last-ditch battle to stop Tesco from operating
Traders in Seberang Perai Tengah, Penang, are in a last-ditch battle to stop British-owned hypermarket Tesco from operating in their neighbourhood.
They are not alone in their protest against the opening of a hypermart – a similar refrain is being heard worldwide.
In his book ‘The Wal-Mart Effect’, Charles Fishman noted that retail giants “reshape the economic life of the towns and cities where it opens stores; it also reshapes the economic life… steadily, silently (and) purposefully moves… (the) economy”.
Fishman claimed that Wal-Mart and possibly others like it have become the most powerful and influential companies in the world.
The LA Times business section ran a series of articles in 2003 illustrating the dangers of ‘The Wal-Mart Effect’, describing the effect that retail giants have in marginalising small businesses and local economies as well as suppliers across the globe with their pricing policies.
Category: General
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