Alibaba to Transform Chinese Economy and Perhaps Spur Competitors (Reuters)
Internet retailer, Alibaba Group, is looking to drag the Chinese economy into the 21st century whether it wants to come along or not. The company’s likely to make as much as $15 billion in an initial public offering (IPO), and when it does, it’ll pump that money into China’s “fragile supply chains and big data centers…” according to Paul Carsten of Reuters. However, the Asian Internet giant may also be planting the seeds for its own demise, as online upgrades will also encourage competitors to become more Internet reliant. Is this a long-term altruistic move for Alibaba, or a short-term cash grab? Investors will have to decide.
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