Alibaba Founder Optimistic About Future in the United States

Chinese e-commerce leader Alibaba has set its eyes on the US market.

Following Alibaba’s large IPO, the company has grown bigger than ever, with sales of $390 billion last year. Meanwhile, Alibaba believes that it can effectively compete with Amazon and eBay in the United States.

Alibaba Founder and Chairman Jack Ma spoke with the Economic Club of New York yesterday. He explained that he has great respect for Amazon and eBay and how they conduct their business, but Alibaba will use a different strategy in the US market. Rather than offering a platform for simple buying and selling of products online, Alibaba looks to help small and medium businesses establish themselves and sell their own goods.

In effect, Ma would like to help America’s small businesses sell their products in China, helping them reach the country’s rising middle class.

This may not occur immediately though, as Chinese companies still face some challenges working with the US government. However, Ma is optimistic that within the next 10 to 20 years, both Chinese and US companies will be able to do business with ease across their borders.

As China’s middle class continues to expand, there will be an excellent market for American products. It is only a matter of time before US Internet companies also experience success in China.