According to Professor Qing Wang : “Alibaba’s IPO could well be the end of US dominance in the world technology sector. Alibaba’s annual growth rate of more than 30 per cent shows that the gap between the Chinese companies, Alibaba and Tencent, and US companies is getting ever closer.
In fact, with Alibaba’s imminent listing, the Chinese internet companies are already sharing the top four spots with the US. These are in descending order: Google, Alibaba, Tencent and Amazon.
The strong performance and fast rise of the Chinese technology companies in the world may shock some outsiders. It is certainly helped by an enormous and fast growing domestic market, but there is more: the competition in that domestic market among the Chinese companies, as well as with multinational corporations that have entered it, is extremely fierce and successful private companies like Alibaba have to be highly entrepreneurial and market-oriented.
Alibaba continue to innovate in many areas of their business to keep existing customers happy and attract new customers. This ability to understand customers intimately and continuously innovate should enable them to expand overseas with US dominance in the world technology sector gradually being broken.”
