Jack Ma, the CEO of Alibaba Group Holding Ltd (NYSE:BABA) visited the United States this week to promote the participation of American businesses in his e-commerce firm.
His visit is part of the company’s expansion strategy outside China. Mr. Ma revealed that Alibaba wants to partner with American businesses and companies to bring their products to China. The strategy will allow the growing Chinese middle class to access products from America whenever they want.
Such partnerships are intended to promote U.S. exports while at the same time promoting the growth of these businesses and creating more employment. Additionally, doing business with the Americans will increase the company’s presence in the international scene. This in turn will allow Alibaba to gain a competitive edge against its rivals such as Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY).
During his visit, Mr. Ma met with many business leaders to discuss partnership prospects. He mentioned that currently there are more than 10 million businesses that operate under the umbrella of Alibaba. From those businesses, more than 10 million jobs were created.
The CEO also spoke about China’s big economy that has been experiencing phenomenal growth. Over the past 15 years, China has gone through rapid globalization leading to the creation of many opportunities. The people have not been shy about taking such opportunities and thus the reason the middle class has become more empowered.
The fast-growing e-commerce industry has been openly embraced by most people particularly the Chinese. Ma’s vision is for Americans to harness the huge demand for foreign products from China’s middle class. The infrastructure is already in place with Alibaba at the forefront.
Jack Ma’s pitch to the American businesses is highly influenced by the potential that he has seen in the performance of these businesses. He was equally impressed with the performance that American firms and businesses have put up.
Alibaba Group Holding Ltd (NYSE:BABA) hopes to capitalize on opportunities with American businesses to make the e-commerce firm a force to influence change in many economies. The mission begins with the company’s home country and with the help of the world largest economy.