3/2/2009

In a move that is expected to put additional pressure on Chinese retailers, foreign-owned stores and restaurant chains operating in China are starting to offer steep discounts to spur consumer spending. The efforts are a turnaround from when the retailers first entered the Chinese market. Foreign retailers charged more, saying the markup was the price for higher quality and better service. The global economic downturn has prompted the foreign retailers into a price war in the world's third-biggest economy.

Related Summaries