Making money in places where people earn $2 a day

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Interesting story in Forbes about how P&G is trying to target the bottom-of-the-pyramid (à la Prahalad) in China.  Brings to mind the long running success that Unilever/Hindustan Lever has had in India. For Western CPG companies to get this right in China will be a huge opportunity, but local competitors will have their own advantages.  Unless, of course, the quality scandals that have afflicted so many consumer categories continue to damage the trust in domestic products.