Thursday, August 03, 2006Post in which I say something positive about WalMex
... though regular readers (assuming these exist...) may cry foul.
Wal-Mart is the biggest private employer in Mexico and has many different store chains and restaurants.
Now, the corporation plans to open banks in its stores. Though critics of Wal-Mart may be skeptical of such a move, I think competition from Wal-Mart may be just what the Mexican banking system needs. Mexican banks provide poor service, charge ridiculous fees, and lack transparency. Many banking fees/policies disproportionately hurt the lower and middle classes and increased competition should help reduce fees and increase access to affordable credit.
I'm no fan of Wal-Mart (and when in the U.S., I do not shop there), but I do think WalMex banks would be good for working Mexicans.
posted by Michelle @ 12:32 PM,
- At 8/04/2006 4:58 PM, Chris Lawrence said...
No crying foul here.
I haven't shopped much at Wal-Mart the last two years, but largely because of inconvenience and not because of any "principled stand" (indeed, of all my college retail jobs, Wal-Mart paid the best).