google Girl"…