Wal-Mart Has Done More for Poverty Than World Bank, IMF and United Nations?
Has any organization in the world lifted more people out of poverty than Wal-Mart, asks John Tierney in today's NYTimes? Probably not.... He cites an article from TCSDaily.com titled "Forget the World Bank, Try Wal-Mart":
Even without considering the $263 billion in consumer savings that Wal-Mart provides for low-income Americans, or the millions lifted out of poverty by Wal-Mart in other developing nations, it is unlikely that there is any single organization on the planet that alleviates poverty so effectively for so many people. Moreover, insofar as China's rapid manufacturing growth has been associated with a decline in its status as a global arms dealer, Wal-Mart has also done more than its share in contributing to global peace.
There are estimates that 70 percent of Wal-Mart's products are made in China. One writer vividly suggests that "One way to think of Wal-Mart is as a vast pipeline that gives non-U.S. companies direct access to the American market."