- 'It takes two to tango,' Beijing tells US [Financial Times]
If setting global trends is any benchmark, the US-China top-level dialogue which begins its third meeting on Wednesday at a near-replica of the Forbidden City outside of Beijing, can already be marked down as a success. Launched last year on the initiative of Hank Paulson, the US Treasury Secretary, the format has been replicated by Europe and Japan, which have both now established forums to engage with China at a senior level.
- Wal-Mart aims higher in China [China Daily]
Wal-Mart will open its 100th store in China, the retailer announced yesterday. Wal-Mart Stores Inc, the world's biggest retailer, said it would continue expanding here at more than 30 percent annually. The US retail giant now has 94 stores in China, and was preparing to open more, Terrence Cullen, vice-president of development for Wal-Mart in China, told a news conference in Beijing yesterday.
US retail giant Wal-Mart has added another store in its drive to expand in China's huge market. The new branch in central China's Hunan province is the retailer's 94th on the Chinese mainland. Walmart has the goal of opening 100 stores on the Chinese mainland. The latest outlet brings the company a step closer. The US trade deficit with China has hit a new record, fueling complaints in US Congress about China's trade practices. But according to senior US commerce officials who attended the store's opening celebrations, increasing China's consumer's base will eventually help bridge the gap between the two countries and better balance trade.