Wide open. November 11, a day carved from the calendar by Alibaba to kickoff the largest shopping season of the year, has not just become the world’s biggest online commerce event of the year but now tops the business done on both Black Friday and Cyber Monday in the United States.
The November 11 shopping frenzy is a reminder of the astonishing progress of huge chunks of China’s technology industry. In one generation many segments of China’s technology industry have achieved what took a century in Silicon Valley.
Western xenophobes will protest that this is due to the Chinese theft of intellectual property and protective regulation – an attitude sadly captured by Vice President Biden in a recent speech when he said to his audience, “I challenge you, name me one innovative project, one innovative change, one innovative product that has come out of China.” If the Vice President had spent more time in China he would realize the country teems with creative entrepreneurs and can also justly lay claim to housing not one, but four, Silicon Valleys.
