GEOG 1101 Lecture Notes - Lecture 8: Wage Labour, Proletariat, Capitalism Ii
28 Sep 2016
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Pull: retailers collect info on what i being sold and they send that info to the manufacturers. Cubical- walmart makes supplier drive down price and sell them at very cheep. Walmart wouldn"t take a price increase in a product for rubbermaid due to an increase in resin price rubbermaid tanked. Insanely low prices based on previous sales and other data. Get you hooked to that low price and then you assume that everything else in that area is the lowest price. Low cost imports from walmart helped keep the prices low. Clinton signed a permanent trade agreement with china. Walmart has 600,000 suppliers, 80% in china. Import in 36 billion and export 3 billion. Americans have money to buy imports but chinese don"t. Lots of jobs eliminated, but lots of jobs are created. Economic growth: value of all goods and services your country is producing is increasing gdp. Want people to produce more and consume more.
