US-China trade war is the ‘most stupid thing in the world’, says Alibaba’s Jack Ma
- Alibaba’s executive chairman says that as China shifts from an export-led model to an import-led one, it would find the switch extremely challenging
- Jack Ma’s comments come just days before the Singles’ Day online shopping extravaganza on November 11
Alibaba Group Holding executive chairman Jack Ma on Monday slammed the US-China trade war as the “most stupid thing in this world”.
Ma, China’s richest man with a net worth of nearly US$38 billion, is an outspoken critic of the trade dispute between China and the US that has seen both sides slap billions of dollars worth of tariffs on each other’s goods. Neither side has shown signs of backing down.
“Trade is to communicate ... nobody can stop free trade,” he told a business forum held on the sidelines of the China International Import Expo in Shanghai.
Ma, 54, who is working to establish an electronic world trade platform, a “digital Silk Road” that lets China trade electronically with several countries, said that the country is shifting away from an export model to an import model and that it would be the “greatest challenge for China”.
Ma reiterated that opportunities can be found during challenging times.
“It’s going to be a huge pain to a lot of businesses, but it’s also going to be a good opportunity for a lot of consumers,” he said, adding that China can face any challenges.
