Chinese billionaire and founder of Alibaba Jack Ma just got brutally honest with what he thinks about the U.S.
When asked about his thoughts on globalization and Donald Trump being the new U.S. president, Ma’s answers were unfiltered.
During the World Economic Forum on Wednesday in Davos, Switzerland, Ma said that the United States made a terrible mistake by spending so much money on war and Wall Street. Back in the glory days, the United States was able to make millions of dollars through globalization, he said.
Ma even reminisced when he was just earning $10 a month and could not afford to buy a beeper which was worth $250 that time, according to CNBC.
But today, with the United State’s standing in contrast to the rest of the world, Ma can’t help but feel that America has failed its people and failed with their strategy.
“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 U.S. income … What if the money was spent on the Midwest of the United States?”
According to CNBC, when it comes to China’s and other country’s supposed theft of U.S. jobs, Ma said that America’s weakened economy is because “they did not distribute money the proper way.”
Additionally, Ma pointed out that too much of money in the U.S. today goes to Wall Street and Silicon Valley, which should not be the case he said. Instead of focusing on just one area, Ma suggested that the country should help the Midwest and people who are “not good at schooling” like him. He also emphasized that globalization should be inclusive and benefit all classes and not just the wealthy few.
“As a business person, I want the world to share the prosperity together,” he said.
Image via Flickr / World Economic Forum