In China, Trump Masked His Trade Complaints With Chinese Compliments
Compared to his campaign rhetoric, President Donald Trump took a much softer approach with China.
LEARN MOREThink Black Friday Is A Big Deal? You Haven't Seen China's Version
Nov. 11 started out in China as a day to celebrate being single, but now it's become the biggest shopping holiday on the planet.
Think Black Friday Is A Big Deal? You Haven't Seen China's Version
Alibaba
November 12, 2017
Thought Black Friday was the shopping holiday of the year? China has its own version, and sales dwarf Black Friday's and Cyber Monday's combined.
It's officially called the 11.11 Global Shopping Festival. But it's also known as Singles Day because in China, Nov. 11 has informally become a day when bachelors celebrated their bachelorhood.
Chinese e-commerce giant Alibaba turned the non-commercial holiday into a shopping extravaganza in 2009 when it started offering Singles Day deals.
This year, shoppers spent a record $25.3 billion. For context, Black Friday and Cyber Monday's sales last year combined came in at just under $7 billion.
That gap may only widen in the future. Forbes notes five years from now, China's expected to have 210 million more people just in its middle class than the U.S. will have in the entire country.
Some analysts note China's middle class has adopted a "keeping up with the Joneses" approach to shopping. But while the U.S. can look back at a long history of consumerism, Singles Day points to a relatively new trend in China.
Philippine ferry fire kills 31 people; at least 7 missing
Many of the 200 people who survived jumped off the ferry and were rescued from the dark sea by the coast guard, navy and local fishermen.
9:00
Should we be nervous about North Korea's nuclear weapon tests?
Experts share whether there's a current threat from North Korea, as it has been publicly attempting to expand its nuclear weapons arsenal.
Pakistani police storm home of former PM Khan, arrest 61
Police broke open the door of Khan's residence and found automatic weapons, Molotov cocktails, iron rods and batons used in attacks on cops that week.
Top Stories
Endangered North Atlantic right whale still entangled in Cape Cod Bay
The North Atlantic right whale is one of the most endangered large whale species in the world, with only about 350 remaining in existence.
0:30
Sen. Fetterman discharged from Walter Reed after depression treatment
The 53-year-old is still recovering from the aftereffects of the stroke he suffered last May.
3:58
Student calls for gun control, says school shootings are an 'epidemic'
Hundreds of protesters gathered Saturday to plead for gun control.
