Is China scary? Better not to think about it, and pretend nothing happened. The advice is given by one of the most well-known entrepreneurs of the Asian country that worries the markets so much these days: Daniel Zhang, director of the e-commerce group Alibaba, who according to reports from the Financial Times told his employees to "forget the share price” and concentrate on their work. All while – but don't tell the employees – Alibaba dropped below $68 per share of the IPO for the first time.
The FT also points out that tech stocks have been among the hardest hit by the market turmoil in China, but while American companies like Apple have seen their share prices gradually recover, Alibaba is continuing to suffer.
