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Alibaba prefers Africa over Europe, as the latter is “too anxious” about data and privacy protections, the company’s founder Jack Ma Wednesday at the World Economic Forum in Davos. Ma is one of China’s richest men, and Alibaba one of its most valuable companies.

Much of the firm’s core business — e-commerce and digital payments — involves exploitation of user data, so its unsurprising Ma fancies such concerns as minor compared to the benefits companies can deliver to customers who surrender their information. “Unless you truly understand technology, [excessive supervision of companies] will make everything very hard,” Ma added. Last year the EU implemented sweeping data-protection regulations that stipulate fines of up to $23 million for privacy violations. Thus, Alibaba is less interested in Europe, Ma said, as Africa “believes in technology.” Ma also said that within three to five years, 500 African entrepreneurs will receive Alibaba-backed training in China. Related: Support independent journalism from China.

They are confident, carefree and spend over $7,000 a year on luxury goods - even before they turn 21. Meet China’s Generation Z. Spoiled by parents and grandparents for being the only child in their families, these youngsters are living it up compared to their cautious, conservative peers in the West, according to a new survey.

They are pumped up about the future and not worried about their career prospects or international politics, notwithstanding a trade war at their doorsteps. A study by research firm OC&C Strategy Consultants, reveals marked differences in attitude and lifestyle among young Chinese adults. The findings also help explain why the largest luxury brands are so dependent on continued splurging in Asia’s biggest economy. “This is a generation that has never known worry, so they spend more and save less,” said Adam Xu, a partner at OC&C based in Shanghai.

“We don’t know if they’ll grow up to be successful but we do know that they are already a significant spending force that consumer brands must pivot towards.” China’s Generation Z landed in an unusually sweet spot. Products of the country’s and its astronomic economic growth in the 1990s and 2000s, these children didn’t have to share while growing up and saw only an ever-rising wealth creation. By contrast, their peers in the U.S. Resident evil umbrella chronicles iso.

And Europe witnessed the 2008 financial crisis and its brutal aftermath, are graduating with historically high student debt, may not earn enough to afford a roof over their heads and are seemingly more politically conscious than in the past. The survey questioned 15,500 people born in 1998 and after, across nine countries including Brazil, France, Germany, Italy, Poland, Turkey, U.K. Almost 2,000 youngsters were from China. Chinese Generation Z accounts for 15% of their household’s spending in the survey compared with 4% in the U.S.

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