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American Retailers Wake Up

We ran across this fascinating passage from a Financial Times article on a French retail chain just opening up operations in Russia.

The French retail chain said that of its 40,000 products for sale…95 per cent are purchased within Russia. Although these figures mask imports bought from Russian wholesalers, the piece goes on to say that they “estimates that more than 90 per cent of the food it offers is produced in Russia. Some 60 per cent of textiles are also local. Over time, it hopes to build up the local content much further.

Can you imagine an American retailer pursuing that strategy in the United States, recognizing that if its customers aren’t producing anything, ultimately they won’t be able to buy anything?  Wake up America!