, not to mention the overall pressure on the economy and ongoing trade tensions with the U.S. But Chinese government policy announcements this summer to boost consumption makes it clear."Consumption overall is robust, and you see what is driving that, it's new consumers entering the middle class, and that is the primary driver of growth in the China market," Daniel Zipser, senior partner at McKinsey, said in a phone interview earlier this month about an upcoming report.
Overall, Walmart spent more than 400 million yuan in the past 12 months to upgrade its China stores, Daniel Shih, chief of corporate affairs for the company in China, said in a phone interview with CNBC earlier this month. He added that in the next decade or two, Walmart plans to invest 8 billion yuan in supply chain development.Evelyn Cheng | CNBC
The other key to the company's growth, especially Sam's Club, is product quality, Shih said, noting how friend groups and social media influencers play an important role in driving sales .
China is an enigma . Two Chinas one that has a wealthy upper class of maybe 100 Million and 1.3 Billion poverty stricken peasants all living in a Communist Country . It defies Logic . So is it a Capitalistic Country or Communist Country. It really cant be both .
That’s MAGA for ya.
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