In the new “Cold War”
between the U.S. and China, the U.S. seems to be winning so far—the dollar is booming while the renminbi is sinking, and the Americans have a lot more Chinese imports they can penalize with tariffs than China does American imports.
However, according to Jack Ma—the founder and outgoing executive chairman of Chinese tech titan Alibaba—it’s the U.S. that will end up losing out. Speaking at the South China Morning Post
‘s China Conference in Kuala Lumpur, Ma said
the U.S. would “suffer more” and there was no logic behind the U.S.’s mass deployment of tariffs as a solution to the countries’ trade imbalance.
Alibaba executive vice-president Joe Tsai also spoke, saying the U.S. was reacting to its “unfounded fear that China’s rise is somehow going to threaten the national security and well-being of the American people.”…
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