JD.com is acquiring Ceconomy - and from a European perspective, the deal raises far more questions than the headlines suggest. In this episode, Ingrid takes a deep dive with China expert Ed Sander. They discuss why JD is not treating Europe as a growth adventure, but as a strategic detour. They unpack why JD’s own platform experiments such as Joybuy and Ochama failed in Europe, why trust and localisation are decisive here - and why Ceconomy is less a retail asset for JD than a distribution shortcut. The episode also focuses on the growing negotiating power of Chinese players that bundle Western and Chinese brand volumes - with tangible consequences for prices, margins, and market structures. An episode about structural shifts in European commerce - and why this deal should be understood as a signal rather than a one-off.