The Chinese giant’s Executive Chairman Jack Ma laid out a decisive plan for his e-commerce company to expand into the US, in a meeting with Donald Trump.
Editor’s Remarks: Alibaba runs large online commerce platforms in China and aims to bring a million small American businesses into the fold to facilitate sales to Chinese consumers. It expects massive US job creation as each company adds a position in order to tap into the 1.4 billion-strong Chinese consumer market. Alibaba also appears to be eyeing up a radical new model for Chinese retail as it leads a $2.6bn bid to buy out ailing state-owned Chinese retail company Intime: the former reportedly plans to use Intime’s department stores and malls to create collection points and physical presence for online brands, and integrate data on consumer habits across the two spheres of commerce. The news might cast a shadow of doubt over how serious Trump is in his anti-China rhetoric, as information over his own family’s business dealings with Chinese companies was released last week.
What To Watch: Alibaba, Donald Trump, Jack Ma, Bob Christie, Shen Guo Jun