FIRST AIRED: July 23, 2019

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
we're getting increased daily from countries like India Germany Poland Ali Baba announced Tuesday it will allow American small and mid sized businesses to start selling their wares on the Chinese companies mass of global ecommerce platform which will allow US businesses to connect with corporate customers around the world until now American companies were only able to buy but not sell on Alibaba this is far from a charitable move Ali Baba is looking to get a bigger piece of the twenty three point nine trillion dollar global market place for business to business transactions at a time when tensions between Beijing and Washington on making it hard for Chinese companies to do business at the same time Ali Baba is facing increasing competition from another online giant Amazon but Ali Baba is quick to point out to Reuters retail reporter Melissa Faris that it sees itself as a tech company not at a retailer like Amazon while they sort of provide this platform for a third party sellers to come on in and sell their own merchandise Amazon is also a rival to those third party sellers because they you know collect the data %HESITATION you know see what performs well and you know they're really ramping up their private label business so it's their competitors %HESITATION with Allie Bob on the other hand %HESITATION Alibaba does not sell inventory so %HESITATION they're sort of pitch is that comes on our site you know you have access to all of your own data and we're not your competitor were your ally according to Ali Baba US businesses will have access to ten million active buyers in nearly two hundred countries but that comes with a price Ali Baba is charging a two thousand dollar membership fee to set up shop and that doesn't include marketing or advertising Amazon charges a fee per month or per item another day , Ali Baba is expanding on Amazon's home turf while Amazon is retreating in China it pulled the plug on its Chinese platform after failing to eat into the dominance of JD dot com and Ali Baba's team all