Bottom line: JD.com's Thai joint venture looks like a smart move into Southeast Asia, though it shouldn't move too aggressively abroad and instead focus on becoming profitable.
China's big Internet companies have a pretty varied record for expanding abroad. At one extreme there's Alibaba (NYSE: BABA), which is using its big cash pot to buy a wide range of assets concentrated mostly in East and South Asia. Tencent (HKEx: 700) is in the middle, m...