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Debt: The secret sauce of Alibaba’s Singles Day success

The blood spilled on Singles Day (aka Double 11) by “hand-choppers”—Chinese slang for shopaholics—has long dried. But for many happy shoppers, especially millennials, now is the time to calculate their debts. The record-breaking figures from the top festival of consumerism owe much to the rise of easy consumer credit offered by China’s burgeoning fintech industry, […]