Calling Alibaba “the Amazon of China” understates its influence. Chinese shoppers visit Alibaba’s Tmall and Taobao sites for everything from groceries to SUVs to fake girlfriends. Alibaba has more customers than the US has citizens. The heart of the Alibaba story is founder and CEO Jack Ma. Author Duncan Clark, an American working in China, notes that he foolishly decided not to invest in Alibaba, a move he figures has cost him some $30 million. Clark also offers useful commentary, particularly about Alibaba repelling eBay’s incursion into China. From his not-quite-insider’s perch, he engagingly conveys Alibaba’s rise. getAbstract recommends the Alibaba story to investors and managers seeking insight into China’s economy.
About the Author
Mandarin speaker and former Morgan Stanley investment banker Duncan Clark founded an investment advisory firm in Beijing. He has lived and worked in China for more than 20 years.