Date: 7 months ago   Category: Economy

The head of Alibaba Jack Ma has predicted 20 years' trade war between the USA and China — Rambler News Service


The billionaire and the head of Alibaba Group Holding Jack Ma has warned that trade war between the USA and China can continue within 20 years, even after the expiration of presidential term of the head of state Donald Trump, Bloomberg writes. "In the short term the business community in China, the USA and Europe will face problems. It will proceed very long if you look for a short-term solution, then there is no such decision" — Ma has told during the conference in Hangzhou. According to him to resist to the USA, China has to strengthen the economy and also reorient trade from the USA on other regions, in particular, Southeast Asia and Africa. Ma whom the agency calls the richest person of China, has noted that the effect of trade war between two largest economies of the world will be more considerable, than expects most of experts. He has added that tension in the relations between the USA and China will mention including the Alibaba company. According to Ma if the USA raises taxes on the Chinese goods, then China will have to reorient the business, establishing new commercial relations with other countries that can become an impulse for growth of these companies. "If Alibaba isn't able to sustain (trade pressure from the USA. — RNS) also grow, any company won't be able. I am confident in it for 100%" — Ma has told. Earlier today Trump declared the next increase in the customs duties on the Chinese goods imported into the USA. This time protectionist measures of the American administration have mentioned goods from China for the total amount of $200 billion. Duties of 10% will be introduced on them since September 24, and since 2019 duty will grow to 25%. China already declared intention to introduce additional 10% duties on the goods of the American production with a total amount of $60 billion imported to the country since September 24. In June the president Trump has said that "in the light of plunder by China of intellectual property and technologies and also others unfair trade the practician" the USA will introduce the customs duties of 25% for the imported Chinese production for the sum of $50 billion. Later Trump has said that since July 6 duties on the imported Chinese production on the sum of $34 billion come into force, and within two weeks duties on $16 billion will come on July 6 into force China has introduced reciprocal duties of 25% for the imported American production for the sum of $34 billion, and then — for the sum of $16 billion.

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