Three take-homes from Jack Ma’s G20 statement

Ahead of this year's G20 Summit in Hangzhou, China, a number of e-commerce companies have lambasted the growing anti-globalisation trend, and Alibaba’s Jack Ma has led the call for a friendlier global attitude towards ecommerce.
 

Business Review Australia & Asia explores three take home points that Ma and other e-commerce players are looking for

1. Establish an e-World Trade Platform
 

Like the World Trade Organization, the e-version of this would focus on removing trade tariffs and downplaying protectionism with a goal of enabling small business from across the world to freely operate using an online platform.

2. Self-regulation
 

"Organisation is like a treaty or an agreement agreed by the government, so rules and laws,” Ma said, “For a platform, we should set up another very feasible way for small business to do it."

Eschewing the need for government intervention, Ma’s recommendation could be interpreted as a move toward the e-commerce industry regulating itself – less government, more business platform.

3. Make globalisation work for everyone
 

Ma said: "People don't like globalization, not because globalization is bad. If globalization can really benefit everybody, enable every individual, enable small business that would be a great stuff.”

His words echo a broader sentiment among many Chinese e-commerce players who are growing worried about the growing anti-globalisation sentiment around the world.
 

Ning Gaoning at Sinochem Group, a Chinese energy and chemicals conglomerate, said: "We need to reduce all these protectionism measures, rolling back the old ones, and reducing all these kinds of small, regional trading agreement, which turn out to be complicated."

Read the August issue of Business Review Australia & Asia.

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SOURCE: [China Daily]