(ANTIMEDIA) Davos — Speaking at the World Economic Forum in Davos, Switzerland, Jack Ma, the billionaire founder of Alibaba — the Chinese company that surpassed Wal-Mart as the world’s largest retailer in 2016 — said the United States has no one but itself to blame for its economic woes, and that much of the problem is rooted in wasteful spending on warfare.
CNBC’s Andrew Ross Sorkin had asked Ma about his thoughts on the American economy and how it relates to China. Incoming President Donald Trump’s stance has consistently been anti-China — the former reality TV star has long accused the Asian superpower of siphoning U.S. jobs — and he and the trade team he’s putting together appear eager and willing to impose tariffs on Chinese goods.
“It’s not that other countries steal jobs from you guys. It’s your strategy. Distribute the money and things in a proper way,” Ma said, adding, “You’re supposed to spend money on your own people.”
On the issue of military spending, the Chinese billionaire claimed the U.S. has wasted over $14 trillion on warfare over the past three decades — money that, again, could’ve been invested in domestic infrastructure and programs for the American populace.
On Wednesday, as Anti-Media reported, Chinese President Xi Jinping gave a historic speech at the World Economic Forum in Davos in which he praised globalism and made a case for China as the world’s new economic leader.
Speaking of globalization, Ma called it a “perfect” strategy, and pointed out that U.S. corporations have profited substantially from the system:
“The American multinational companies made millions and millions of dollars from globalization. The past 30 years, IBM, Cisco, Microsoft, they’ve made tens of millions — the profits they’ve made are much more than the four Chinese banks put together…But where did the money go?”
In welcoming China’s president to the stage at Davos on Wednesday, WEF founder and chairman Klaus Schwab stated, “In a world marked by great uncertainty and volatility the world is looking to China.”
Alibaba’s Jack Ma, in speaking to CNBC, seemed to echo this sentiment — that’s it’s China and the system of economic globalization that will blaze the path into the future:
“The world needs new leadership, but the new leadership is about working together. As a business person, I want the world to share the prosperity together.”
This article (Chinese Billionaire Says He Knows Where America’s Jobs Went — and It’s Not China) is free and open source. You have permission to republish this article under a Creative Commons license with attribution to James Holbrooks and theAntiMedia.org. Anti-Media Radio airs weeknights at 11 pm Eastern/8 pm Pacific. Image credit: World Economic Forum. If you spot a typo, please email the error and name of the article to firstname.lastname@example.org.
Since you’re here…
…We have a small favor to ask. Fewer and fewer people are seeing Anti-Media articles as social media sites crack down on us, and advertising revenues across the board are quickly declining. However, unlike many news organizations, we haven’t put up a paywall because we value open and accessible journalism over profit — but at this point, we’re barely even breaking even. Hopefully, you can see why we need to ask for your help. Anti-Media’s independent journalism and analysis takes substantial time, resources, and effort to produce, but we do it because we believe in our message and hope you do, too.
If everyone who reads our reporting and finds value in it helps fund it, our future can be much more secure. For as little as $1 and a minute of your time, you can support Anti-Media. Thank you. Click here to support us