Jack Ma: Prepare for 20 years of China-US trade war

Jack Ma walks back promise to create 1M US jobs

The China-US trade war could persist for 20 years, according to Jack Ma, co-founder of the Alibaba Group, at the Chinese tech giant's annual investor conference on Tuesday in Hangzhou, Zhejiang Province.

Ma said Alibaba could create "1 million jobs over the next five years by enabling 1 million American small businesses and farmers to sell us goods to China and Asian consumers on the Alibaba platform".

"The promise was made on the premise of friendly US-China partnership and rational trade relations", Ma told Xinhua.

On Wednesday Ma told Xinhua, a Chinese news site, "The current situation has already destroyed the original premise".

"We're very pleased to form an alliance with Alibaba Cloud as this relationship will further our commitment to help clients address key transformation priorities in the areas of growth, innovation and operational efficiency", said Honson To, chairman of KPMG China and Asia Pacific.

"Trade is not a weapon and can not be used for wars", he added.

Alibaba has established a quantum computing laboratory now proceeding with 81-bit random quantum network simulation, and plans to release standard quantum chips in the next 2-3 years, Zhang was cited as saying.

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Instead of helping American small businesses reach Chinese consumers, one of the richest men in China said Alibaba will seek business opportunities elsewhere, mainly in Russia, Europe, South America, and Africa.

Ma made the remark after President Donald Trump ordered the US Trade Representative to impose fresh tariffs on $200 billion worth of Chinese goods. China has retaliated with its own tariffs on US goods. "If Alibaba cannot sustain and grow, no company in China can grow".

In August 2017, Mr Trump ordered an investigation of Chinese trade practices, accusing the country of unfair treatment of U.S. companies.

It's going to last long, it's going to be a mess.

Ma plans to step down in a year as the company's chairman, and remain on the board through 2020.

Ma's comments also followed his surprise announcement - on his 54th birthday last Monday - about retiring next year.

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