Alibaba's Jack Ma warns of 'big trade war' between China, US
PTI E-commerce giant Alibaba's founder Jack Ma has warned of a "big trade war" between China and the US under the new Trump Presidency if conflicts were not dealt properly. He said China's economic outlook will be "tougher than expected" due to continued slowdown of Chinese economy and warned. "In the coming three to five years... the economic situation will be even more arduous than everyone had expected," the e-commerce billionaire said at an annual meeting of the General Association of Zhejiang Entrepreneurs. Referring to the slowdown of the Chinese economy to 6.7% last year, the slowest in over two decades, he said it was "only natural" that China's rapid growth over the past three decades could not continue, and that ...
Jack Mas unit blacklisted by USTR
The Dollar Business Bureau The Chinese e-commerce giant Alibaba which has spread its tentacles to nearly 190 countries in the world has once again faced ignominy in the US. Analysts believe the recent tepid relations between US and China could be one of the reasons for United States Trade Representative (USTR) to place one of the company’s online platform arm Taobao on the blacklist. Four years ago Alibaba was blacklisted by US and since then had taken care to ensure that its profile remained clean. Though being blacklisted does not carry any penalties other than a blow to its integrity that the company has been carefully cultivating for years. A spokesman for USTR said Alibaba’s Taobao has been suspected of selling fake goods ...
Alibaba once again eyes India for its further expansion plan
Deepak Kumar | The Dollar Business China’s e-commerce giant Alibaba on Monday once again sought approval from the Indian government to launch its e-commerce and retail operations in the Indian market. On Friday, Alibaba Group President Michael Evans and Global Managing Director K G Gowrappan held a meeting with the Indian Communications and Information Technology Minister Ravi Shankar Prasad to express the company’s interest. The China-based company intends to launch its operation in India by this year end. Prasad, in turn, assured Alibaba’s top officials that the Indian government would extend its support in the company’s global expansion plan. "We will give them (Alibaba) full cooperation,” Prasad had said after the talks. Alibaba’s founder Jack Ma has visited India several times since ...
Chinese e-commerce giant to promote Indian SME products
Sai Nikesh | The Dollar Business The Chinese e-commerce giant Alibaba on March 30, 2015, announced its future business plans in India. As part of his visit to India, Alibaba's Chairman Jack Ma met the Prime Minister of India, Narendra Modi, and expressed the Company’s willingness to empower small businesses in India and also discussed the modalities involved. In his meeting with the Prime Minister, Ma discussed way and means of implementing the Business-Business (B2B) model in promoting organic farm goods, handicrafts and other products from a rural to the global level. Pointing out to the Business-Company (B2C) model as an American model, the Alibaba founder was learnt to have stated that the ‘Business-Business (B2B) model is best suitable ...
India signs agreements with China to reduce trade deficit
Sachin Manawaria | @TheDollarBiz India has signed MoU (Memorandum of Understandings (MoUs) worth over $2.46 billion with China at a conference jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and China’s Zhejiang Federation of Industry and Commerce. The MoUs include a $1.5 billion deal between Kunlun Chuangyuan Investment Co Ltd and Kiri Infrastructure Pvt Ltd for the India International Trade Centre in Gujarat project and a $500 million Solar project Co-investment between SunEdison Energy India Pvt Ltd and CHINT Solar (Zhejiang) Co Ltd. Source - Ministry of Commerce, India Amitabh Kant, Secretary (DIPP), India’s Ministry of Commerce and Industry, said, “There is a need for the dynamic entrepreneurs of India and China to collaborate and deepen the business ...
