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Some of the biggest international retailers are going ahead with ambitious expansion plans in China, which remains a relative bright spot in a world of slumping sales.
Companies like U.K. supermarket chain Tesco PLC and big-box retailers Carrefour SA and Wal-Mart Stores Inc. continue to see the Chinese consumer as a good long-term bet. For now, even though consumer sentiment in China shows clear signs of flagging, retail sales growth is still positive.
Retailers 'look stupid if they open in Europe or the U.S., so emerging markets [like China] look more attractive,' said Morgan Parker, Asia president of luxury ..."