Why Chinese Consumers Won't Replace Walmart Momshttp://blog.newsweek.com/blogs/wealthofnations/archive/2009/06/17/why-chinese-consumers-won-t-replace-wal-mart-moms.aspxThe hottest debate over the world economy these days is not on the fate of America, it’s on the fate of China. Will it be the worst victim, or the most successful survivor, of the global crisis of 2009? So far the news all points to success, as numbersenCommunityServer 2.1 SP2 (Debug Build: 2.18)re: Why Chinese Consumers Won't Replace Walmart Momshttp://blog.newsweek.com/blogs/wealthofnations/archive/2009/06/17/why-chinese-consumers-won-t-replace-wal-mart-moms.aspx#1066443Thu, 18 Jun 2009 10:22:56 GMT544c64cf-7058-4151-925a-a0fd041e73dd:1066443Sang8<p>It is also interesting to note that while China represents 12% of luxury sales world wide, government officials, their families, and their mistresses account for the majority of this spending. Just ask any luxury goods sales person in Beijing, Shanghai, or Hong Kong. In addition, the majority of this spending is done when they are traveling abroad (on “fact” finding missions) courtesy or mainland tax payers. </p> Blog: Wealth of Nationsre: Why Chinese Consumers Won't Replace Walmart Momshttp://blog.newsweek.com/blogs/wealthofnations/archive/2009/06/17/why-chinese-consumers-won-t-replace-wal-mart-moms.aspx#1066447Thu, 18 Jun 2009 10:36:18 GMT544c64cf-7058-4151-925a-a0fd041e73dd:1066447Ronald<p>If all GDP growth came from infrastructure spending, how do you explain 17% increase in retail sales year over year, 20% increase in car sales and residential home sales. </p> Blog: Wealth of Nations