The business war is the stupidest thing in the world

Jack Ma, president of the Chinese group Alibaba, described the trade war between China and the United States as the stupidest thing in the world and pointed out that technology would solve the problem of the trade deficit over the next two decades.

The Sino-US trade war is "the stupidest thing in the world," said the group's chairman, at the Shanghai World Expo in Shanghai.

"Today 's day is very important for China and the world because China is no longer an exporter but an importer".

The transformation of China into an import model – and that of Jack Ma "will be a source of great pain for many companies but will also be a good opportunity for many consumers."

Chinese industry no longer offers jobs, according to the Chinese official, but the service sector does.

"There will be no trade deficit over the next 20 years because of technology," said Jack Ma.

He added that the United States' trade deficit with his country – which President Donald Trump attributed to a series of economic problems – had helped to create jobs in the United States and that the country was facing serious problems.

"Citizens do not like the WTO and trade because trade agreements were not complete in the past, but that will change with technology," Ma Ma said.

Jack Ma is a former English teacher described as a "real me" and ranks 19th among the richest in the world, according to Bloomberg, and has an estimated budget of $ 40 billion.

In 1999, the Chinese billionaire created the AliBaba.com e-commerce website, with a capital of $ 60,000, bringing the market value of the company to more than $ 400 billion.