$PDD Holdings Inc(PDD)$ The bu

The business of Pinduoduo (PDD) is not easy, and the competition is intense. Why is the e-commerce market in China a landscape of competition among several dominant players? And why is the e-commerce market in the United States dominated by a single major company? This is a very interesting question. The answer is definitely not that Chinese people are overly competitive while Americans are not. Only by figuring out this question can we have a better understanding of Pinduoduo and other e-commerce companies. The Chinese market is vastly different from the American market. We must never linearly extrapolate the rise of Pinduoduo in the Chinese market to the American market. Even in the Chinese market, the logic is different from what it was two years ago or ten years ago.

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