Chinese Dotcom Bubble?
From ChinaTechNews: Dotcom Boom, Version 2.0
"But when it comes to dotcom dementia, it's deja vu all over again. Yahoo agreed to purchase a 40 percent stake in Hangzhou-based e-commerce player Alibaba for US$1 billion, and inject its China unit into the deal. The Grouch wonders: what else were the Yahoo people injecting when they came up with these figures? One. Billion. Dollars. US dollars."
"The Yahoo/Alibaba deal represents unfounded exuberance. It's not based on revenue. It's not based on the future. Runaway economic growth in China, like Dotcom Boom Part One, and the 17th century Dutch tulip mania, will not last forever. It probably won't last until the end of the decade. Once the Olympics are over, all bets are off. No chance that Beijing will let a little civil unrest or an economic downturn spoil the 2008 party, but after that, it's possible that the chips will be allowed to fall where they may."
"Missed the first Internet boom? Welcome back, 'cuz here we go again. We still have the Alibaba IPO to look forward to."
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