China's Alibaba Scraps Plan to Create 1M US Jobs

Marco Green
September 22, 2018

Jack Ma, the founder of Chinese retail giant Alibaba, is backing down on his promise to create 1 million jobs in the US over the next five years, amid the ongoing trade war between President Trump and China.

Citing the ongoing trade war between the U.S. and China, Mr Ma told China's Xinhua news agency: "There is no way to complete the promise". Jack Ma, has said that the ongoing trade frictions between America and China could last for two decades.

In August 2017, Mr Trump ordered an investigation of Chinese trade practices, accusing the country of unfair treatment of United States companies.

"There is no way to complete the promise, but we will not stop our efforts and will work hard to promote the healthy development of Sino-US trade".

Internet of Things (IoT) sensors installed in cities to collect traffic data - such as under Alibaba's "City Brain" programme - can also be utilised by driverless vehicles to increase operational accuracy, said a company official working on the technology. Ma expressed need for "new trade rules" over the long-term.

Now his company has withdrawn the plan to create 1 million jobs in the U.S, following Trump's promise to impose 25% tariffs on Chinese goods.

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.

Ma said that the US -initiated trade war is "against China", and also disapproved his country's policies requesting the leaders to open up the market and seize the situation as an opportunity to upgrade.

Alibaba's strong cloud computing and artificial intelligence capabilities, together with KPMG's global network, global enterprise solutions, business acumen and knowledge of global industries with many Fortune 1000 companies will complement each other in helping customers to expand into new markets.

Ma said in the open letter that he had made preparations for a 10-year succession plan in order to cultivate a system of corporate governance based on culture and mechanism for developing consistent talent and successors.

"I'm just 54, and I still have at least 16 years to do something new", Mr Ma told Xinhua.

"China has been forced to take retaliatory measures, and they are entirely meant to protect China's own interests", commerce ministry spokesman Gao Feng said at a weekly news briefing in Beijing.

Other reports by Click Lancashire

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