China trade war could last 20 years, warns Jack Ma

Alibaba

Alibaba

"Trade should be the propeller of peace". Alibaba countered that it had taken aggressive steps to tackle the problem, and said it had become a scapegoat under a USA protectionist agenda.

Ma said the trade war is "against China" but also criticised his country's policies, urging leaders to view the pain inflicted by Trump's tariffs as an opportunity to "upgrade". "The more frequently I visit places in Europe, South America and Africa, the more confidence I have for these markets".

China responded a day later with tariffs on about US$60 billion worth of U.S. goods as planned, but reduced the level of tariffs it will collect on the products. Together with the e-commerce platform, it has filed more than 90 blockchain patents, even outnumbering the top tech giants including IBM. In fact, the Chinese e-commerce company officially announced the Tmall Genie past year.

Even then, some observers said the figure would be hard to meet, especially given the relatively short time frame given by Ma. The company will develop its own quantum processors for cloud-accessible systems that will deliver the technology "as a utility" and develop quantumclassicial hybrid algorithms.

Daniel Zhang has been the company's CEO since May 2015.




Jack Ma, though he had not went into detail about how he would add the jobs he promised, wanted to encourage small American businesses to sell on the Alibaba marketplace Tmall and Taobao.

At an event in Hangzhou, Zhejiang Province, on Wednesday, the Alibaba chairman said the trade dispute will likely have a lasting impact.

"It's going to be long-lasting, it's going to be a mess, maybe 20 years", Ma said. "Only when a company has developed a mechanism and consistent talent, can it run smoothly", he said.

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

Ma, a former English teacher, said in the open letter that he wants to return to education. "Rural students should be able to get a good education".

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