By: Lawrence Synder | 01-20-2017 | News
Photo credit: Gage Skidmore / Flickr

Alibaba’s Jack Ma Blames U.S., Not China, for Failing Economy

In what seems to be an indirect response to President-elect Donald Trump’s criticism on China, Jack Ma, founder of the largest online retailer Alibaba, said that the U.S. should blame itself for its ongoing economic issues. Ma made his statement during his appearance at the World Economic Forum in Davos, Switzerland.

Ever since the campaign period, Trump has maintained a firm stance against China. One of his polices back then was imposing higher taxes on U.S. companies that have manufacturing facilities in China.

According to Trump, this type of practice takes away potential jobs for the American people.

In response to this notion, Ma stressed that it is not the fault of other countries if U.S. jobs are relocated overseas.

“It’s not that other countries steal jobs from you guys,” he said during the event according to CNBC. “It’s your strategy. Distribute the money and things in a proper way. You’re supposed to spend money on your own people.”

Jack Ma then noted that over the last 30 years, the U.S. spent more than $14 trillion in its war efforts. According to Ma, the U.S. should have just used this money on investing in domestic programs for the benefit of the public.

What Jack Ma failed to realize, however, was that allocating these funds was a necessary move by the U.S. in order to ensure the safety of its citizens. Since terrorism has gotten worse over the past few decades, the U.S. government had to respond by pooling its resources in order to keep hostile groups, foreign or domestic, at bay.

In addition, what Jack Ma said about the U.S. losing jobs to other countries is an issue that Trump is already starting to resolve even before stepping in as the new president of the country. Aside from working with local and foreign companies to establish facilities in the U.S. to generate more jobs, he is still committed to imposing higher taxes on companies that outsource their manufacturing operations.

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