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Globalization Impacts Retail Industry

PHOENIX-Growth in foreign countries, especially China and India, will have a long-term impact on the industry overall, ICSC speakers say.

By Debra Hazel | Updated on December 06, 2007

PHOENIX-Globalization will dramatically affect said speakers at International Council of Shopping Centers Centerbuild conference, which opened here today. China and India have been the focus of growth outside North America, and will continue to dominate trends long-term.

“Global retail development is in overdrive,” said Rene Tremblay, ICSC chairman and president and chief executive officer of Montreal-based Ivanhoe Cambridge. “Developers, architects and retail consultants are crossing borders, and the level will rise globally.”

World-class shopping centers can now be found on virtually every continent, he noted, with Western-style centers growing at a “frenetic” pace in China and India. The international movement has been undertaken by retailers as well as developers, as all cross borders. Expansion has been further fueled by population growth.

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