US private equity TPG’s co-founder David Bonderman said Chinese tech start-ups have an advantage due to the country’s huge consumer market and governments should stay out of the way of his US start-up Uber.
His comments come in the wake of Alibaba’s $25 billion IPO, the world’s largest ever.
“It is a very very large market, you could not do in the West what Alibaba has done here. It’s just not possible there is too much infrastructure,” said Bonderman at the SuperReturn private equity conference held in Hong Kong.
“China is second only to the US in...
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