Amazon and eBay have both proven that the internet can be a lucrative place to build a retail business; that Americans are happy to buy online when it saves them time and money. And, if you are a fan of online shopping, you might have noticed another site encroaching on the American online retail industry, coming out of nearly nowhere over the past several years.
That site is Alibaba; and while the name references a from a Persian folk tale, the web site is actually a Chinese online retailer that sells just about everything you can find at Amazon and eBay. In fact, Alibaba’s product catalog is far more extensive because you can not only buy from American outlets, but also outlets all over the world, and especially in China.
Well, Alibaba has grown immensely over the past few years—probably because you can find the same products as on eBay and Amazon, but at far more attractive prices—reporting upwards of $170 billion in sales in 2012, after just three years in business.
Yes, Alibaba is growing quickly and that is probably why US President-elect Donald Trump has chosen to talk with Alibaba executive director Jack Ma to work towards using the new e-commerce leader’s growth to add jobs in the United States. As such, the two sat down on Monday to discuss Ma’s plan to create roughly one million jobs in the US by increasing trade between US small business and Chinese consumers (probably through the C2C, B2B, and B2C site).
Commenting on the “great meeting,” Trump said that Ma is “a great entrepreneur, one of the best in the world.” Trump went on to say, “He loves this country and he also loves China. Jack and I are going to do some great things.”
Of course, this meeting comes at a time when China continues to share its concern over the growing tension from the incoming Trump administration. But Ma says,
“We also think that the China and USA relationship should be strengthened — should be more friendly,” Ma said. “The door is open for discussing the relationship and trade issues. I think the president-elect is very smart, he’s very open-minded to listen.”
Furthermore, ma has said, “We want to help U.S entrepreneurs, small business owners, and brands and companies of all sizes sell their goods to the growing Chinese consumer class. Chinese consumers will get to buy the American products they want. This, in turn, will help create American jobs and increase US exports.”