Wal-Mart Strikes Pay Deal With Chinese Union

Wal-Mart's latest agreement with the Chinese government is proof that if you're going to do business in China, you've got to play by the rules. The U.S. retailer, the world's largest, said Friday it had reached collective bargaining agreements with China's official union, the All-China Federation of Trade Unions (ACFTU), in several cities. Wal-Mart (nyse: ) operates more than 100 of its namesake stores throughout China and employs 48,589 people. Dave Orlins, president of the National Committee of U.S. China Relations, said the agreement is crucial to Wal-Mart's business. "To expand in China, one needs government support," he says. "This is what you should be doing in China." And Wal-Mart knows as much. "We support these efforts because of the valuable, mutually beneficial partnership the government-run union offers and... [read full story]