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Wal-Mart Bids to Acquire Large Retailer in China

Wal-Mart will reportedly acquire the Chinese supermarket chain Trust-Mart. The deal would make Wal-Mart the largest foreign retailer in China; it currently has 66 stores there. If approved, the acquisition would give Wal-Mart more access to China's 1.3 billion consumers.

Wal-Mart is paying $1 billion for the Taiwan-owned Trust-Mart -- both the stores and the chain's local expertise, says financial writer Charles Fishman.

The strategy is similar to one that has worked in Mexico, says Fishman, author of The Wal-Mart Effect: How the World's Most Powerful Company Really Works -- and How It's Transforming the American Economy.

Robert Siegel talks with Fishman, a senior writer at Fast Company magazine.

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