Sales bonanza will not boost economy

The online shopping sale on Nov 11 has been put in the spotlight with analysts keen to find solid evidence of improving consumer demand that might bolster the slowing economy.

Unfortunately, the prospering e-commerce industry can hardly solve the problems facing the economy on its own.

China's e-commerce giant Alibaba Group Ltd launched the online Singles' Day sale in 2009. Since then, the date, made up of four lonely "ones", has become the world's biggest online shopping event.