Chinese Billionaire Says US Wasted $14 Trillion On War In Last 30 Years

January 21, 2017 Baxter Dmitry News, US 2

Jack Ma says the US has no one but itself to blame for its economic woes, and the problem is rooted in $14 trillion wasted on war.

Jack Ma, the billionaire founder of Alibaba — the Chinese company that surpassed Wal-Mart as the world’s largest retailer in 2016 — said the United States wasted $14 trillion dollars wasted on warfare in the last 30 years, money that should have been spent on domestic infrastructure and programs for the people instead.

During an interview at the World Economic Forum in Davos, Switzerland, CNBC’s Andrew Ross Sorkin asked Ma about his thoughts on the American economy and how it relates to China. President Trump’s stance has been anti-China — accusing the Asian superpower of siphoning U.S. jobs — but the Chinese billionaire begged to differ.

“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, adding, “You’re supposed to spend money on your own people.”

Antimedia report: On the issue of military spending, the Chinese billionaire claimed the U.S. has wasted over $14 trillion on warfare over the past three decades — money that, again, could’ve been invested in domestic infrastructure and programs for the American populace.

In welcoming China’s president to the stage at Davos on Wednesday, WEF founder and chairman Klaus Schwab stated, “In a world marked by great uncertainty and volatility the world is looking to China.”

Alibaba’s Jack Ma, in speaking to CNBC, seemed to echo this sentiment — that’s it’s China and the system of economic free markets that will blaze the path into the future:

“The world needs new leadership, but the new leadership is about working together. As a business person, I want the world to share the prosperity together.”

Baxter Dmitry

Baxter Dmitry

Baxter Dmitry is a writer at Your News Wire. He covers politics, business and entertainment. Speaking truth to power since he learned to talk, Baxter has travelled in over 80 countries and won arguments in every single one. Live without fear.
Email: baxter@yournewswire.com
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Baxter Dmitry

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