Jack Ma: Trade is ‘not the weapon to fight against each other’
Alibaba founder Jack Ma said Tuesday that the trade dispute between the U.S. and China could last 20 years and that escalating it would “hurt everybody.”
{mosads} Speaking at a World Trade Organization seminar, the Chinese e-commerce billionaire touted the positive aspects of trade, according to media reports.
“When trade stops, sometimes the war starts. So trade is the way to stop wars,” Ma said, according to AP. “Trade is the way to build up trust. It’s not the weapon to fight against each other.”
He said that trade conflict would spill over and affect other countries’ small businesses.
Ma also said the internet will make protectionism a thing of the past.
“Today we see Made in China, Made in America, Made in Switzerland or Made in Geneva: 2030 will see Made in Internet.”
More than 85 percent of business will be e-commerce, he said.
Ma is set to step down as chairman of Alibaba, the world’s largest e-commerce company, in September, but will remain a member of the Alibaba Partnership.
The White House placed $200 billion worth of tariffs on Chinese imports on Sept. 24, which immediately was met with $60 billion in retaliatory tariffs from China.
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