Alibaba’s Jack Ma goes back on promise to create 1 mln…

22 Setiembre, 2018, 01:16 | Author: Misty Newman
  • China's Alibaba Doubles Down on Chips Amid Cloud Computing Push

At an Alibaba investor conference on Tuesday Ma also called the trade frictions a "mess" that could have decades-long ramifications.

Ma had told Trump during a meeting in January 2017 that Alibaba, one of the world's largest and most valuable companies, planned to create a million jobs in the usa within five years by getting American small businesses to sell on its platforms.

In an interview with Chinese outlet Xinhua, Ma said recent back-and-forth tariffs between the USA and China made the pledge - which was heavily touted by Trump in the early days of the transition period - unworkable. "But the current situation has already destroyed that basis".

"That premise no longer exists today, so our promise can not be fulfilled", he said.

Ma, however, said Alibaba "will not stop working hard to contribute to the healthy development of China-US trade".

Alibaba past year held a conference in Detroit that encouraged small businesses as well as farmers in the U.S.to sell products they made or farmed to consumers in China through its platforms. This article is strictly for informational purposes only.

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At an event in Hangzhou, Zhejiang Province, on Wednesday, the Alibaba chairman said the trade dispute will likely have a lasting impact. Beijing said it will retaliate with tariffs of its own.

Pointing to the trade friction between the USA and Japan in the 1980s, Ma ruminated that Trump's decision to zero in on China has been triggered by the latter's strong economic growth.

"In the future, the manufacturing industry will be "Made In Internet"," said Ma, adding that trade will no longer be about containers but rather packages.

"This partnership between Alibaba Cloud and VMware will bring great value to enterprises as they seek to transform their operations, leveraging the power of cloud computing in this digital age", says Hu. He announced last week that he will step down from Alibaba in a year's time, handing over the reins to CEO Daniel Zhang.

Ma's comments also followed his surprise announcement - on his 54th birthday last Monday - about retiring next year.

He added that the trade war will last not for 20 months or 20 days, but "maybe 20 years".

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