Tags: Trump Administration | mark cuban | trump | alibaba | impact | us

Mark Cuban Asks Trump If He Knows About Alibaba's Impact on US

Mark Cuban Asks Trump If He Knows About Alibaba's Impact on US
Alibaba's Jack Ma (Dreamstime)

Wednesday, 22 November 2017 12:19 PM

Billionaire investor and Trump gadfly Mark Cuban tweeted at the president Wednesday asking if knew how big of an impact a single Chinese company has had on the U.S. stock market.

Cuban asked Trump if he realized that “5 percent of the increase in stock market value ($250 billion), and 7.5 times our monthly trade deficit with China has gone to one Chinese company.”

The tweet included a link to a blog post about e-commerce giant Alibaba Group Holding Ltd. Alibaba’s U.S.-listed shares have almost tripled to $190.23 a share for a market valuation of $487 billion since its initial public offering in September 2014, which was the biggest in U.S. history.

Trump has long targeted China, decrying the U.S.’s trade deficit with the country and framing the relationship as a global rivalry the U.S. is losing. That stance seemed to soften during Trump’s visit last week to China, where he praised President Xi Jinping and said he didn’t blame the Chinese leader for taking advantage of bad policy from previous U.S. presidents.

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Billionaire investor and Trump gadfly Mark Cuban tweeted at the president Wednesday asking if knew how big of an impact a single Chinese company has had on the U.S. stock market.
mark cuban, trump, alibaba, impact, us
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2017-19-22
Wednesday, 22 November 2017 12:19 PM
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