Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Alibaba executive warns trade war pain will be felt globally - SCMP

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/11/2018 | 04:48am CET
Tsai speaks during an in Hangzhou

HONG KONG (Reuters) - The escalating trade war between the United States and China is careening towards a "cold war or geopolitical war" that will reverberate around the world, a senior executive at Alibaba Group has said.

Joe Tsai, Alibaba's executive vice chairman, accused the United States of starting the trade war over "an unfounded fear" that China's rise threatened the national security of the American people, the South China Morning Post said on Thursday.

Tsai was speaking at a conference hosted by the newspaper in Kuala Lumpur on Wednesday, a day after U.S. President Donald Trump repeated his threat to slap tariffs on an additional $267 billion (£201.8 billion) of Chinese imports.

Alibaba, China's biggest e-commerce firm, owns the Hong Kong-based South China Morning Post.

"It is really ill-advised for the United States to launch a war of some sort targeting China, thinking that they can treat China like the way they treated Russia by isolating the economy and bringing on pain," Tsai was quoted as saying.

"We are so integrated that the pain is going to be felt all over the world," he added.

Alibaba co-founder Jack Ma told the conference via video link that he believed the United States would "suffer more" from the dispute, the newspaper said.

Ma said in September trade frictions between the world's two largest economies could last for two decades and would be "a mess" for all parties involved.

Ma had a high-profile meeting with U.S. President Donald Trump last year where Ma promised to create one million jobs in the United States linked to small merchants selling items on Alibaba platforms.

Trade relations have since deteriorated between China and the United States in a tit-for-tat escalation in tariffs.

(Reporting By Anne Marie Roantree; editing by Darren Schuettler)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
05:33aRise on trade war thaw; Philippines up ahead of central bank meet
RE
05:29aAsian shares surge as US-China trade thaw seen, sterling wobbles
RE
05:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
05:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
05:10aBUSINESS NEW ZEALAND : Steady ETS development
PU
04:49aChina's yuan edges up on signs of thaw in Sino-U.S. trade relations
RE
04:32aChinese state media urges Canada to defy U.S., free Huawei executive
RE
04:32aCanada warns U.S. not to politicize extradition cases
RE
04:32aCanada warns U.S. not to politicize extradition cases
RE
04:31aCanada warns U.S. not to politicise extradition cases
RE
Latest news "Economy & Forex"
Advertisement