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Alibaba.com CEO: Foreign Orders Will Plunge In 2009 H2
Foreign trade orders will become extremely lean in the second half of 2009, reports Nanfang Daily quoting e-commerce company Alibaba.com Ltd (1688.HK) CEO David Wei. Wei predicted that the factors that are hurting profits of small- and medium-sized enterprises will disappear within the next 12 months.
Alibaba saw the largest increases in export orders from South America, North America and Europe in the last three quarters; countries with the largest order increases were Brazil, France and Canada, said the report.
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