Tags: Alibaba | CEO | Jack Ma | Trade Stops

Alibaba CEO Jack Ma Warns: 'If Trade Stops, War Starts'

Image: Alibaba CEO Jack Ma Warns: 'If Trade Stops, War Starts'

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By    |   Wednesday, 15 Feb 2017 12:55 PM

Jack Ma, the CEO of Chinese e-commerce giant Alibaba, has issued a cryptic warning about protectionist stances on trade.

"If trade stops, war starts," Ma said recently in Melbourne, Australia, CBC.ca reported.

"We have to actively prove that trade helps people to communicate. And we should have fair trade, transparent trade, inclusive trade," Ma said, according to published reports.

"The world needs globalization, it needs to trade," Ma said. "Trade is about trade of values. Trade of culture," he said, without mentioning President Donald Trump by name.

To be sure, the head of the International Monetary Fund said that Trump taking office is likely good for the American economy in the short term, though rising interest rates and a strengthening dollar will challenge global trade.

Christine Lagarde said Trump's plans for additional investment in U.S. infrastructure and his likely tax reforms will boost America's economic fortunes, the AP reported.

However, Lagarde acknowledged that Trump's policies likely will squeeze international markets.

"That's a tightening that is going to be difficult on the global economy and for which economies have to prepare," Lagarde said during an event at the World Government Summit in Dubai.

Asked how the world missed Trump's rise and the United Kingdom's vote to leave the European Union, Lagarde described a creeping, "insidious" push toward anti-globalization and protectionist thought.

"We have been saying globalization is great, international trade is great — and it is," she said. "But we have not looked at those who were badly, negatively impacted."

She blamed those negative impacts in part on the rise of robots taking jobs, as well as the shrinking gains of the global middle class.

Lagarde cautiously sidestepped questions on her thoughts about Trump being in the White House by saying "this is really a work in progress — there's been of announcements, a lot of tweets, a lot of things being said."

(Newsmax wires services the Associated Press, Bloomberg and Reuters contributed to this report).

© 2017 Newsmax Finance. All rights reserved.

 
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Jack Ma, the CEO of Chinese e-commerce giant Alibaba, has issued a cryptic warning about protectionist stances on trade.
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Wednesday, 15 Feb 2017 12:55 PM
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