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Alibaba's Jack Ma Backs Down From Promise To Trump To Bring 1 Million Jobs to the US (cnbc.com)
Jack Ma, chairman of Alibaba, has abandoned a promise to create one million new jobs in the US, in a sign of the threat that rising trade tensions with China pose to some of US President Donald Trump's key economic goals. From a report: "The promise was made on the premise of friendly US-China partnership and rational trade relations," Ma told Chinese news site Xinhua on Wednesday. "That premise no longer exists today, so our promise cannot be fulfilled." Ma, who recently announced that he will step down as Alibaba chairman within a year, added that the company would "not stop working hard to contribute to the healthy development of China-US trade." Ma's comments come on the heels of a new round of tariffs this week from both China and the U.S. that will affect billions of dollars worth of goods as the two countries have failed to reach a deal to resolve the Trump administration's concerns about China's trade practices.
My billions are secure though.
He was never able to create 1 million US jobs. Whatever reason he gives for "abandoning the promise" is irrelevant.
What was the last high-profile promise you can remember actually being fulfilled?
Populus vult decipi, ergo decipiatur...
"Force shits upon Reason's back." - Poor Richard's Almanac
He keeps firing from the hip and falling short.
"That premise no longer exists today, so our promise cannot be fulfilled."
I have a hunch that the USA no longer has that clout it once had. Countries are now openly willing to defy the USA.
Some countries are already trying to kill the dollar
let me hope our president will change course, though I have no doubt that some folks will hope that he doubles down.
Align yourself with Big Giant Orange Head and watch everything go off the rails. Who could have seen it coming?
So much winning.
Wow, the promise of 1 million jobs selling cheap consumer products. Now that's a recipe for a healthy economy.
Alibaba and the 40 thieves had a job for them: to steal and to protect the treasures.
Now, they did lose the job.
elections.
I've always found it interesting that the same Americans who aggressively oppose socialism, do not bother questioning how their choice presidential candidate is going to "create jobs". I know it isn't as simple as signing an executive order named "Jobs", but it still feels inorganic for capitalism.
I'm not a fan of one system or another. Just pointing that out.
Making more things here makes *more* sense with the tariffs in place than without, since companies would not be paying tariffs on things built here... so there's something else at work.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Slashdot economics experts: China has been bullying other countries economically for decades and unfairly favoring its own companies. We have to do something about it before its too late. The longer we wait the more painful it will be. After Trump ........
Slashdot economics experts: WAAA Trump did something China didn't like and they gave me a booboo. Waaa we must never offend china to keep cheap chinese goods forever!
A real math problem here
The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
There was a documentation about usa in european tv, which I watched. Terrible news about infrastructure but the news about crystal meth and drug abuse was VERY worrying. A generation could break away about and their childs/children are not on a happy way. Somebody from another country promises jobs??? Trump does that aswell, it`s worriying.
This sounds like a retaliation against Trump's recent announcement of new tariffs on Chinese products.
"You hit us, we hit back twice as hard."
Keep your mongoloid jobs. The sooner all these 'gig economy' shitheads die the better.
We need more automation, less minorities. Companies should be taxed on what they provide to humanity:
- Search engine: provides worthless trash, distraction and employs ugly trannies and faggots
Tax level: 2000%
- Farmer: provides food
Tax level: 0%
the president has been the one at the wheel for the entire losing of US clout. He says it's the best wheeling anyone has ever done while going down the best course in the history of course making.
I somehow doubt that changing course is on the helmsman's mind.
I have a hunch that the USA no longer has that clout it once had.
Do you guess completely backwards very often?
Countries are now openly willing to defy the USA.
Since when have they not? The difference now is that the U.S. actually pushes back.
The U.S. is having vastly more effect now and responses from other countries, than it ever did under Obama.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
"That premise no longer exists today, so our promise cannot be fulfilled."
I have a hunch that the USA no longer has that clout it once had. Countries are now openly willing to defy the USA.
Some countries are already trying to kill the dollar
let me hope our president will change course, though I have no doubt that some folks will hope that he doubles down.
