SPECIAL NOTE: IN THE WORLD TODAY, when Jack Ma talks, the world learns to listen carefully to what he is saying! He is saying the whole trade war between American and China is STUPID!…I wonder what he now thinks of President Donald Trump…you guess it! Steve, USA, November 5, 2018 wechat 1962816801 firstname.lastname@example.org Blog: https://getting2knowyou-china.com
US-China trade war is the ‘most stupid thing in the world’, says Alibaba’s Jack Ma
• Alibaba’s executive chairman says that as China shifts from an export-led model to an import-led one, it would find the switch extremely challenging
• Jack Ma’s comments come just days before the Singles’ Day online shopping extravaganza on November 11
05 November, 2018 scmp Zen Soo
(See article below on Why Jack Ma thinks he cannot fulfill the promise he made to Trump about providing jobs for Americans because of the trade war! Read this in
“Jack Ma said Trump’s trade war with China will wreck Alibaba’s plans to help create 1 million US jobs” by Bob Bryan Business Insider
Alibaba Group Holding executive chairman Jack Ma on Monday slammed the US-China trade war as the “most stupid thing in this world”.
Ma, China’s richest man with a net worth of nearly US$38 billion, is an outspoken critic of the trade dispute between China and the US that has seen both sides slap billions of dollars worth of tariffs on each other’s goods. Neither side has shown signs of backing down.
“Trade is to communicate … nobody can stop free trade,” he told a business forum held on the sidelines of the China International Import Expo in Shanghai.
Ma, 54, who is working to establish an electronic world trade platform, a “digital Silk Road” that lets China trade electronically with several countries, said that the country is shifting away from an export model to an import model and that it would be the “greatest challenge for China”.
He reiterated that opportunities can be found during challenging times.
Huge opportunities in current adversity, says Jack Ma in final shareholder letter as Alibaba executive chairman
“It’s going to be a huge pain to a lot of businesses, but it’s also going to be a good opportunity for a lot of consumers,” he said, adding that China can face any challenges.
Ma’s comments come as US President Donald Trump blames China for “unfair trade policies”, which Trump claims to have caused a huge trade deficit for the US.
Chinese President Xi Jinping is expected to meet US President Donald Trump in Buenos Aires next month, immediately after the G20 leaders’ summit, that could lead to a possible truce in the trade dispute.
In speeches made over the last two months, Ma has said that the US will “suffer more” from the dispute, stating that the US economy had benefited from its trade relationship with China.
At an Alibaba investor event in September, Ma warned that the trade war could last as long as two decades.
Ma’s latest comments come just days before his e-commerce empire, which started out as a platform connecting buyers around the world with Chinese suppliers, kicks off an extravagant shopping festival on November 11 that will see tens of billions in sales transacted on its platforms.
The shopping extravaganza, nicknamed Singles’ Day, has in recent years placed emphasis on cross-border e-commerce, where customers in China are able to enjoy hefty discounts on foreign-branded products.
Jack Ma sets out his New Manufacturing vision as Alibaba announces dedicated chip unit
On Monday, Ma also stated that manufacturing was no longer creating jobs in China, pointing to the rise of services that will help create employment.
At an Alibaba cloud computing event in September, Ma predicted that the future of the manufacturing industry will be in New Manufacturing, where data and the internet will help manufacturers better cater to their consumers by producing customised pieces and creating “2,000 pieces of clothing that are different in five minutes”, as opposed to mass-producing an item.
Ma, which has long been the face of Alibaba, will step down from his role as Alibaba executive chairman in September next year, handing over the reins to current chief executive Daniel Zhang as he seeks to spend more time in philanthropy and education.
Alibaba owns the South China Morning Post.
Jack Ma said Trump’s trade war with China will wreck Alibaba’s plans to help create 1 million US jobs
Sep. 19, 2018 BUSINESS INSIDER
• Alibaba chairman Jack Ma said that the US-China trade war will wreck the company’s pledge to help create 1 million US jobs.
• The comment, made in an interview with Chinese media outlet Xinhua, comes two days after Trump announced a fresh set of tariffs on $200 billion worth of Chinese goods.
• Ma also said that trade should be used as a tool for peace rather than a weapon.
Jack Ma, the recently departed chairman of Chinese retail giant Alibaba, said Wednesday that President Donald Trump’s trade war with China will scuttle the company’s pledge to bring 1 million jobs to the US.
In an interview with Chinese outlet Xinhua, Ma said recent back-and-forth tariffs between the US and China made the pledge — which was heavily touted by Trump in the early days of the transition period — unworkable.
“The promise was made on the premise of friendly US-China partnership and rational trade relations,” Ma said. “That premise no longer exists today, so our promise cannot be fulfilled.”
Ma has previously been critical of the protectionist moves from the Trump administration and said Wednesday that trade should not be used as a weapon, but rather as a way to bring peace between countries.
The Alibaba executive’s comments come the day after the trade war escalated further. On Monday, Trump announced a 10% tariff on another $200 billion worth of Chinese goods. On Tuesday, Beijing came back with tariffs on another $60 billion worth of US goods.
Given the relative lack of talks between the two sides, the likelihood of the trade war subsiding anytime soon is slim.
Alibaba’s original promise was predicated on the idea that by giving US small businesses more access to the Chinese market through Alibaba, the platform could help job growth in America. Many analysts were skeptical, but Trump touted it as a sign that his economic policies would help the US.
Given China’s counter-tariffs and the push for Chinese firms to find alternative, non-US sources for goods, the already optimistic pledge would be even more unlikely in the current environment.
Ma, the cofounder of Alibaba, announced in early September that he would step down from his role as chairman at the end of the year to focus on philanthropy.