Jack Ma kills 1m US jobs promise, blaming US-China trade war

Ma said new trade rules were needed over the longterm

Ma had pledged to stimulate job growth when he met with President Trump in early 2017, saying he expected Alibaba to add the new positions over the next five years.

On Monday, the Trump administration expanded tariffs on another $200 billion worth of Chinese imported goods.

He said new trade rules are desperately needed over the long-term.

He added: "The trade in the world really needs to be perfected, but trade is not a weapon, it can not be used for war, it should be a propeller for peace".

Alibaba founder Jack Ma, who once boasted his e-commerce firm would spur the creation of one million jobs in America, has rowed back on those plans.

This week Trump said he would press ahead with 10 percent levies on $200 billion of imports - on top of $50 billion already targeted - prompting Beijing to target another $60 billion of USA goods with five to 10 percent taxes. "We have visited a lot of countries and regions and find opportunities are everywhere".

The physical manufacturing will not vanish, but the backward one will, Ma said, speaking in terms of a time frame of 10 to fifteen years.

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Ma announced in an open letter on September 10 that he would retire as the chairman of the board on September 10, 2019, Alibaba's 20th anniversary, adding that the company CEO Daniel Zhang will take over as the chairman of the board.

"Innovators have long worked on developing smart vehicles but unable to achieve the required efficiency", Wang Gang, chief scientist at Alibaba A.I. Labs, which is the artificial intelligence (AI) development arm for Alibaba Group, said at the Cloud Computing Conference 2018 here today.

That statement had been met at the time with some dubiousness because of how Ma characterized the jobs, and us economists' doubts that the impact could be that high.

Daniel Zhang has been the company's CEO since May 2015. "This kind of thing happens, it's very natural".

"The current economic situation is indeed not good, and that could go on longer than people think", Ma said. "Otherwise we will never choose the name Alibaba, we'd choose another insane Chinese name that people don't understand".

He said he would work closely with the company's next generation of leaders to ensure a smooth transition and is full of confidence about Alibaba's future.

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