Under the pressure of the overall downturn of China's economy, e-commerce has developed rapidly and Jack Ma has become a representative of e-commerce in China. However, the industry has also brought great negative effects: monopoly status; destruction of commercial real estate; impacting on the social security mechanism; destruction of street system; affecting fiscal taxation; employment pressure; rampant counterfeit goods ; raising logistics costs and challenging financial order. China should adopt cautious policies and be more prudent, and be prepared for huge policy cost needed to set everything in order again. Concerning if Jack Ma can successfully expand overseas, we believe the possibility is low, as the current prosperous e-commerce industry is a peculiar product of China and belongs to China, not to the world.