The trade frictions between the United States and China could last for two decades, according to Jack Ma.
The pressures would influence Chinese and foreign companies negatively, Ma said.
According to Chinese eCommerce giant Alibaba’s Co-founder and executive chairman Jack Ma has recently said that the trade frictions between the United States and China could last for two decades.
Ma said that the pressures would influence Chinese and foreign companies negatively.
He also said that “even if US President Donald Trump retired, it will still continue. We need to upgrade the WTO (World Trade Organization).”
As a result, a lot of Chinese business will move to other countries, Ma believes.
He further said new trade rules were needed over the long-term.
As of August 2018, Jack Ma is one of China’s richest men with a Net Worth of US$38.6 billion, as well as one of the wealthiest people in the world.
Jack Ma’s primary ideology was for an open and Market driven Economy.
Ma is seen as a global ambassador for Chinese business and as such is frequently listed as one of the world’s Most Powerful people by Forbes.