I say Wal-Mart is great for America:
Wal-Mart Stores Inc. is bidding about $1 billion for a chain of 100 hypermarkets in China in a deal that could vault it ahead of competitors to become the country’s biggest food and department store network, reports said Tuesday.The Chinese aren't going to take us over; Wal-Mart is.
Wal-Mart plans to buy the hypermarkets from Trust-Mart, a Taiwanese company, The Wall Street Journal said, citing people familiar with the transaction.
The Financial Times, citing people close to the negotiations, said Wal-Mart had emerged as the leading bidder for the chain but said no agreement had been reached. The New York Times reported that Wal-Mart expects to close the purchase by the end of the year, but still needs government approval.