Todd Bishop
Ma Yun, co-founder and former chairman of China’s Alibaba Group, said on November 14 that if the two major powers of China and the United States do not seriously deal with trade issues, China-US relations may face a “turbulent” situation for 20 years.
According to a report by Bloomberg on November 14, Ma Yun said in an interview with Bloomberg TV on the 14th that it must be treated very, very seriously, and solve problems. It should not create more problems.
Ma Yun said that although the comprehensive trade war may not last as long, the relationship between the two countries may be in turmoil in the next 20 years.
Ma Yun emphasized the importance of China and the United States working together and sharing technology.
The China-US trade dispute that has lasted more than a year and a half has caused more than 70% of bilateral trade in goods to be involved. If the two countries fail to resolve at least some of the differences in the next few weeks, the White House will impose a 15% punitive tariff on Chinese imports worth US$160 billion on December 15.
At present, China-US trade negotiations are still deadlocked on whether to abolish tariffs and the extent of the issue. The US “Wall Street Journal” reported on November 13 that people familiar with the matter said that China-US trade negotiations are still deadlocked. The US is trying to win more concessions on China on various issues, but Beijing refuses to ask the US and is not willing to commit to it. Specific purchases of US agricultural products.
A former US trade official said that Chinese officials have delayed their commitment to the US until they ensure that the Donald Trump government will cancel the tariffs already implemented in the first phase of the agreement.
The US side insisted that China should first meet the requirements of the US. US Trade Representative Robert Lighthizer stressed that unless Beijing’s demands on the United States show flexibility, they are reluctant to revoke existing tariffs on Chinese imports.