The US had plenty of clout, backed by a network of friends and allies that was unique in human history, and potentially still is mostly salvageable. That network of allies has always been the USA's strength because everybody knew that whatever the Americans got up to they'd always be better of with those occasionally crazy Yanks than the Soviets/Russians or the Chinese. The US' position would still be unassailable if Trump wasn't busy throwing away that clout and methodically disassembling the network of friends and allies. There is a whole slew of Asian countries now cozying up to China but not necessarily because they want to. With the Trump administration adopting a policy of insulting everybody and isolating the US, they have no choice but to cozy up to China. Most of them would much prefer the US, it usually offer a better deal and, (key point here) the USA is a distant hegemon, far across the ocean. You can't drive American tanks to Asia from the continental US and amphibious operations are very expensive and hard to do right. You can, however, easily drive Chinese tanks from bases in China to most of these Asian countries and they are only too keenly aware of it. Most of them have watched China claim the south China sea to the extent that you can stand on a beach at the water's edge in some of the countries in the region and send a golden arc of piss into what China regards as its sacred territorial waters.
The really sad thing is that you did this to yourselves and you have been doing it for at least the last 15-20 years.
You've been running the US in the same as you've been running your corporations - only thinking about the next quarter and doing very little investment for the longer term.
Unfortunately, what is happening to the US now is also what happens to corporations run in this way - you rot from within while running on inertia for a time (which maintains the illusion that everything is running ok - at least for a short time).
Unfortunately there reaches a point with those corporations when you run out of inertia and everything collapses and this is exactly what is happening to the US.
I feel sorry for you because when enough of you finally realise this it is very likely to be too late.
He never had any chance of fulfilling that promise, so why not make a cheap jab at Trump.
( Wal-Mart employs around 1.4-1.5 million. )
Yeah, the know-it-alls are really the problem, eh?
You settled for a GED thinking you could work down at the steel mill for 30 years like your dad did.
But it's easier to blame other people than fess up to your own short sightedness.
And ordinary people didn't elect Trump, he lost the popular vote. I suspect you actually knew that despite your act to sort of reverse virtual signal, trying to play the ordinary working stiff.
You lot are real big on the Personal Responsibility thing, as long as it's not you personally who's having his feet held to the fire over why he is where he is today.
The smug know-it-all cunt is the guy you see in the mirror every morning when you brush your teeth. Except he really doesn't know it all.
Unfortunately, this is happening, because corporation run the US.
You have very rosy colored glasses.
For hundreds of year the Gold Standard (and by default the British Pound) were the standard for international Trade, simply because the Pound was backed by the gold reserves.
There was no US dollar from the Federal Reserve until 1913.
During WWII, the USA demanded payment from the UK etc in Gold, so by default the US ended up with the majority of Gold Reserves. It was in the 1950's when world trade was again taking off that the US$ became the standard (because of the gold they had). At this stage the USA also accounted for over 60% of the entire worlds GDP.
Today the USA accounts for about 19% of the worlds GDP (and falling), not because the USA failed, but because the rest of the world succeeded , it had rebuilt from WWII (something the US did not have to do). The USA is only 4% of the worlds population, so all other things being equal the USA could fall to 4% of the worlds GDP.
The rest of the world is starting to see the USA as a bully and wants the world to shift away from the USA and it politics dominating their countries and economies.
The Euro is a good example of this, though more needs to be done to equalise and stabilise the individual countries within the federation.
It is likely that China (if not already) will become the worlds biggest economy shortly, Trump is only accelerating this as other countries also believe the need to reduce dependance on the USA and are actively seeking trade agreements with each other, and in particular the Asian economies (which account for over 60% of the worlds population).
Trump said "Trade wards are easy to win", this also means "Trade wars are easy to loose" , Trump lacks any real understanding of world economics, international trade, all indications are people who have to deal with him believe he is an idiot. He is souring international relationships on an almost daily basis. This means he is far more likely to loose the war than win it. Shouting " USA USA USA" will not change this, and the cracks and failures in Welfare, Education, Health, Freedom of Speech, Freedom of the Press, democracy, , etc etc are growing wider in the USA (go search for USA world rankings on these measures).
