China’s Alibaba doubles down on chips amid cloud computing push

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China’s Alibaba doubles down on chips amid cloud computing push

According to a transcribed version of the interview posted to CNBC, Ma is backing away from a promise he made to President Donald Trump in the days before Trump took office in January 2017 that he would create 1 million jobs in the United States.

Alibaba Chairman Jack Ma said Wednesday that the Chinese e-commerce giant had canceled plans to create 1 million jobs in the US, blaming the ongoing trade war for the decision, according to Chinese news agency Xinhua.

Ma noted that Alibaba will continue "working hard to contribute to the healthy development of China-U.S. trade". -China trade becoming increasingly contentious, the promise can not be fulfilled.

"The U.S. like competition, China likes harmony, they're two different cultures", Ma said at an investor conference in Shanghai on Tuesday.

Alibaba can no longer meet that promise, Ma told Chinese news agency Xinhua on Wednesday.

Alibaba's original promise was predicated on the idea that by giving United States small businesses more access to the Chinese market through Alibaba, the platform could help job growth in America. "There is no way to deliver the promise".

China's king of tech entrepreneurship, Alibaba founder Jack Ma, has been vocal about the importance of shedding dependence on U.S. technology in the current political atmosphere. -China cooperation and bilateral trade relations that were reasonable, but the ongoing situation destroyed that. China had threatened to retaliate with "synchronised counter measures" against Trump's third round of tariffs, saying the US' move will add "new uncertainties" for future talks between the world's top two economies.

But yesterday he said: "The trade in the world really needs to be perfected, but trade is not a weapon, it can not be used for war, it should be a propeller for peace".

Cross-border shopping offered a promising area of growth for online retailers, with Alibaba stepping in to provide the knowledge and tools necessary to make it relatively simple. In China, American food and products have a very high reputation. Next year, Alibaba is planning to launch its first self-developed AI chip to support a cloud-based IoT infrastructure. Just over eighteen months down the line, Trump and his protectionist trade practices seem to have ruined these prospects for small businesses, such as farmers and small clothing makers, who could have tapped the Chinese market.

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