Wen Jiabao, Premier of the Peoples Republic of China (AP)
Wal-Mart, Retailers and China Story aired: Thursday, December 09, 2004
Wal-Mart is having a mixed holiday sales season, and is lowering its forecast for December sales. We'll talk about what the slump means for the big box retailer, and look at how they keep their prices so low.
At the end of this year, a U.S. import quota on clothing is set to expire, opening the U.S. market to a flood of cheap clothing from overseas, chiefly China. We'll take a look at what this influx could do to the American and European apparel industry.
