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Alibaba's emptying cave shows a scramble for growth

Wednesday, June 1, 2016 - 05:50
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Alibaba has shelled out US$24 billion for acquisitions since its initial public offering in 2014

Sydney

WHEN the Persian woodcutter Ali Baba found a cave full of treasure hidden in the forest, he didn't spend it all at once. He took home just enough to live on comfortably, and passed on the secret to his children, and his children's children, and his children's children's children.