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'

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? ”

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Article Details

Author / Journalist: Namrata Sen

Category: Technology

Markets: United StatesAfghanistanChinaIraq

Topics: BABA US4592001014 News CSCO Tech General US5949181045 Markets US17275R1023 Benzinga JD IBM MSFT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-18 @ 14:00:21 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 692 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27978808

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