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EBAY未能在中国市场经受住“第28次考验”,即将上演和雅虎在中国一样的遭遇,这也再次证明了互联网国界的真实存在.“,”Having conquered 27 markets around the world, eBay President and CEO Meg Whitman claimed that “we will go on to apply our policies in China. our 28th market” three years ago. Since earlier this year. there have been rumors about eBay's merger and acquisition with local giants. This September, the rumor that TOM. com would acquire eBay China was spreading widely. Meanwhile, the resignation of the CEO of eBay China, Wu Shixiong, signaled a substantial acquisition is around the corner. Although the final result will not be revealed until December, according to some insiders. this M&A is no rumor. In fact. since last year, the TOM Group has begun its negotiations with eBay's headquarters in the US, hut eBay China seemed to have no idea about it. As the M&A is accelerated by both parties, it's believed that a joint venture will be established, with TOM. com responsible for the operation. The mode probably resembles that between Yahoo China and Alibaba.com: the transnational corporation abandons its independent operation by resorting to local enterprise. and gains its share of profits via stock ownership and brand. Hence, investment can be dramatically decreased and. without having to withdraw completely from the Chi nese market, it can offer better accounts to the capital market. Obviously. eBay cannot survive the “28th test” in China. This, again, proves national borders do exist in the virtual world.