US will lose the trade war – but the whole world will suffer
US PRESIDENT Donald Trump’s moves to hinder the rise of China’s economy and reverse the trade deficit is “ill-advised” and will only cause the US to “suffer more” in the long run, Alibaba’s head executives said Wednesday. Speaking at the South China Morning Post’s (SCMP) China Conference in Kuala Lumpur, CEO Jack Ma said he didn’t understand the logic behind Trump’s approach of imposing tariffs on huge numbers of Chinese imports. The business mogul also pointed out that America has benefitted from its trade relationship with China, predominantly due to outsourcing jobs to Asia’s biggest economy. Despite fearing the tactics would damage global trade, Ma said he still remained “optimistic.” SEE ALSO: US-China Trade: Are we heading for the next cold war? Citing America’s US$350 billion trade deficit with China, and Beijing’s intellectual property theft, Trump has mounted up tariffs on large chunks of Chinese imports, causing the global economy to slow....
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