Alibaba Single's Day kickoff upstaged by Trump

The online shopping extravaganza known as Singles’ Day was upstaged Thursday by US President-elect Donald Trump. According to The Wall Street Journal, a reporter asked Executive Vice Chairman Joe Tsai what he thought might be the impact of the Trump presidency on Alibaba. “China is going to be and already is the source of consumer demand and the source of capital for America,” Mr. Tsai said. “So if you’re the American president, you have to pay a lot of attention to that because your job is to create a lot of jobs in American society. And if you don’t have Chinese consumers being engaged and buying American products, and Chinese investors can’t invest in the United States, and create more American jobs, then you’d be in trouble.”