Marketplace AM for November 16, 2004

Episode Description 

China and Wal-Mart

Wal-Mart announces third quarter earnings today. You can bet the profit figure will be astronomical. It's hard to overstate Wal-Mart's influence on the world economy. At least $15 billion of Chinese imports went to the retail giant last year. China has found an unexpected ally in the company. In an investigation for the PBS program Frontline, Hedrick Smith reports.

Will New York pay the price?

New York City has several high-cost projects in the works, from re-building downtown Manhattan to shoring up anti-terrorism defenses. In the presidential election, 81 percent of New Yorkers voted for John Kerry. Now, some wonder whether that show of anti-Republican feeling could come back to haunt the city when it comes to funding from Congress. Marketplace's Ashley Milne-Tyte reports.