China does e-commerce

I learned something today about China from Nischal at

http://internetsalsa.blogspot.com/2006/01/dangdang-e-commerce-in-china-part-1.html

What struck me is how similar the mindset of the Chinese is to that of Americans when e-commerce was just taking off.

Americans were skeptical of ordering and paying products sight unseen. But now look at us. Buy buy buy! And worry about paying later. But that's a different story.

According to Nischal, only  14% of Chinese have credit cards or the means to pay online. Perhaps only 14% of Americans should be allowed to have credit cards. Okay I digress again.

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