The Rising Influence of Rising Affluence

[DewDiligence]

Mind-boggling stats re online shopping in China:

http://www.nytimes.com/2013/11/12/business/international/online-shopping-marathon-zooms-off-the-blocks-in-china.html

On Monday, China’s biggest online shopping company processed more than $5.75 billion [!] in its online payments system—a record for a single day anywhere in the world, surpassing by two and a half times the total for American retailers last year on so-called Cyber Monday.

…Alibaba reported Monday that it had 402 million unique visitors to its sites — more than a third of the adult population in China — and prepared 152 million parcels for shipping.