The USA leads the worlds spending on the military , and seems to frequently use it, not so much to protect US citizens but to protect US corporate interests (Oil, etc). Perception is everything, and the worlds perception of the USA is falling .
You have very rosy colored glasses.
Very rosy colored glasses. what you need to see Trump as a stable genius, friend of the common man, master negotiator, keen political mind and greatest American of all time. I think I made it quite clear that I consider him a bumbling idiot, and that's me putting it kindly.
the manufacturing jobs aren't coming back. Even if the factories do they'll have so much automation they're never going to employ the kinds of numbers they used to. There's multiple studies showing this. We've doubled our manufacturing output in the last 40 years while cutting our workforce by 1/3 ( source).
Thing is this is why Hilary didn't think it was much of an issue in the campaign. She's trapped in an iron bubble and she thought people would be reasonable about manufacturing jobs and just accept they're not coming back. Of course, if she wasn't such an arrogant **** (substitute your own curse word kiddies) she'd have offered up a solution to the jobs problem besides "Hey, I went to a posh college and graduated with honors, so can everybody else". Trump for his part saw millions of ex factory workers being ignored (well, Paul Manafort did, he's the one that told Trump to campaign in the rust belt on jobs).
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"a bumbling idiot, and that's me "
High,
"the ordinary working stiff." here.
People like you and the previous AC if not you, are the reason trump got elected.
Also, I have not only gotten a larger yearly salary at the company I work for, I now get bonus's and have a retirement plan that my company pays into for me.
I cant say hes done such a shit job so far.
Yet another nail in Hong Kong's independence coffin.
Some pissant CEO from a foreign country doesn't get to break a deal with the US, ban his company from doing business in the US until he makes good.
The world's governments had Trump figured out by the time he took the office. He's an idiot. Luckily for the US, or unluckily if you're an Alex Jones QAnon deepstate CHEMTRAILSANDALIENS!!!! type, we're a Republic and a bunch of nested governments with separation of powers etc. I'll bet there was a real worry among the DC imperial insiders of both parties that Trump was going to weld the Executive Branch as a wing of Breitbart and go efficiently white nationalist. But then he got into a fight about the size of the crowds and they all thought "This guy really is an idiot" and went about doing their thing knowing that Trump's staff would keep him in fresh diapers.
If there really was a danger of a realer trade war we'd see the Chinese and the EU banks starting to divest Treasuries and parking the money in probably German and Japanese banks. We're not seeing that, just more diaper flinging.
Consider US products, with parts made in China exported to EU. Every sold has TWO SETS of sanctions on it: the sanctions Trump puts on Chinese goods, the retaliation sanctions EU puts on US goods.
Or the US company could simply move it all to China (or Mexico), and it would have NONE of those sanctions.
Republicans are busy inflating the economy with tax cuts and more borrowing, and that really needs MORE exports to prop it up, not less. He's not even coordinating with the GOP, let alone coordinating between his various sanctions regimes.
Things have changed quite a bit. Countries followed the US because #1, they were the most powerful and had the most amount of money, and #2 because they had somewhat some moral standing as a leader. #1 is slowly being chipped away, and #2 has been thrown out of the window, as the US escapades in the Middle East and elsewhere has caused nothing but trouble for the European nations, who have to contend now with huge amount of migrants from destabilized Africa and Middle East.
Now the US pretty much just rules by fear and threats. The worst type of hegemon.
BTW. I don't think those oceans stopped US tanks pretty much anywhere, considering that US has the strongest navy in the world, and military bases almost everywhere.
It will be an excellent day when America gets kicked off the world stage. At last, we will be able to ignore the haters and start concentrating on ourselves again. Our people are hurting, badly. Our soldiers are sent off to die on insane missions aiding countries who hate us. Our wealth is exported and our workers abandoned. We commit war crimes on a regular basis.
Remember that time Obama bombed the Doctors Without Borders hospital? It was the only time in history one Nobel Peace Prize winner bombed another Nobel Peace Prize winner. He then gunned down the fleeing doctors and patients. This is a war crime under the Nuremberg principles that got all those Nazis hanged. And America just declared defiance of the International Criminal Court, where Obama needs to be standing to answer for his crimes.
