US will ‘suffer more’ in trade war with China: Alibaba’s Jack Ma
Cold-war style offensive by America is an ill-advised miscalculation that will cause pain ‘all over the world’, warn top executives of Chinese conglomerate
Speaking via video link to the audience of business leaders and diplomats, Ma said he did not see the logic behind the US tariff offensive to reverse its large trade deficit with China.
The US economy had in fact benefited from its trade relationship with the China, Ma said, pointing out the Western superpower’s gross domestic product had grown steadily in part because of the outsourcing of jobs to China.
Highlights from the China Conference:
Ma’s second in command, Joe Tsai, the Chinese conglomerate’s executive vice-chairman, had harsher words for Washington as he declared the trade war had morphed into a “cold war or geopolitical war started by the United States”.