According to statistics released by the government of the Hong Kong Special Administrative Region, the total sales value of its retail industry increased by 12.7% year-on-year in the first ten months of 2008 while its total sales volume increased by 6.4%.
Sales in October 2008 rose 0.3% to HKD20.8 billion. Adjusting for the effect of price changes, sales volumes decreased by 4.3% compared with the same period last year.
At the same time, the government said the revenue from Hong Kong's warehouse, communications, finance, commercial services, insurance, and banking industries reached HKD1.1 trillion in 2007, a year-on-year increase of 26%. Of this, the total revenue of the insurance and finance industries increased 31%, attributed to the boom of life insurance business and the stock market. Banking revenues increased by 29% in 2007 while that of commercial services, communications, and warehouses increased by 16%, 6% and 3%, respectively.
In addition, the total revenue from Hong Kong's catering, hotel, retail, wholesale, and import and export trades increased 3.1% year-on-year in 2007. Of which, the catering industry attained the greatest growth with a year-on-year increase of 22.6%.
People in America need to realize jus what got America in this shape…"cheap" yes so-call cheap items from a foreign land.
quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote!
Now! if there be 182 country's making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the "yuan" going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price.
People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the "we the people" have to turn to the "second" largest employer in America(Uncle Sam) to sell "we the people" debt in order to get all them dollars back!
50 years ago a foreigner would had given their left nut for a US dollar or a Hershey's chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think "MADE IN AMERICA."