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Alarm bells ring for Alibaba.com Thursday, 24th November 2011
China’s largest e-commerce firm this week posted an 11.9 per cent rise in quarterly net profit, the slowest reported growth in nearly two years.
Concerns over the company’s future this week came to a head amidst a low trade outlook thanks to debt woes in Europe and the United States.
Alibaba.com's exposure to international markets makes its turnover particularly sensitive to the performance of the world's major economies such as the United States and Europe.
"The third quarter of 2011 presented a picture filled with challenges arising from the weaknesses in the U.S. economy and the debt troubles in the euro zone, which have threatened to spin out of control," Alibaba.com said in a statement.
"We are more cautious about the global economic outlook and believe that it may have a prolonged impact on China's export sector," the group said.