KPMG takes Alibaba Cloud to the masses

Judy Cobb
September 22, 2018

The founder of Alibaba, (NYSE:BABA) Jack Ma states they are no longer planning on expanding into the United States due to the tension in trade relations between the USA and China.

Jack Ma, the founder of Chinese retail giant Alibaba, is backing down on his promise to create 1 million jobs in the USA over the next five years, amid the ongoing trade war between President Trump and China.

In an interview Wednesday with Xinhua, the official state-run press agency of the People's Republic of China, Ma said the idea was premised on a friendly U.S.

Against the backdrop of rising trade protectionism, he said that goal has become even more relevant.

He claimed US President Donald Trump's escalating tariffs battle with Chinese counterpart Xi Jinping has "ruined" his pledge, adding: "But we won't stop working hard to promote the healthy development of Sino-US trade".

Ma promised the recruitment drive during a meeting with Mr Trump in January 2017 but made a U-turn amid an ongoing trade war, a move that is certain to rattle President Donald Trump. Drawing a comparison to USA trade action against Japan in the 1980's, Ma mused that the US was now targeting China because it has become the world's second largest economy.

Manchester City players don't need to apologise for Lyon loss - Pep Guardiola
Aguero added: "I am happy for this additional year". "We are going to help in the final third, to take decisions, to find spaces. These teams met in the FA Cup last season, when Manchester City won and Leroy Sane got clobbered by a Joe Bennett tackle.

Tensions have escalated this week as China vowed to retaliate against U.S. plans to levy tariffs on about $200 billion in Chinese goods.

The ninth edition of the tech fest will also feature latest trends in cloud computing, artificial intelligence, Internet of Things and blockchain. "Trade should be the propeller of peace".

Some experts said Ma's plan to bring 1 million jobs to the USA might have been overly ambitious in the first place.

Ma announced earlier this month that he would step down as chairman of the country's top e-commerce company next September and focus more on philanthropy.

He has expressed a desire to follow in the philanthropic footsteps of Microsoft founder Bill Gates.

Ma made the comments during an interviewwith Xinhua. The 54-year-old former teacher repeated his desire to pursue a new career, likely in the field of education.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER