Costco warehouse stores are bringing Chinese consumers something they have been missing — brands they can trust — and that could change China more than the trade war.
Tainted capitalism is promoted by China’s “get rich quickly” rising class, which at times places the lives of Chinese consumers at risk with tainted products. Like dental paste tainted with a poisonous chemical used in antifreeze products, cold syrup tainted with poisonous chemicals, substandard baby formulas, and defective home appliances.
What will change China’s tainted capitalism is the presence in the country of American companies like Costco, which promote a modern version of capitalism where the consumer rather than the producer is at the center of the economic universe; and where profit is a consequence of pursuing a business rather than the cause of being in business.
Most notably, Costco has set itself apart from other US retailers in terms of customer satisfaction. It is ranking 83 in customer satisfaction compared to 82 for Amazon and 72 for Walmart.
That’s something China desperately needs, as it makes the transition from a producer to a consumer society.
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