Summary of Can China and the Internet Save American Small Business?

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Can China and the Internet Save American Small Business? summary
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Years of food contamination and counterfeit product scandals have primed Chinese consumers to seek imported products. Today, they finally have the collective buying power to demand those products. But these consumers don’t want mass-produced goods; they want unique products with a story. That’s where America’s small businesses come in. getAbstract recommends Emily Parker’s insightful article to readers who want to understand why Alibaba’s Jack Ma is pushing for American small businesses to enter the massive Chinese market and who want to envision the benefits and challenges that will likely arise when they do.

In this summary, you will learn

  • Why Chinese business magnate Jack Ma is encouraging small US businesses to sell to Chinese consumers through Alibaba,
  • Which obstacles could limit American firms’ success, and
  • Why the Chinese middle class has an appetite for American consumer goods.
 

About the Author

Emily Parker is a former adviser for the US State Department. She writes about China for the The Wall Street Journal.

 

Summary

In June 2017, some 3,000 attendees descended upon Detroit to hear what Jack Ma, the legendary founder China’s largest online marketplace Alibaba, had to say to American small business owners. Martha Stewart was there, as was Charlie Rose, along with small business owners who’d already succeeded in the Chinese market. Veronica Pederson of Timeless Skin Care was among them. Her business brought in $5 million in revenue in 2016, with more than half that amount coming from China.

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