A Quote by Zhang Jindong
We don't believe the market can be dominated by one company in e-commerce in China - namely Alibaba. The Chinese market is very wide and deep, with a huge population.
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With a population of 1.4 billion, China is a lucrative market. But getting into that market isn't cheap. At best, the price of doing business in China is silence; at worst, it's reading talking points straight from the Chinese Communist Party. Beijing is not subtle about it.
There's a huge interest in the Chinese market, and Hollywood has a huge interest in the Chinese market with films like 'Transformers' making more money over there than here.
You cannot just depend on the market, because the market will say: China needs oil; China needs coal; China needs whatever, and Africa has got all these things in abundance. And we go there and get them, and the more we develop the Chinese economy, the larger the manufacturing is, the more we need global markets - sell it to the Africans which indeed might very well destroy whatever infant industries are trying to develop on the continent. That is what the market would do.
People tend to wonder when Alibaba will enter the U.S. market. But those people are asking the wrong question. Alibaba reckons that, in 2010, China and the U.S. had an equal number of online shoppers, about 140 million.
The Chinese market is very different. One of the things that I believe is that the biggest, hottest tech trend in China right now is O2O, or online-to-offline.
I think China thinks information technology is less important than we think it is in the US, economically, and more important politically. And so Chinese internet companies are extremely political, they're protected behind the great firewall of China, and investment in Alibaba is good as long as Jack Ma stays in the good graces of the Chinese communist party. Alibaba is largely copying various business models from the US; they have combined some things in interesting new ways, but I think it's fundamentally a business that works because of the political protection you get in China.
When you discuss your steel industry with China you are credible because you are part of the E.U., not because you are just U.K. You will be completely killed otherwise. You will never be in the situation to negotiate face to face with the Chinese because your domestic market is not relevant for the Chinese in comparison with their domestic market.
The Chinese government still would like to see U.S. Internet companies explore the Chinese market, providing they are willing to abide by Chinese law. I think companies like Facebook should think about the Chinese market.
There are a lot of Chinese-American designers and Chinese designers who have had an impact a little bit on the American market, but I think it's going to be interesting to watch if, over time, somebody can emerge from China who is based in China, and whether they come and show in Paris, like Rei Kawakubo or Yohji Yamamoto did.
As a condition for entry into the Chinese market, Apple had to agree to the Chinese government's censorship criteria in vetting the content of all iPhone apps available for download on devices sold in mainland China.
It should be said that we are presently, and I believe unfairly, constrained from directly promoting cigarettes to the youth market...Realistically, if our Company is to survive and prosper, over the long term, we must get our share of the youth market. In my opinion, this will require new brands tailored to the youth market.
As China's retailing champion, Alibaba makes Amazon look like a company that carefully picks its spots. Sure, Amazon does e-tailing. So does Alibaba.
Whatever market for manufactured goods emerged in colonial and dependent countries did not become the "eternal market" of these countries. Thrown wide open by colonization and by unequal treaties, it became an appendage of the "internal market" of Western capitalism.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. In China, you can have hundreds of competitors within the first hours of going live. Ideas are not important in China - execution is.
Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.
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