News: Can't create 1 Mn jobs as promised: Jack Ma

#Jobs

Can't create 1 Mn jobs as promised: Jack Ma

Jack Ma will not be able to fulfill his promise of creating one million jobs in the United States amid the tension between China and the United States
Can't create 1 Mn jobs as promised: Jack Ma

Chairman of Alibaba, Jack Ma will not be able to fulfill his promise of creating one million jobs in the United States amid the tension between China and the United States, reported Chinese news agency Xinhua.   

The Chinese entrepreneur has warned this that the trade war between both the countries could last decades and China should focus exports on the “Silk Road” trade route, citing Africa, Southeast Asia, and Europe. 

In January 2017, Jack Ma discussed with US President, Donald Trump that he is planning to bring one million small US businesses onto its e-commerce platform to sell to Chinese consumers over the next five years.

“This commitment is based on friendly China-US cooperation and the rational and objective premise of bilateral trade,” Ma said to the news agency. Jack Ma has mentioned that he wanted to encourage small businesses in America and encourage these businesses to sell on Alibaba marketplace. 

The entire business scenario changed after US President, Donald Trump, imposed 10 percent tariffs on about $200 billion worth of imports from China and threatened duties on about $267 billion more if China retaliated.

China responded with tariffs on about $60 billion worth of US goods as planned, but reduced the level of tariffs it will collect on the products.

It can also be recalled that Jack Ma has announced Daniel Zhang as his successor for the company.  The Chinese entrepreneur will retire from his position of Executive Chairman next year and hand over the reins to current CEO Daniel Zhang.

Topics: Jobs, Outsourcing

Did you find this story helpful?

Author

QUICK POLL

Do you think India Inc. has been successful in empowering its women workforce?

On News Stands Now
q_auto,f_auto/v1554872649/mag-april-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

How will HR practitioners looking to stay ahead of the curve evolve their performance management strategies in 2019? What performance management trends can we see organizations adopting for a workforce that comprises of a mix of regular employees and gig workers? This issue attempts to decipher the shift and answer questions facing the HR community trying to implement the real-time feedback system.

Subscribe
And Save 59%

Subscribe now