Jack Ma fears two decades of Sino-US tensionsBusiness | 15 Nov 2019 1:22 pm
Jack Ma, the co-founder and former chairman of Alibaba Group Holding, said trade “turbulence” between the U.S. and China could last 20 years if the two superpowers are not careful.
“We have to be very, very careful,” Ma said yesterday in an interview with Bloomberg TV. “We have to solve problems, we should not create more problems.”
While a full-scale trade war might not last that long, relations could end up rocky for the next two decades, he said.
Ma emphasized the importance of the two countries working together and sharing technology.
The trade dispute, which has been going on for more than a year and a half, has already ensnared more than 70 percent of bilateral trade in goods. If the two countries can’t resolve at least some of their differences in the coming weeks, the White House on December 15 will add 15 percent punitive tariffs on US$160 billion in Chinese imports.
China-based Alibaba, one of Asia’s biggest companies, is expected to ride out the storm better than some, thanks to booming online consumption in the world’s No 2 economy. But Alibaba saw its stock dip earlier this fall on reports that the Trump administration was weighing a limit on U.S. government pension funds buying Chinese stocks.