Monday, 11 November, 2019

Alibaba's Ma says 1m USA jobs pledge thwarted by trade row

A container ship sails past the skyline of Qingdao in China’s Shandong Province on Sept. 13 A container ship sails past the skyline of Qingdao in China’s Shandong Province on Sept. 13
Russell Knight | 23 September, 2018, 07:25

Trump has cautioned the world's second-largest economy to think twice before engaging in a trade war in which, he claims, the USA has "more bullets".

US companies have long complained that China can make it hard for them to access its massive market and sometimes doesn't play fair under global trade rules.

About 10 percent of Walmart's sales previous year was linked to China.

Amid the escalating tensions, China has reportedly canceled a mid-level delegation visit to Washington next week, that was supposed to pave the way for further trade negotiations with President Xi's top economic adviser and vice-premier Liu He, the Wall Street Journal reported, citing sources. "The global economic and trade environment has experienced significant changes which inevitably affect the Chinese economy - we are exploring further policies to bring out further cut in taxes and fees".

It was a promise made in January of 2017 during a meeting with newly elected President Donald Trump. "The situation now has completely destroyed our premise, so it can no longer be completed".

Tiger Woods is Putting on a Clinic at the Tour Championship
Woods last shared the 36-hole lead at the Wyndham Championship in 2015. "You've just got to hit and hope". Finau made three bogeys on the back nine for a 71, ending his streak of 16 consecutive rounds in the 60s.

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Meanwhile, a new terminal is scheduled to open next year at Abu Dhabi International Airport, where Etihad is based. Rumours about a potential merger between the two carriers have been circulation for a few years now.

Hundreds queue as Tesco opens first Jack's discount stores
And he played down Jack's' financial significance to the group: "It's not a calculation that we're now doing", he said. The German duo have eaten up their market share by offering products at knock down prices.

Yet, despite Beijing's willingness to negotiate some kind of a deal to stop the escalation of the trade war, the White House is trying to coerce their partner into submission.

On Thursday, Ma said weakness in the economic outlook is "problematic" for the company.

Trump's biggest strike yet in a growing trade fight between the world's biggest economies will see a 10 percent duty applied to $200 billion of Chinese imports on Monday, which could rise to 25 percent next year.

Ma's statement comes on the heels of the Trump administration imposing tariffs on $200 billion worth of imports from China and the Chinese reacting with tariffs on about $60 billion worth of US goods.

"Short term, business communities in China, U.S., Europe will all be in trouble", Ma said on Tuesday, during a speech at Alibaba's investor day in Hangzhou. "If you want a short-term solution, there is no solution".

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