Jack Ma Was Once Ready To 'Destroy' Alibaba To End US-China Trade War: 'I Would Be Happy If China And USA Agree On Something'

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Jack Ma Was Once Ready To 'Destroy' Alibaba To End US-China Trade War: 'I Would Be Happy If China And USA Agree On Something' - Benzinga

Quick Summary:

What Happened: In an old interview, Jack Ma acknowledged that in the past 30 years, top U.S.companies like IBM (NASDAQ:IBM), Cisco (NASDAQ:CSCO) and Microsoft (NASDAQ:MSFT) earned a lot of profit which are much more than the four largest banks in China put together, however, after the financial crisis of 2008, the country lost trillions of money and lots of white and blue collar jobs.

Alibaba Group Holding Ltd.(NYSE:BABA) co-founder Jack Ma once expressed that trade wars, such as the one brewing between the U.S.and China, are obscuring deeper issues of resource allocation and wealth concentration, while posing a risk to global stability.

The Chinese billionaire asks, “Where (did) the money go? ”