China's Alibaba doubles down on chips amid cloud computing push

Lloyd Doyle
September 22, 2018

Separately, Ma had warned China's business and political leaders that the trade war between China and the US could last 20 years, longer than Mr. Trump's presidency, according to Bloomberg News.

However, on Thursday Mr Ma said the pledge had been based on the idea of strong US-China relations, which have now turned sour.

The billionaire owner of China┬┤s largest online shopping portal made the headline-grabbing promise to Donald Trump previous year, as Beijing courted the then-newly elected president.

Ma's remarks come a day after U.S. President Donald Trump announced his decision to impose additional tariffs on $200 billion more in Chinese goods starting next week.

He then went on to say that the current trade dispute between the two sides is focused on old, traditional manufacturing. Ma expressed need for "new trade rules" over the long-term.

While the tech billionaire dismissed speculation that geopolitical headwinds played a part in the surprise announcement of his retirement last week, he acknowledged that the ongoing spat with China's largest trade partner is hurting Alibaba's business.

Tensions have escalated this week as China vowed to retaliate against U.S. plans to levy tariffs on about $200 billion in Chinese goods.

"The U.S. like competition, China likes harmony, they're two different cultures", Ma said at an investor conference in Shanghai on Tuesday.

But yesterday he said: "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's strong cloud computing and artificial intelligence capabilities, together with KPMG's global network, global enterprise solutions, business acumen and knowledge of global industries with many Fortune 1000 companies will complement each other in helping customers to expand into new markets. "Trade should be the propeller of peace".

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.

"I'm just 54, and I still have at least 16 years to do something new".

Other reports by Iphone Fresh

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