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Wal-Mart defends itself in China

  • Wal-Mart (WMT) defends its practices in China in a statement issued in response to a critical report by CCTV.
  • The company maintains that it doesn't look to increase profits through measures that cut corners and skirt local laws.
  • Industry watchers note that a slap from CCTV can have a direct impact on sales for foreign sellers.
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