bendog
Diamond Member
identified. The problem is that globalization allowed US companies to make the money in the first place. So tariffs are not really the answer, and Trump would be in the dump if other countries limited his trade.
"IBM, Microsoft," he added, "the profit they made was larger than the top four banks in China put together ... But where did the money go?"
Ma said that 30 years ago the American companies that people in China heard about were Ford and Boeing. Today the companies that people in China talk about are in Silicon Valley and on Wall Street.
At the same time, the US spent a lot of money on foreign conflicts. "In the past 30 years, America had 13 wars spending $2 trillion ... no matter how good your strategy is you're supposed to spend money on your own people," Ma said. "The money goes to Wall Street. Then what happened? Year 2008 wiped out $19.2 trillion in US income ... What if the money was spent on the Midwest of the United States?"
"The other countries steal jobs from you guys — that is your strategy. You did not distribute the money in the proper way."
Alibaba founder Jack Ma has a brutal theory of how America went wrong over the past 30 years
"IBM, Microsoft," he added, "the profit they made was larger than the top four banks in China put together ... But where did the money go?"
Ma said that 30 years ago the American companies that people in China heard about were Ford and Boeing. Today the companies that people in China talk about are in Silicon Valley and on Wall Street.
At the same time, the US spent a lot of money on foreign conflicts. "In the past 30 years, America had 13 wars spending $2 trillion ... no matter how good your strategy is you're supposed to spend money on your own people," Ma said. "The money goes to Wall Street. Then what happened? Year 2008 wiped out $19.2 trillion in US income ... What if the money was spent on the Midwest of the United States?"
"The other countries steal jobs from you guys — that is your strategy. You did not distribute the money in the proper way."
Alibaba founder Jack Ma has a brutal theory of how America went wrong over the past 30 years
