China’s cooling, e-commerce giants reap windfall as a scorched Europe scrambles for relief

A heatwave sweeping across Europe has triggered a massive surge in sales for Chinese home appliances, with e-commerce giant Alibaba recording triple-digit growth for air conditioners and fans on its overseas platforms. On AliExpress, Alibaba’s international retail site, the June debut of air conditioners in Germany saw warehouse inventory for a 2.35-kilowatt Midea model completely wiped out by Thursday, according to data from Alibaba. The trend was also stark in southern Europe. Fan sales in...