Warren Buffett gives leeks in India www.deekpay.com

## India: "Masters" of cutting leeks? "India earn money India spend, a respectively want to take home." This sentence has long been deeply rooted in people's hearts, now, even Warren Buffett has become a "cut leek" object. Recently, Berkshire Hathaway liquidated its shares in India's "Alipay" Paytm, a loss of 31% per share. This is not an isolated case. Previously, millet, OPPO, vivo and other Chinese companies, as well as Walmart, Google, Amazon, Microsoft, Apple and other international giants, have encountered tax "difficult" in India. Then, why India can be so "unscrupulous" to "cut leeks"? One of the reasons is that India's electronic payment market competition is fierce, has not yet formed a monopoly pattern. With domestic Alipay, WeChat Pay a dominant situation is different, India's third-party payment platforms, including PhonePe, Paytm and so on. Due to the fierce competition in the market, all of them are burning money to seize the market, resulting in limited profitability. The second reason is that the Indian government's supervision of the Internet industry is insufficient and lacks perfect laws and regulations. Like China's Internet environment 20 years ago, India's Internet development also experienced a stage of savage growth. However, the lack of regulation in India has given enterprises the opportunity to "fish in troubled waters" and "cut leeks" to provide space. It is worth noting that India's policy is not aimed at Chinese companies, but all foreign-funded enterprises are treated equally. This also warns the Chinese enterprises, in expanding overseas markets, must do a good job of risk prevention and control, to avoid becoming a "cut leek" object. In addition to India's "cut leek" phenomenon, there are the following recent hotspots worthy of attention. Chinese stocks have risen recently, but the impact on the domestic A-share market is relatively small. Changan Automobile and Huawei cooperation to set up intelligent driving company, the market reaction is positive. China's trial to expand the scope of unilateral visa-free countries, favourable to outbound tourism. Chinese-funded cross-border e-commerce platforms are on the rise, helping Chinese manufacturers to go overseas. All in all, against the backdrop of a changing global economic landscape, Chinese companies need to be more cautious in expanding overseas, while also seizing the opportunity to actively participate in global competition.