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Yiwu International Trade City (Chinese: 义乌国际商贸城), also known as the Yiwu Market, is the primary wholesale market complex in Yiwu, Zhejiang, China. According to the World Bank, it is the world's largest small commodities market. [3] [4] In 2022, the market sold around US$70 billion of goods. [5]
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The Festival Flea Market Mall has an open, multi-merchant flea market style layout. The large number of merchants offer a wide variety of products extending beyond typical flea market fare to include groceries, furniture, antiques and luggage.
The show pits two teams against each other in a competition to "flip" used items at a flea market for a later profit. Each team of two is given $500 to buy furniture at a flea market. They are then given $100 to refurbish the items before trying to resell them for a profit at a different flea market. The team that makes the most profit wins $5,000.
Market size can be given in terms of the number of buyers and sellers in a particular market [61] or in terms of the total exchange of money in the market, generally annually (per year). When given in terms of money, market size is often termed "market value", but in a sense distinct from market value of individual products.
It is the largest wholesale food market in Beijing, [10] with three floors above ground and two underground in 2018. [9] It was the largest wholesale food market in Asia, [11] with as of 2020 more than 10,000 workers [1] including 1,500 managers and over 4,000 tenants. [12]
Wholesalers frequently physically assemble, sort, and grade goods in large lots, break-bulk, repack, and redistribute in smaller lots. [2] While wholesalers of most products usually operate from independent premises, wholesale marketing for foodstuffs can take place at specific wholesale markets where all traders are congregated.
Born into a trading family with two younger brothers, Tulsi Das Mundhra and Manmohan Das Mundhra, Mundhra started life as a light-bulb salesman, and pyramided his holdings by "fast deals and stock juggling", buying shares of small companies and hiking their prices up through circular trading and rumour mongering into a Rs. 40 million (US$10 million) empire. [2]
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