August 24, 2017
As a FinTech and startup aficionado, we already know the three Chinese giants, most commonly referred to as BAT: Baidu, Alibaba, and Tencent. All of us have read about the success story of Robin Li of Baidu, Jack Ma of Alibaba, and Ma Huateng of Tencent. But only a few of us are aware that they reached this level of success because of other macro-economic and political factors, which paved the way for them to scale rapidly. Moreover, the People’s Republic of China (PRC) had its special role in the growth of these companies.
China/US Foreign Exchange Rate. Source: FT Alphaville
Between 1978 and 1992, China devalued its curr ...