Also on this issue of Newsweek: “In some ways, China is an unlikely hotbed for e-commerce. Only 38 percent of online buyers pay with credit or debit cards, using instead an army of bicycle messengers delivering cash. There are no reliable credit ratings, or postal services, so some online auction customers still want to meet the seller in person. Yet none of this deters America’s e-commerce giants—Yahoo, Amazon and eBay. All are moving rapidly into China and the rest of Asia, driven by a rather startling fact of the digital age: the survivors of the Internet bubble in America are already mature businesses at home. ”
The full article is here.