Exclusive | China’s growth will remain enviable for the next 20 years, says Alibaba’s Jack Ma
In the first of a two-part series, Alibaba founder Jack Ma shares his views on the Chinese economy and the importance of entrepreneurship in supporting growth. Part II will address Ma’s vision for the South China Morning Post and his take on Hong Kong
China’s economy will face “a difficult three to five years” but the slowdown will be good for its long-term development, Alibaba executive chairman Jack Ma told the South China Morning Post in an interview just before the e-commerce giant’s takeover of the 113-year-old newspaper.
Ma said the Chinese economy was indeed grappling with structural problems and that the authorities were working hard to steer it onto a new growth path. But he dismissed fears that China would follow Japan’s route to stagnation, saying the country still had huge potential waiting to be tapped.
The rapid growth of China’s internet economy and consumer culture could help the country through its temporary difficulties, Ma said.
China would likely continue to grow at a rate “enviable to most other major economies for another 15 to 20 years”, he said.
Ma gave the two-hour interview in Hangzhou, eastern Zhejiang province, during which he also discussed his vision for the Post, cultural differences between the East and West, and his concerns for Hong Kong’s next generation.
