Alibaba’s Jack Ma says US-China tariff war could last 2 decades

Marco Green
September 19, 2018

Chinese billionaire and Alibaba founder Jack Ma said on Tuesday that trade frictions between Washington and Beijing could last for two decades and would be "a mess" for all parties involved.

"You may win the battle, but you lose the war", Ma said at the shareholder event and reported by Reuters.

"It's not a sudden decision, but a deliberate decision that I've been preparing for 10 years", said Ma.

China has already said that it will retaliate.

Ma met with Trump past year and promised to create one million United States jobs linked to small merchants selling items on Alibaba platforms.

In a serious warning to the leaders of the nations who are at loggerheads with each other over trade tensions, the co-founder and executive chairman of Alibaba Group Holding Ltd.

Ma also rebutted rumors which suggested he was stepping down was due to health issues or pressure from the government.

According to Jack Ma's take, the tariffs are less about trade and more about containing China's growing economic clout. He acknowledged that the ongoing spat with China's largest trade partner was hurting Alibaba's business as well. "If Alibaba cannot sustain growth, no company in China can grow", he told the crowd, to rapturous applause.

The company's cloud revenue is accelerating as it dominates infrastructure as a service in China.

Ma expressed his thoughts while speaking at the Alibaba investor conference in Hangzhou shortly after the Trump-led USA administration announced impositions of duty tariffs on an extra $200 billion worth of Chinese imports and China announcing retaliatory measures on import of US products.

China's richest man will remain on the board of the conglomerate as he focuses his time and fortune on education, handing the reigns over to CEO Daniel Zhang a year from now.

Alibaba has just announced an 11 qubit quantum computer as part of its cloud offerings, making it the second-fastest public quantum computing platform in the world.

Other reports by Click Lancashire

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