Alibaba plunges $20 billion over US-China chip war
Friday, 17 November 2023 Alibaba Group Holding Ltd. has reversed its plans to spin off and list its $11 billion cloud business due to the escalating fight between the US and China for technological dominance. The company cited the US's increasing restrictions on chip sales to China as a reason for the strategy reset. The decision has caused Alibaba's shares to slide 9.1% in New York trading. The company is also facing challenges from the Covid-19 pandemic, a tech industry crackdown in China, and competition from other platforms such as PDD Holdings Inc. and ByteDance Ltd's Douyin.
Walmart Shifts US Import Focus , From China to India .
NBC reports that Walmart has begun importing
more goods to the United States from India
as it reduces its reliance on China. .
According to..
Credit: Wibbitz Top Stories Duration: 01:31Published
Friday, 17 November 2023
![Walmart Shifts US Import Focus From China to India [Video]](https://video.newsserve.net/300/v/20231129/1361357179-Walmart-Shifts-US-Import-Focus-From-China-to.jpg)
