The Alibaba (NYSE:BABA) founder and Chief Executive Jack Ma has warned the United States saying, “When trade stops, war starts”. Expressing his concern on a trip to China, Ma, who is the second richest man in China, said it can lead to big trouble if we retreat from globalization. Ma has even told Trump what he thinks.
Speaking in Melbourne, he said, “Everybody is concerned about trade wars. If trade stops, war starts”. Ma was in the country to open new headquarters of the company in New Zealand and Australia. He went on to add that just worrying about the problem won’t solve it. You have to get involved and show how international trade helps people in communications.
It Has To Be Fair and Transparent Trade
But Ma pointed out that globalized economy isn’t just about goods and money transactions. It is much more. The trade he says should be, “fair, transparent, and inclusive. Trade is about a trade of values. Trade of culture”.
The billionaire from China, who is close to President Trump is so much committed to the global economy that he feels like flying a hundred thousand kilometers in a month for promoting global commerce. In early January, Ma met Trump in New York and asked him to focus on small businesses. He also showed Trump how to create 1 million new US jobs in the next five years.
This time, however, though he did not name Trump, but Jack Ma was critical of the protectionist stance the President has taken after coming to office.
US Shouldn’t Have Invested Trillions of Dollars on War
Earlier, Ma was critical of the United States, saying the country has wasted trillions of dollars on war, money which could have been better invested in infrastructure. He was speaking at the World Economic Forum at Davos in Switzerland.
The issue arose after Donald Trump blamed China for taking American jobs, and proposed new tariffs on Chinese imports. The Alibaba (NYSE:BABA) boss said that if anyone is to be blamed, then America should blame themselves. “It’s not that other countries steal jobs from you guys,” It’s your strategy. Distribute the money and things in a proper way”.
Ma pointed out that the United States has wasted more than $14 trillion in fighting wars in the last 30 years. This is why America’s economic growth has weakened, he says. The money should have been invested in infrastructure.