Alibaba Won't Create 1 Million US Jobs, Blames US-China Trade Friction

China's Alibaba Doubles Down on Chips Amid Cloud Computing Push

Ma said new trade rules were needed over the long term.

Ma had told Trump during a meeting in January 2017 that Alibaba, one of the world's largest and most valuable companies, planned to create a million jobs in the us within five years by getting American small businesses to sell on its platforms.

The billionaire owner of China's largest online shopping portal made the headline-grabbing promise to Donald Trump past year, as Beijing courted the then-newly elected president. "But the current situation has already destroyed that basis. There is no way to deliver the promise", he said.

Trump on Monday imposed 10 per cent tariffs on about US$200 billion worth of imports from China, and threatened duties on about US$267 billion more if China retaliated.

Instead of building factories, or establishing Alibaba operation centers in the USA, the Chinese billionaire expressed hope that small American businesses can sell goods to consumers in China thereby creating more domestic jobs in the US. This article is strictly for informational purposes only.

European Union also preparing for 'No Deal Brexit'
In practice, to allow for parliamentary ratification, that means a deal must be struck in the next couple of months. Jean-Claude Juncker, who heads the EU Commission, is one of the leaders whom May failed to impress.

China hopes the United States will show sincerity and take steps to correct its behavior, its commerce ministry said on Thursday, after both countries slapped new tariffs on each other's goods this week in an escalating trade war.

At Alibaba's annual computing conference on Wednesday, Jin Zhi, director of Hangzhou municipal bureau of public security, said the system has been used to optimize the management of 1,300 traffic lights at intersections and to connect 4,500 traffic monitoring video cameras.

Ma said he and Zhang will work together on the internalization and cultural development of the company as well as the cooperation between Alibaba and Ant Financial during the previous year of him being chairman of the board.

Ma has grown increasingly critical of the trade battle between the United States and China, warning that it will damage businesses around the world. The 54-year-old former teacher repeated his desire to pursue a new career, likely in the field of education. He therefore called upon entrepreneurs to be prepared for a 20-year-long dispute, as it "cannot be solved within two months or two years".

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