Reported about 2 months ago
Walmart has decided to divest all shares to terminate its eight-year partnership with JD.com, highlighting the changing dynamics of China's e-commerce market. KraneShares CIO Brendan Ahern discusses how post-COVID-19 domestic consumption issues and declining real estate prices have impacted key players like JD, Alibaba, and Pinduoduo. Ahern notes that Walmart's exit signifies its strong independent presence in China, describing their past partnership with JD as a 'frenemy relationship.'
Source: YAHOO