Slashdot Mirror
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.
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
"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.
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!
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.
"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.
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).
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Yet another nail in Hong Kong's independence coffin.
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).
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!
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).
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
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.
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
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