President-elect Donald Trump met with Alibaba’s founder Jack Ma earlier this week to discuss plans to create one million US jobs by allowing American businesses sell to China through the company’s online platform.
That’s a huge number but it’s not an entirely far-fetched dream, if you look at the market potential. As seen in this chart by Statista, China’s retail e-commerce sales is growing at a mind-boggling pace: It’s forecast to become worth $840 billion by 2021, almost double the estimated size of the US e-commerce sales in the same period ($485 billion).
Add that to the fact that China has a massive 300 million-plus middle-class population and a growing appetite for foreign products (cross-border sales in China is expected to surpass $150 billion by 2020), and Trump-Alibaba’s one million job creation goal starts to sound plausible.
NOW WATCH: ‘We watched our kids cry on Christmas’: Parents are furious after disaster with the holidays’ hottest toy
Business Insider Emails & Alerts
Site highlights each day to your inbox.