Jack Ma Says Creating 1 Million Jobs In The US Impossible Due To US-China Trade War


New Delhi: Jack Ma, co-founder Alibaba Group Holding Ltd, said his commitment to create 1 million jobs in the United States is impossible to fulfill because of the US-China trade war. This is a setback in one high-profile effort for deeper cooperation between the world’s two largest economies.

Ma, China’s richest man said the pledge made to President Donald Trump was no longer feasible because of the unstable trade situation. Ma and Trump met in January 2017 to discuss how adding small and medium-sized US businesses to Alibaba’s platform would boost employment.

Ma has grown increasingly critical of the trade battle between the US and China, warning that it will damage businesses around the world. On Tuesday, he cautioned China’s business and political leaders to prepare for the conflict to last 20 years, beyond the Trump presidency, as the two countries battle for economic supremacy.

“The promise was made based on China and the US having a collaborative and friendly relationship,” he said in the Xinhua interview. “The situation now has completely destroyed our premise, so it can no longer be completed.”

Ma also said that he will keep making efforts to push for the healthy development of bilateral trade ties. He said that trade is not a weapon and shouldn’t be used for wars.

On Thursday, Ma said weakness in the economic outlook is “problematic” for the company.

“The economic outlook is not perfect of course, and it will last longer than people expect,” Ma said at the World Economic Forum in Tianjin. “If you look at the government conference papers, every year they say we have complex problems in the economy.”

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