The 2018 World Economic Forum Annual Meeting was an event that people all over the world were eagerly waiting for, especially with the impressive line up of entrepreneurs and business people who were set to share their thoughts on this platform. One of the people invited to this forum was Richard Liu, the founder of JD.com. At the forum, Richard Liu used the platform to inspire others who were looking to get into the world of e-commerce. As someone who has been a major part of this medium, he stated the importance of e-commerce and the potential growth that it will be seeing over the next few years.
In this interview, he spoke about the changing global standings and the impact that different developments were having across sectors. He emphasized the growth of this industry and the need for economic prosperity in this matter. He also stated how changing political scenarios across the world are having an impact on global economies and industries that are looking to set up. Richard Liu, also known as Lui Liu Qiangdong is someone who has had an inspiring story that led him to the prominent position that he is in. When in university, Richard Liu decided to teach himself to code, even though it was not something related to the subject of sociology, which was what he chooses as his major.
After working with notable companies after college, he decided to start up his own business. Back then, the Chinese market was filled with stores offering fakes of products that were in demand. Richard Liu decided that he would set up a store that sold only genuine products, and nothing else. The SARS Epidemic of 2004 was what caused Richard Liu to change his business model. During this time, he and his employees had to work from home, thereby giving him the idea for an e-commerce platform that would do what his store was already doing. Within a short span of time, Richard Liu was up building JD.com, which stands as one of the most notable names within the Chinese e-commerce industry.