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Alibaba’s Jack Ma says U.S. financial woes are not a result of a rising China, but of poor investments in warfare.
According to CNBC, at the World Economic Forum in Davos, Switzerland, Jack Ma, the billionaire founder of Alibaba said that the current U.S. financial woes are due to the country wasting millions on warfare.When asked by CNBC’s Andrew Ross Sorkin about the U.S. economy in relation to China, Ma replied that it was incorrect to view any U.S. economic issues as a result of a rising China.“It’s not that other countries steal jobs from you guys,” Ma said. “It’s your strategy. Distribute the money and things in a proper way.”
Ma said that instead of investing in infrastructure, the U.S. wasted over $14 trillion on warfare over the last 30 years. More, he says outsourcing to countries like China is a “wonderful” and “perfect” strategy.
“The American multinational companies made millions and millions of dollars from globalization,” Ma said. “The past 30 years, IBM, Cisco, Microsoft, they’ve made tens of millions — the profits they’ve made are much more than the four Chinese banks put together. … But where did the money go? ”
Ma says the U.S. isn’t distributing or investing the money well. Too much money goes to Wall Street and Silicon Valley instead of the Midwest and less fortunate Americans. Ma says globalization is good, but it “should be inclusive.” The money should not go to just the wealthy.
“The world needs new leadership, but the new leadership is about working together,” Ma said. “As a business person, I want the world to share the prosperity together.”
Read the full story here.
Britain/America spent decades drawing China into the monopoly game.
Global capitalism can’t work without all countries being involved. Otherwise it wouldn’t be global capitalism. So no China isn’t responsible for American poverty, America is, its government chooses how it spends its money.
But the America dream is built on the worship of money and the eugenics programme, that incorporates the ideology, the survival of the fittest.
I still maintain that the recent wars in the Arab world were designed to get those opposed to Western capitalism into the game. War itself generates its own capital, through the sale of weapons of course.
Why entice China away from any socialist principles it may have by quoting an evil industrialist like Mr Ma?
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