{"id":15630,"date":"2018-09-19T13:22:44","date_gmt":"2018-09-19T13:22:44","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=15630"},"modified":"2018-09-19T13:22:44","modified_gmt":"2018-09-19T13:22:44","slug":"its-going-to-be-a-mess-jack-ma-warns-trade-war-could-last-20-years","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=15630","title":{"rendered":"‘It’s going to be a mess’ : Jack Ma warns trade war could last 20 years"},"content":{"rendered":"
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\"How\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Tech tycoon Jack Ma told investors to hunker down for a drawn out trade war between the United States and China.<\/h2>\n

“It’s going to last long, it’s going to be a mess,” Ma, the founder and executive chairman of Alibaba<\/span> (BABA<\/a><\/span>)<\/span>, said Tuesday. <\/p>\n

The US-China trade war will last not for 20 months or 20 days, but “maybe 20 years,” he said. <\/p>\n

That would mean no easing of tensions between the world’s top two economies for many years after President Donald Trump has left office, even if he serves a second term. <\/p>\n

Ma made the remarks at an annual conference for Alibaba investors, just hours after the Trump administration slapped a new round of tariffs on Chinese goods worth $200 billion<\/a>. <\/p>\n

While the tech billionaire dismissed speculation that geopolitical headwinds played a part in the surprise announcement of his retirement last week<\/a>, he acknowledged that the ongoing spat with China’s largest trade partner is hurting Alibaba’s business. <\/p>\n

Shares in Alibaba closed 3.5% lower on Monday. The company’s stock is down 25% from its all-time high in June. <\/p>\n

\"alibaba
Alibaba’s business has been affected by the ongoing trade spat between China and the United States.<\/figcaption><\/figure>\n

Ma said a lot of businesses in China and the United States will be in trouble in the short term, and eventually, Chinese firms will be forced to turn to other countries. <\/p>\n

Ma said the trade war is “against China,” but also criticized his country’s policies, urging leaders to view the pain inflicted by Trump’s tariffs as an opportunity to “upgrade.” <\/p>\n

“China must open the market,” he added. <\/p>\n

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\"Daniel\n<\/div>\n<\/div>\n<\/div>\n

Ma also took the opportunity <\/strong>to reassure investors that the $410 billion company he helped build is in safe hands. He announced last week that he will step down from Alibaba in a year’s time, handing over the reins to CEO Daniel Zhang<\/a>. <\/p>\n

“I’m 100% sure Daniel will do a better job than I do,” Ma said. <\/p>\n

The 54-year-old former teacher<\/a> repeated his desire to pursue a new career, likely in the field of education. <\/p>\n

“I’m not sad at all. I think I’m still young,” he said. “In Alibaba I’m old, but in my career I’m still young.” <\/p>\n

CNNMoney (Hong Kong) <\/span> First published September 18, 2018: 6:34 AM ET<\/span> <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Tech tycoon Jack Ma told investors to hunker down for a drawn out trade war between the United States and China. “It’s going to last long, it’s going to be a mess,” Ma, the founder and executive chairman of Alibaba (BABA), said Tuesday. The US-China trade war will last not for 20 months or 20…<\/p>\n","protected":false},"author":10,"featured_media":15631,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/15630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15630"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/15630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/15631"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}