China's Alibaba Scraps Plan to Create 1M US Jobs

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Alibaba’s Jack Ma says US-China tariff war could last 2 decades

Alibaba co-founder Jack Ma told the Wolrd Economic Forum in Tianjin on Thursday that people should "mentally prepare" for 20 years of US-China trade wars.

Ma made his commitment on January 9, 2017, prior to Trump's inauguration in a meeting at Trump Tower in New York City. "Even if Donald Trump retired, the new president will come, it will still continue.We need new trade rules, we need to upgrade the WTO", he said, referring to the World Trade Organization.

Ma had told Trump during a meeting in January 2017 that Alibaba, one of the world's largest and most valuable companies, planned to create a million jobs in the usa within five years by getting American small businesses to sell on its platforms.

Chinese e-commerce giant Alibaba Group Holding no longer plans to create 1 million jobs in the United States amid the intensified trade war between China and the USA, according to company co-founder and executive chairman Jack Ma Yun.

But Mr Ma told Xinhua that his pledge had been made on the basis of continued co-operation and trade growth between the United States and China, and would now be hard to fulfil. "But if there is no trade between China, the 1 million jobs will be gone too".

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"You may win the battle, but you lose the war", Ma said at the shareholder event in Hangzhou.

"The current state of affairs has already destroyed the premise the promise was made on", Ma said in an interview on Tuesday. "There is no way to deliver the promise", he said.

As Alibaba grows into new markets, there will always be some sort of new burden they will have to accept. Ma made a call to postpone expansion into the United States, but itis hard to see Alibaba not expanding into the USA market at some point in the future.

Ma pointed to business opportunities in other regions such as Europe, South America, Russia and Africa, Xinhua said. China promptly reacted, announcing new trade tariffs on $60 billion of US goods.

Ma, the cofounder of Alibaba, announced in early September that he would step down from his role as chairman at the end of the year to focus on philanthropy.

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