Saturday, February 17, 2007

Forget the World Bank, Try Wal-Mart

Between 1990 and 2002 more than 174 million people escaped poverty in China, about 1.2 million per month. With an estimated $23 billion in Chinese exports in 2005 (out of a total of $713 billion in manufacturing exports), Wal-Mart might well be single-handedly responsible for bringing about 38,000 people out of poverty in China each month, about 460,000 per year.

Act locally, think globally: Shop Wal-Mart.

Michael Strong, CEO and co-founder of FLOW.

Watch a
5-minute interview of Michael Strong on Bloomberg's Money and Politics, via Cafe Hayek.


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