Jack Ma talks about globalization , trade and ease of doing business in China

Jack Ma (Ma Yun , Age 53) is Chinese business magnate, philanthropist, internet and technology entrepreneur, who is the founder and executive chairman of Alibaba Group.  His Net Worth is $37.9 billion .  Jack Ma talks about globalization , trade and ease of doing business in China at Fortune Global Forum in Guangzhou (China) ,2017.

Alibaba is going to invest $15 billion in technology . This investment will help us to make lab like Bell lab and will empower other people, traditionally tech company will use investment to empower themselves.

AI will not be threat to humanity , I am optimistic about future.

China has seen tremendous growth in recent years due to stability of political system. In next 10 years China will have 500 million middle class people. China has 150 million people holding qualified degree which is half of population in U.S. China is country still talks about globalization , open door policy & encouraging enterpreneaurship.

When trade stops , war starts. Every country must benefit from globalization.

Amazon is an ecommerce company but Alibaba is not ecommerce company. Alibaba enable other people to do ecommerce.

No internet company can survive after 5 years if it they cannot reinvent themselves like Yahoo and Netscape. Alibaba has transform themselves 80 times in last 18 years.

In next 20 years , Alibaba’s GMV (Gross merchandise volume) will reach to be one of top 5 economies in world.

To do business in China is as difficult as doing it other countries. 3 rules to do business in countries ,
1. Respect culture,market and consumers
2. Should have strong leadership, leaders have to make customers happy not boss happy.
3. Have patience

Image source : cnbc

Cheers,

RVD