Wal-Mart Stores Inc.'s import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a U.S.-based non-profit think tank.
The world's largest retailer likely accounted for 15.3 percent of the growth in the U.S. goods trade deficit with China in the same period, the Economic Policy Institute (EPI) said in a report on Wednesday.
United States goods trade deficit with China increased almost fourfold to $324.2 billion in the 12 years till 2013, with Wal-Mart accounting for $48.1 billion of the total, the EPI said.
"Wal-Mart has aided China's abuse of labor rights and its violations of fair trade (norms) by providing a conduit for the distribution of artificially cheap and subsidized Chinese exports to the United States," the EPI said.
The EPI also said Wal-Mart's plan to source more U.S.-made goods had resulted in very few actual manufacturing jobs being created.
Wal-Mart said EPI's analysis was "flawed" and that the company adds jobs through areas of its business such as supply chain, logistics and distribution.
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10 comments:
YEAH. Walmart squeezes American companies as hard as they do foreign companies.
If you want to do business with the richest family on Earth, then you have to be willing to take bare bones profits, and, by doing so, must also reduce benefits, pay, and hours, just to survive.
They want to tell America what a GOOD thing that is.....with a straight face.
They don't do anything until it becomes a national disgrace and they have to react to the public shaming (health care, wages, hours, etc.).
Keep cheering.
We Americans love Walmart.
It is just that simple.
We love that company. It doesn't matter what the costs, we will always shop at Walmart.
Speak for yourself 2:01
Ditto 2:01, I think Wal Mart sells mostly seconds. You have to check the dates on meats, produce, and all cooler goods not to mention canned goods.
The Fruitland store is dirty, and they never seem able to keep anything in stock including their own brands. I would rather go to Giant. The food is fresh, the store is clean, they stand behind everything they sell, and the people are kind and friendly.
4:41
The Salisbury Walmart is horrible about keeping things in stock. They run out of the same things every week, yet something that doesn't sell is given more room on the shelf. You complain and they come up with stupid responses. I had a manager tell me they don't stock a lot of it because they don't sell that much of it. Well you can't sell something that is never in stock! The pet food section is the worse!
As far as Giant I used to really like them. They changed managers a few years back and I not as impressed with the store as I once was. It seems they have stopped hiring local people and seem to only hire college students now.
Send the jobs to China to make stuff to be sold to people who just lost their jobs and can't afford to buy it. Clever.
The Fruitland Walmart is pretty poorly kept, as Walmarts go. I avoid it, especially during the annual fruitfly infestation in the produce department.
The Fruitland Walmart is pretty poorly kept, as Walmarts go. I avoid it, especially during the annual fruitfly infestation in the produce department.
Ok folks....let's stay on point here. This isn't about how well they're kept or whether or not they sell seconds. The post is about the fact that they put 400,000 Americans out of work! I swear some people must have a 2 second attention span or the reading comprehension of a 3rd grader. Sadly we have been put in a position that we must make the most out of our money while we demand to be paid as much as we can get. Unions are the biggest violators. You can't pay someone to stand on an assembly line and make $30.00 an hour making a car and expect the manufacturer to sell the car for $10,000. Wait until the minimum wage goes to $15.00 an hour and see what a big mac costs. Then when McDonalds fails and closes all its doors, the employees will be out of work crying eating imported ramen noodles. The decadence of the current child bearing generation is a direct result of this mindset also unbelievable. I recently attended a birthday party for a two year old where there were not less than 50 attendees and a pile of birthday gifts a mile high. People stretching their money by buying imported goods from nations that have no ridiculous minimum wage regulations likely puts millions out of work nationwide. If we stopped demanding more money so that we could buy more things we don't need we would likely be able to buy more locally, provided the manufacturers would keep their prices down as well. GREED people. One of the seven deadly sins!
Most people just want more stuff. Brightly colored plastic lures them.
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