Daniel Zhang, CEO of Alibaba Group speaks after Alibaba's 11.11 Global Shopping Festival also known as Singles Day sets a new record of RMB213.5 billion or more than US$30 billion in Shanghai, China, Monday, Nov. 12, 2018. The spending binge has for years eclipsed Cyber Monday in the U.S. for online purchases made on a single day. This year's tally breaks from gloomy forecasts about the world's second-largest economy, which is struggling with a tariff war with the U.S., a stock market slump and slowing overall growth. (AP Photo/Ng Han Guan)