America has set the world back hundreds of years socially and technologically. America is the greatest threat to the planet. The day that America falls will be declared a global holiday.
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
And when the recession comes, and you get laid off, what then? Tariffs just lead to layoffs inevitably. The only thing propping up this entire shitshow is the tax cuts and stock buybacks. Couple more interest rate raises and things are going to start crumbling (like nearly every recession for the last century).
Yes, and stop using up all our CO2 quota.
China's been trying to kill the dollar for almost a decade now. It hasn't been working, because no matter how strained US/EU or US/OPEC relations get, everyone knows the US doesn't use the dollar's bully power and China would if the yuan replaced it.
And Russia... isn't a big economic player.
Your ad here. Ask me how!
You know China is bigger right...
Our wealth is exported
You have a massive trade deficit and are also trillions of dollars in debt to foreign countries...
You are suckling on the teat of other peoples hard work, and now you are complaining about it too?
It is likely that China (if not already) will become the worlds biggest economy shortly, Trump is only accelerating this as other countries also believe the need to reduce dependance on the USA and are actively seeking trade agreements with each other, and in particular the Asian economies (which account for over 60% of the worlds population).
The one thing that crosses many people's mind is "Why is Trump doing the thing he is doing?", especially regarding China.
Say all you want about Trump - the one thing about Trump is he ain't dumb.
He is going *FULL BLAST* at China (short of a nuclear exchange) right now because Trump knows this is the very last chance US has to bluff its ways against its nemesis.
Ronald Reagan was the last POTUS who deployed the bluffing game and successfully defeated its nemesis at the time, the Soviet Union - it was the 'Star War' ploy that forced the SU to empty its national coffer trying to play a catch-up game with USA on star-war gadgets (which Ronald Reagan knew even USA wasn't able to get it working).
Trump's all out trade war against China is his last ditch effort to stop China from becoming the next world superpower - or at least, slows China's progress to a crawl.
Trump knows all too well that if he does not do it in 2018, he and USA ain't gonna have a second go for it.
Trump may not be re-elected in 2020, and even if he is, by the 2020's China will have more power (technological, as well as financial) to play with.
Even if China couldn't achieve get its "Made in China 2025" in full bloom by 2025, it would have much more power, by then, then China is having today.
2030 is only 12 years off, and by the 2030's, China would have surpassed USA on some technological fronts, and Japan by then, would no longer have the guts to pick fight against China no more.
By the 2040's America would see its own influence dwarfed by that of China, and all the so-called 'allies' would have abandoned us.
By 2050's UK would become a third world country, and the Germans would be speaking Arabic, and Australia would have been taken over by Indonesia.
Without UK, Japan and Germany the United States can no longer do what it is doing now.
In other words, if Trump doesn't do what he is doing now, against China, USA will have forever lost its chance, to defeat China.
Come on, Jack The Horse Ma, who's going to believe your offer of one million jobs in the first place? Your Ma pi! Rational trade is defined as: the US buys ¥6.85 renminbi of goods from the Chinese Peoples Republic, the Chinese Peoples Republic buys one Yankee dollar's worth of goods from the US. That hasn't happened in 40 years at a "rational" exchange rate.
I'm non union, I don't worry about layoffs. I think its happened once in my entire career.
A great example of this is what happened with TPP. When the US pulled out the other countries decided to continue on their own with CPTPP, basically the same thing but without the US. They dropped all the stuff that the US wanted by they didn't of course.
So now they have this huge trade deal with 11 countries and the US is trying to do individual deals with each of them. Of course they don't want to do individual deals, the whole point of doing a collective one was that no single country could make demands without broader agreement. And of course, that's why Trump didn't like it, he thought he could do better individual deals and force countries to agree to them.
What has actually happened is that the CPTPP signatories are just stalling with the US, waiting for Trump to go away. Japan doesn't want to lower automotive standards to allow more US cars to be sold there, and doesn't want to lower food standards to allow US meat products to be sold (like the EU they don't allow chlorine washing for example).
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SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
> US had plenty of clout, backedup by a network of friends and allies....
