n International Retail and Marketing Review - Foreword




The world economy has not been in so much turmoil for many years. The year has started with signs of economic recovery worldwide but was then dampened by major economic crises in Greece and Italy and a few others. Fears of a second recession have emerged and many economists believe that we are already in a second recession - that will be even more severe than the first. In South Africa the approval of the Massmart and Wall Mart deal has led to mixed reaction with fears of large scale retrenchments and the closure of many smaller retailers the order of the day. This has led government to once again intervene in the workings of the market and asked for a re-evaluation of the approval of the deal. As in any country interventions of this sort by government does not bode well for building confidence in the market.


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