The Bottom Line
The daily Minyanville take on news, commentary and opinion from around the world:
With a government-endorsed shift away from investment towards consumption, 1.2 billion Chinese consumers have started to spend their savings, launching the retail sector on a period of monstrous growth, according to Kent Ewing in the Asia Times. Now, a who's-who list of retailers, from IKEA to Wal-Mart, is jumping on the bandwagon.
- Bottom Line: Chinese citizens, look below... peer into your future...
Meanwhile, as Chinese citizens learn the art of credit, Adidas America has introduced a line of sneakers, Adidas "Yellow Series," which feature an embroidered caricature of an Asian Man with a bowl haircut, slant eyes and buckteeth. The caricature is the work of graffiti artist Barry McGee who himself is part Chinese. Still, some are taking offense at the Yellow Series shoe and its sales icon:
- Bottom Line: What's that saying? Oh yeah, something about he who laughs last.
Click on image to watch video (Warning: language)
Microsoft (MSFT) Chairman Bill Gates invested $84 million in ethanol last week in anticipation that technology will help wean America from its oil addiction, according to the Seattle Post-Intelligencer. Gates' Cascade Investments LLC bought a stake in Pacific Ethanol Inc. of Fresno, Calif., which says it will become the largest seller of corn-based fuel additives on the West Coast.
- Bottom Line: Welcome to the future of Roadside Assistance: "Tech support? Hello?"
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