Posted on 03/24/2017 10:24:32 PM PDT by 2ndDivisionVet
Jack Ma is one of China’s richest men, with a fortune valued at nearly $30 billion. As executive chairman of Alibaba Group, he leads the dominant force in Chinese e-commerce, a company with a market value of $264 billion and some 450 million customers. A global ambassador for Chinese business, he spent 800 hours aloft last year—visiting princes, Presidents, and Prime Ministers and lots of mere businesspeople too. “A professional pilot cannot travel that much, or so I’m told,” he boasts.
Even so, the rich and powerful people who meet with Ma tend to come away from the experience with a fresh nugget of information, either about him or about the still poorly understood digital conglomerate he started with a bunch of friends 18 years ago in the provincial coastal city of Hangzhou. Jim Kim, a physician who is the president of the World Bank, met Ma four years ago over a dinner lasting more than three hours and was startled to find the billionaire wearing sandals, holding Buddhist prayer beads, and sitting cross-legged on his chair. Kim was so taken with Ma’s passion for facilitating global trade by focusing on small-business people that he’s rethinking his international development organization’s approach....
(Excerpt) Read more at fortune.com ...
>>Kim was so taken with Ma’s passion for facilitating global trade by focusing on small-business people that he’s rethinking his international development organization’s approach....
And we just got done with 8 years of a President whose every action seemed designed to hurt small business. It may not have been intentional, but then again . . .
BABA’s stock closed at an all-time high this week.
Amazon is likewise near its top. If AMZN falls below 838, might run down to 750 which is buying opportunity. I sold AMZN last week at 845. Thought third interest rate increases would spook market. It has but not to where there was a sell off.
I source material for my metal fabricating company. Every so often I get something out of our ordinary groove and a web search will often hit Alibaba. A worse cludge of a website I cannot imagine. I wonder about that company’s valuation and how much business it really does?
As long as he pays off the ‘communists’ he will be allowed to lie about the sales figures and continue selling counterfeit products.
Fake sales and fake goods
https://www.forbes.com/sites/gordonchang/2014/11/30/chinas-cyber-monday-fake-sales-does-alibaba-have-a-sustainable-business/#547d0dd87123
http://www.usatoday.com/story/money/markets/2015/01/28/china-criticizes-alibaba/22452417/
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