Alibaba's Jack Ma questions benefits of trade war
HANGZHOU, China, and Singapore – Jack Ma, executive chairman of Alibaba Group, fails to see the benefit of a trade war between China and the U.S., according to his op-ed piece sent to Furniture Today.
Alibaba, by several measures the world’s largest e-commerce company, pursues what Ma calls a new retail strategy, which is “to provide a seamless online and offline consumer experience in the local services sector.”
Alibaba's businesses include Tmall, Taobao and Alibaba.com. Since January, Alibaba has acquired Ele.me, a leading online delivery and local services platform in China; increased to 83% its ownership of Lazada Group, the largest e-commerce platform operating in Southeast Asia; and invested in Beijing Easyhome Furnishing Chain Store Group.
From unstaffed stores to drone delivery, Alibaba is pursuing the seamless global connection of every company with any customer, including B2B.
When it announced in 2015 the hiring of Goldman Sachs banker Michael Evans as its president, Alibaba’s press release stated that globalization is its primary goal: It wants 10 million businesses and 2 billion consumers worldwide doing business on their platforms.
For the nine months ended Dec. 31, 2017, Alibaba reported revenues of $28.9 billion, net income of $8.4 billion and diluted earnings per share of $3.33.