Chinese billionaire and Alibaba founder Jack Ma delivered a blow to the United States Wednesday by saying it has spent too much money on wars and not enough on improving its infrastructure.
Ma, according to CNBC, made the remark at the World Economic Forum in Davos, Switzerland.
The network reports Ma as saying the U.S. has spent more than $14 trillion on wars and other conflicts in the last 30 years, money he said could have remained in the U.S. to fix the nation's infrastructure.
Ma added that the U.S. has failed to invest its money the right way. He said a nation should take care of its people.
"You're supposed to spend money on your own people. Not everybody can pass Harvard, like me," said Ma, whose application to attend Harvard University was rejected 10 times.
Regarding America's perceptions regarding China and how it takes U.S. jobs, Ma kept his foot on the gas.
"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.
Alibaba is a global e-commerce company and recently said its goal is to create 1 million U.S. jobs over the next five years.
Forbes pegs Ma's fortune at more than $27 billion.
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