Wednesday, December 06, 2006

Federal Express poised to enter China's domestic market

Frederick W. Smith, chairman, president and CEO of FedEx -- parent company of Federal Express, said his company is poised to enter China's domestic market, too. It's building a hub in Guangzhou Province. Federal Express already ships packages to some 200 Chinese cities.
Part of his confidence stems from China's success in building transportation infrastructre. "Any major airport in China puts any major airport in America to shame," he said. Same with the ports.
He contrasted China with other emerging economies like India. India was stalled in building a new airport in Mumbai because 250,000 squatters were living there; the country's tradition and legal system prevented evicting them. China "moved an entire village to build an airport."
05/12/06 Paul Bass/New Haven Independent, USA