- Title: Alibaba's Ma calls U.S.-China trade war 'most stupid thing in this world'
- Date: 5th November 2018
- Summary: SHANGHAI, CHINA (NOVEMBER 5, 2018) (REUTERS) ALIBABA GROUP CO-FOUNDER AND EXECUTIVE CHAIRMAN, JACK MA WALKING IN WITH OTHER GUESTS AUDIENCE TAKING PICTURES PANEL IN PROGRESS (SOUNDBITES) (English) ALIBABA GROUP CO-FOUNDER AND EXECUTIVE CHAIRMAN, JACK MA, SAYING: "And we have to making sure that we should not worry about those things like trade. Trade war is the most stupid thing in this world. Trade is to form the peace. Trade is to communicate. There will be no trade and deficit issue in the next 20 years because of the technology. Nobody can stop the free trade." VOLUNTEERS STANDING (SOUNDBITES)(English) ALIBABA GROUP CO-FOUNDER AND EXECUTIVE CHAIRMAN, JACK MA, SAYING: "Today look at the USA economy. This is the best in history, this is what Donald Trump said, the president. And he said the unemployment was the lowest. Why is that? Because of the trade deficit. Trade deficit helped create jobs. Trade deficit helped US to get all the cash that China made from the trade. Trade deficit to do not count the IP intellectual property of the US companies. So I would say, if there's really no trade and deficit, for USA there's gonna be big problems." PANEL IN PROGRESS CAMERAMAN FILMING WITH AUDIENCE SITTING AUDIENCE WATCHING PANEL IN PROGRESS
- Embargoed: 19th November 2018 11:43
- Keywords: Jack Ma tariffs Alibaba CIIE China International Import Expo President Donald Trump
- Location: SHANGHAI, CHINA
- City: SHANGHAI, CHINA
- Country: China
- Topics: Government/Politics,International Trade
- Reuters ID: LVA00195896BR
- Aspect Ratio: 16:9
- Story Text: The U.S.-China trade war is the "most stupid thing in this world," Jack Ma, the chief of Asia's most valuable public company, Alibaba Group Holding Ltd, said on Monday (November 5).
The two countries have set tariffs on hundreds of billions of dollars of each other's goods and U.S. President Donald Trump has threatened to slap tariffs on the remainder of China's $500 billion-plus exports to the United States if the trade dispute cannot be resolved.
Ma made the comments at the China International Import Expo (CIIE) held in the Chinese commercial hub of Shanghai.
The U.S. trade deficit with China, which Trump has blamed for a variety of economic ills, has helped create jobs in the U.S. and without it the country would have big problems, Ma added.
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