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Chinese e-commerce giant Alibaba filed in the US for its IPO this week. Analysts estimate Jack Ma's company could be valued at around $150 billion, in what could be the largest tech debut to date.
Alibaba controls 80% of China's e-commerce market. Last year, it sold $248 billion in goods, from food to Nikes to used jetliners. Alipay, Paypal's evil twin, was used in payments worth $519 billion.
Question is, why is Jack Ma listing in the US when Alibaba does all its business in China? Clearly Ma wants to get his money out of China like all good corrupt CCP officials.
Surrounded by his army of public relations lawyers, Ma has created a positive image for himself. But will the CCP continue letting Ma dominate a market they run, especially when Wall Street will be the one getting rich?
If Alibaba does venture out of China, how will it handle itself in a truly free market? What if the CCP decides to turn the faucet off for Ma? Could this end up being an Alibubble?
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