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Jack Ma: US-China Trade War will Effect Badly on Small Businesses

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Trade war between China and the US will destroy a lot of small businesses, said Jack Ma, the co-founder of Alibaba Group Holding Ltd., at the World Trade Organization.

He added, “This thing may last for 20 years, unfortunately.” According to a media report, China’s richest man Jack Ma warned that the escalating trade war between U.S. and China is going to be severe and long-lived.

“When trade stops, sometimes the war starts. So trade is the way to stop wars,” Ma also said, “Today we see Made in China, Made in America, Made in Switzerland or Made in Geneva: 2030 will see Made in Internet.”

According to him more than 85 percent of business will be e-commerce. The American president has targeted allies and adversaries alike, threatening tariffs on all of China’s exports, proposing levies on European car-makers and saying he could leave the WTO, which he has described as “unfair.”

Ma said that the business community is opposed to the trade war and that avoiding military conflicts depends on commercial order.

“Trade is not a weapon, trade is not for wars,” Ma said. “Trade is for keeping world peace.”

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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