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It has pioneered and exploited with great verve the largest one-stop supercenters that are already such a feature of the US landscape, and are currently being built at the staggering rate of more than 200 each year. Finally Glass, Scott and their successors have taken Wal-Mart into a dozen international markets, and from the outset they have not been daunted by the novelty or size of the countries they have selected. From neighbouring Mexico and Canada, they moved to the biggest European markets, UK and Germany.
Of course, Chinese people outside China have always shown great entrepreneurial drive and skill: they run most businesses in South-East Asia, and are notably successful in the USA. There seems no reason to doubt that they will show similar traits at home. The transition is in progress, and after several decades shows every sign of success. 5 per cent (The Economist 2004c). This is three times that of the USA in the same period, and faster than Japan’s during its miracle years. China has become one of the manufacturing powerhouses of the world, as most people can testify from personal shopping experience.
Increasing drive for global procurement was becoming a key element of Wal-Mart advantage, especially in clothing. Wal-Mart’s own direct purchasing involvement seemed certain to provide potentially big percentage gains – estimated by Deutsche Bank at 4–6 percentage points. WA L - M A R T: T H E C O L O S S U S 21 Asda UK has been able to introduce 8000 of its 12,000 new lines, noted in former CEO Tony de Nunzio’s latest report, as a direct beneﬁt from WalMart global sourcing. It’s not all good news – at least in an American election year.