Jack Ma says US-China trade war could last 20 years
GENEVA — Alibaba founder Jack Ma said Tuesday that the trade dispute between the U.S. and China could last 20 years. But he expressed hope that a solution could be reached as a trade war would “hurt everybody.”
The Chinese e-commerce billionaire also questioned the focus among some on trade deficits, calling it a relic of the 20th century. U.S. President Donald Trump has long decried the U.S.’s whopping deficit with China.
“When trade stops, sometimes the war starts. So trade is the way to stop wars,” Ma said at a World Trade Organization seminar. “Trade is the way to build up trust. It’s not the weapon to fight against each other.”
He said trade conflict would not only hurt the U.S. and China but other countries’ small businesses. The standoff, he added, “may last 20 years, unfortunately.”