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Walmart amassed a fortune selling cheap Chinese crap to discount-hungry U.S. consumers. Now, the world's largest retailer hopes for a repeat performance In China where a slowing economy is likely to send consumers on a hunt for bargains. 

 

Chinese regulatory officials recently gave their seal of approval to the discount retail giant's request to gain majority control over one of China's largest e-commerce sites to sell its low-cost Chinese-made merchandise to the communist nation's people in the privacy of their own computers, reports Wired magazine.

 

Walmart owns 370 brick-and-mortar stores under various names in China that in the past generated as much as $23 million each, still a far cry from the average $70 million per store in the U.S., the magazine reported.

 

But, to succeed in capturing the wallets of Chinese consumers, the Bentonville, Ark.-based chain will have to hurdle obstacles it doesn't normally face stateside. For instance, it'll still have to wend its way through a governmental bureaucracy that favors domestic over foreign retailers. 

 

Walmart's new online presence, however, may help them break through some of those challenges.

 

Read all about it: http://bit.ly/R4aSsX.