Alibaba Executive Chairman Jack Ma told businesses that the country’s trade war with Washington will not be over anytime soon, and that they must be prepared, Bloomberg reports.
Speaking at an Alibaba investor day meeting in Hangzhou, Ma said the conflict could last up to 20 years, with the economic fallout being larger than expected.
“Short term, business communities in China, US, Europe will all be in trouble,” said Ma. “This thing will last long. If you want a short-term solution, there is not a solution.”
“We should not focus on this quarter or next quarter or next year’s profit. This is a huge opportunity,” he added, hinting at the company’s slowly sliding stock value. “If Alibaba cannot sustain and grow, no company in China can grow. I’m 100% confident in that.”
Ma went on to recommend that China look elsewhere for business if the US continues to ramp up the pressure with tariffs.
“When problems come, learn how to hide, learn how to train,” he said. “I believe Daniel [Zhang, Alibaba CEO] and his team will have the wisdom to fight for the future.”
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