Alibaba is China’s biggest online commerce company that offers consumer-to-consumer, business-to-consumer and business-to-business sales.
Jack Ma of Alibaba talks sense about US trade brouhaha
That Jack Ma is one of the more interesting faces in global ecommerce. He is now fantastically rich having founded Alibaba and he’s presided over amazing diversification in that business too. And, unlike the likes of Jeff Bezos, he has retained a normality and everyday quality that isn’t always seen in billionaires. As he says: “I am struggling to understand why a trade war with China would be good for the U.S. economy.”
In a surprisingly candid statement Jack Ma, who still leads Alibaba, has spoken freely and at length about his concerns and ambitions:
With average urban income growing at almost double digits and an emerging middle class of 300 million, Chinese consumers are already driving massive demand for imports from all over the world. Last year, President Xi Jinping said at the World Economic Forum that over the coming five years, China will import $8 trillion of goods.
It is therefore ironic that the U.S. administration is waging a trade war at a time when the largest potential consumer market in the world is open for business. Is America going to forfeit this opportunity?
– Jack Ma, Alibaba
Ma is right to speak up about what is increasingly becoming a trade war between the States and China. It may be international posturing but it does also represent a problem for ecommerce merchants too. Especially those who import goods from China. Ma ntelligently argues for calm heads to prevail that is both timely and entirely correct.
And it is also in stark contrast to President Donald Trump’s base and stupid protectionist stance. What say you?