[ April 24, 2024 ]
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Alibaba CEO Jack Ma lavishes praise on Israel
Alibaba is China’s biggest online commerce company. Its IPO is the biggest in history.
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How big a market is China? Well, Alibaba – through its various sites – hosted $248 billion of online shopping transactions last year, which is, according to the Wall Street Journal, more than eBay and Amazon.com combined. The Journal cites data from a group called iResearch projecting that China’s e-commerce market has gone from $74 billion in 2010 to $295 billion by the end of 2013, with a projected total of $713 billion by 2017. The Hong Kong broker CLSA says that 80% of China’s online shopping is done through Alibaba. (Forbes)
Alibaba to set up R&D center in Israel
Chinese e-commerce juggernaut Alibaba to build research and development center in Israel; move similar to those of Amazon, Ebay, Paypal, Google and Microsoft, all of whom have branched out to Israel; overall, Alibaba to invest $ 15M in 8 centers all over the world, focusing on AI, quantum computing and fintech.
China’s top e-commerce firm, Alibaba Group Holding Ltd, is launching a $15 billion drive to build overseas research hubs as the deep-pocketed firm looks to compete with global leaders in e-commerce, logistics and cloud technology, including one in Israel. Additional R&D centers are to be built in China, the US, Russia and Singapore. This according to a statement by the company on Wednesday.
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9 Comments5 years agoThe Chinese are in the market to do business and make a profit. American and western europeans should know that.
5 years agoReply to Mahou ShoujoThey have enough financial leverage on the world scene to significantly influence money matters almost everywhere.
5 years agoReply to Mark SteinerThey got that money by any number of methods, let the games begin…
5 years agoReply to Mahou ShoujoYes, they have strong trade ties with Israel as well. However, I do not think they are worthy of trust either. For one thing, the Bank of China was found guilty of transferring money to Hamas several years ago:
https://www.jpost.com/Israel-News/Politics-And-Diplomacy/Exclusive-Historic-case-against-Bank-of-China-for-millions-in-terror-financing-dismissed-432381
https://en.wikipedia.org/wiki/Bank_of_China#Alleged_money_transfers_to_Hamas5 years agoWalmart is already a serious threat to Amazon. Add Ali Baba and the 7 Thieves and there would be some real price competition.
5 years agoI wonder if Ma owes most of his success to connections in the Politburo (or whatever the equivalent is in the PRC)? I wonder if he runs sweat shops?
5 years agoA strange looking
boyman.Better watch out Israel. My mom use to say, if you flip a China man and a Jew in the air, the China man will have his hand in the Jew’s pocket. 😉
5 years agoYou mean they are not opening their center in Iraq, Afghanistan, or some other muslim hellhole? Gee, I wonder why? (Rhetorical)
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