The above is just a wrong. US in the last 30 years or so, completely lost being the 'Moral compass of democracy' , if such is even existed.
Instead, it created a network of 'pay-to-play' political mafia with prominent crime families running the 'Charities and foundations', as front-end to money laundering schemes.
US actively engaged in meddling in other countries elections (eg Israel's), destroyed regimes in the middle east that gave way to Isis, and supported actively Iran in its bids to continue destabilizing the region.
I think US especially in the last 8-10 years, created a complete distrust for its media, its human rights stands, and it s overall 'cleanliness' in the eyes of the rest of the world.
I do not think any half-decently informed person in the middle east, far east, or eastern Europe -- thought of US (or UK) -- as anything better than their own corrupt and unfair political establishment.
hurr durr. no wonder you worship at the feet of donald jesus trump
So now they have this huge trade deal with 11 countries and the US is trying to do individual deals with each of them.
the morons who are governing america aren't even doing that, they've are so incompetent that they haven't even gotten around to negotiating with most of those countries.
China is soon going to eclipse USA , first economically, then militarily (one follows the other).
Already USA is behind China in terms of GDP: $18.5T for USA vs $23.1T for China.
If Trump wants to kill trade between USA and China, then there's a whole up-and-coming middle/consumer-class in Asia that is ready to take up the slack. India alone has become an $10T+ economy.
However, whatever steps taken should be done with actual planning by competent people that understands the complexities. Trump's administration clearly hire the dumbest and most unqualified grifters.
That applies to every single issue that trump has glommed on to. His schtick is to say "You hate foo? I hate foo too!! You should support me!" But foo is always secondary to his grifting. At best he neglects foo because it doesn't make him richer, but when foo becomes an obstacle to him, he abandons it.
Consequently everybody who thought they would get their issues addressed is actually getting fucked. If you cared about NSA spying on innocent people, the end result of trump's war on spies is going to be increased support for spies as the fact that they actually caught him and his crew conspiring with foreign countries. If you were a steel worker, you won't get jackshit because the steele corps are keeping all the profits for themselves. If you wanted better healthcare, all you are getting is more sabotage. If you were a democrat who didn't like how Comey treated Clinton, he tried to co-opt you into supporting his firing of Comey. If you wanted more racism, trump's going to fire his most effective racist because sessions won't do enough to protect trump from a criminal investigation.
ET4S: Everything Trump Touches Turns To Shit.
Mr. Ma has found a convenient way out of his promise he knew he'd never be able to keep. If it wasn't an excuse on trade relations, it would be the sky is too blue or the sun is orbiting in too predictable of an orbit.
ma was going to open up alibaba to third-party american sellers - how are these "jobs"? like these people can't sell on amazon, wal-mart, newegg, buy.com, ebay, and all the other race-to-the-bottom third-party seller sites
A Chinese lied? Shocking.
His announcements will not help grow business in USA.
Very negative, however in related news INDIA has said it is happy to work with the USA and transfer jobs and products from China to India.
Friendship involves two parties, yet so many people automatically blame the US. People act like the US got out of bed one day and was like "you know, I think today I'll start being a jerk for no reason". That's tabloid-level crap. Would you want to be friends with people like that?
Like when the US told NATO to stop being a bunch of moochers and start spending the money they agreed to spend. The response? "Oh how dare you tell us to spend the money we said we'd spend!" I mean... world, are you listening to yourself?
The US' #1 strength is its populace. They produce a shit ton of wealth, and are - by world standards - very creative and innovative. The US would be fine alone, but they never will be... not as long as they're producing "the good shit".
The world's talking shit, and Trump's talking back. Of course people dont like it. Too bad, and kiss my black ass.
I love when slashdork mods down the real niggas.
Common man buys/appreciates Inexpensive and High quality products;
Countries should amend their Constitutions accordingly;
https://archive.st/archive/201...
Casteism
You have also previously said that the Texas National Guard could beat the entirety of the rest of NATO, which would mean that one member of the TNG could take on an entire regiment of, say, the French army. You're not very credible.
Says the person who obviously has no idea how tariffs work.
This comment is my opinion and does not represent an official position of Donald Trump or others I do not work for