Can Jack Ma and Alibaba Transform the Chinese Economy?

Alibaba (BABA) - Get Report founder Jack Ma is an icon in China because he is helping change the country from a 'Made in China' model to a 'Bought in China' future, said Duncan Clark, author of Alibaba. 'Chinese middle class consumers are increasingly enjoying the fruits of economic development and they identify a lot of that with Jack Ma,' said Clark. Clark is a former Morgan Stanley (MS) - Get Report investment banker that has lived and worked in China for over 20 years. He worked as a consultant to Alibaba in the company's early years. He founded the investment advisory firm BDA China and has served as a visiting scholar at Stanford University where he co-founded the 'China 2.0' program. Duncan explains that Jack Ma was born into modest circumstances in Hangzou China. He became an English teacher as a result of his love of the language. A serendipitous trip to the United States gave him his first glimpse of the internet and its possibilities. His entrepreneurial spirit led him to found Alibaba in 1999.