Alibaba Group

U.S. apps take more cues from China

Data: Yahoo Finance and Chinese Internet Report from South China Morning Post; Chart: Axios Visuals

A slew of Chinese-inspired smartphone apps and products are flourishing in the U.S., adding new Chinese influences to American culture and business just as the trade conflict between the two countries intensifies.

Why it matters: U.S. tech giants that once inspired Chinese products in the era of PCs and the web are now borrowing moves from East Asian counterparts, mimicking their smartphone apps and innovations, as a recent in-depth China Internet Report by the South China Morning Post documents.

Chinese billionaire to complete Brooklyn Nets purchase for $2.35B

Joseph Tsai, the billionaire co-founder of Chinese e-commerce giant Alibaba
Joseph Tsai. Photo: studioEAST/Getty Images

Joseph Tsai, the billionaire co-founder of Chinese e-commerce giant Alibaba, is nearing a deal to purchase the remainder (51%) of the Brooklyn Nets that he does not already own from Russian billionaire Mikhail Prokhorov, New York Post reports.

Why it matters: The $2.35 billion purchase will be the highest price ever paid for a sports franchise, surpassing the $2.2 billion each paid by David Tepper for the Carolina Panthers last year and Tilman Fertitta for the Houston Rockets in 2017.