Chinese Billionaire Says US Wasted Trillions On Wars And Wall Street

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Above Photo: “In the past 30 years, America had 13 wars spending $2 trillion,” said Alibaba founder Jack Ma. “What if the money was spent on the Midwest of the United States?” (Photo via CNBC)

Alibaba founder Jack Ma said the U.S. should stop blaming other countries for stealing jobs and, instead, invest in ‘your own people’

Speaking at the World Economic Forum in Switzerland on Wednesday, Chinese billionaire Jack Ma accused the United States of spending too much money on foreign wars and risky financial speculation and not enough money “on your own people.”

The founder of the world’s largest retailer, Alibaba, was addressing a question posed by CNBC‘s Andrew Ross Sorkin about the U.S. economy in relation to China.

In response, Ma said the U.S. should stop blaming other countries and look at its own spending priorities:

“It’s not that other countries steal jobs from you guys,” Ma said. “It’s your strategy. You did not distribute the money and things in a proper way.”

“It’s not that other countries steal jobs from you guys. It’s your strategy. You did not distribute the money and things in a proper way.”He said the U.S. has wasted over $14 trillion in fighting wars over the past 30 years rather than investing in infrastructure at home.

Ma said that when Thomas Friedman published the 2005 pro-globalization tribute The World is Flat, taking advantage of the world economy seemed like “a perfect strategy” for the U.S.

“We just want the technology, and the IP, and the brand, and we’ll leave the other jobs” to other countries like Mexico and China, he said, according to Business Insider. “American international companies made millions and millions of dollars from globalization.”

“The past 30 years, IBM, Cisco, Microsoft, they’ve made tens of millions—the profits they’ve made are much more than the four Chinese banks put together,” he continued. “But where did the money go?”

“The money goes to Wall Street. Then what happened? Year 2008 wiped out $19.2 trillion in U.S. income,” he said. What’s more, he added, “In the past 30 years, America had 13 wars spending $14.2 trillion…no matter how good your strategy is you’re supposed to spend money on your own people.”

“What if the money was spent on the Midwest of the United States?” he asked. “What if they had spent part of that money on building up their infrastructure, helping white-collar and blue-collar workers? You’re supposed to spend money on your own people.”

While he did emphasize that globalization is a good thing, according to CNBC, Ma reportedly noted that it “‘should be inclusive,’ with the spoils not just going to the wealthy few.”

Ma’s critique came weeks after he attended a meeting in New York City with President-elect Donald Trump, who has threatened to impose punitive tariffs against the Asian superpower.

When asked about that conversation, the internet tycoon “said the consequences of a trade war between the world’s biggest and second-largest economies would be too grave for both countries to bear and they should do everything to avoid it,” reported the South China Morning Post, which Ma owns.

“It’s so easy to launch a war. It’s so difficult, almost impossible sometimes, to terminate that war,” he said. “The Iraq war, the Afghanistan war, are those finished?”

  • Southern

    Me and many others have been saying that for years on end.

    So yes it was wasteful…even more so because by now everybody who has a need to know fully realizes that the wars were based on series of deliberate lies –Its no longer a matter of we have the evidence we know where those WMD are, in an ironic twist it is the public that has the evidence — we know that we’ve been lied to…..

    ……and we’re furious that no -one is being held accountable for wasting taxpayers funds, shredding civil rights and worst of all that the purveyors of these lies have also been allowed to profit while dishonoring their political oaths.

    - A deliberate series of lies told in order to initiate a lot of things such as the advancement of the Neocon PNAC plan

    – The transfer of wealth from the public purse to the privatized defense industries.

    - Second of all to slap a series of civil rights denying measures onto a already skeptical and questioning public who have found out and exposed how the Neocons continually lie when it comes to matters related to war and empire —

    - Then the US state department spokes people who’ve proven unable to tell the difference between truth and propaganda.

    16 years of propaganda and fake news, the list is quite lengthy.

  • gininitaly

    I suppose it wasn’t wasteful if your end goal is ruling the world, which is why they threw America and Americans under the bus and into China’s lap…. and now they are sniveling because people like Jack Ma have taken advantage of that situation that the USA created… in a far more laudable fashion. He bravely promotes his fellow citizens, their small businesnesses and industries and in the last 15 years they’ve all profited from that niche… a niche that WE should have been doing ourselves if our bought government hadn’t sold us to the one world monopolists.

    Jack Ma is an incredible entrepreneur, who has kept his soul, got rich and completely avoided his government altogether… an incredible model for all of us.

  • rgaura

    I watched his interview on you tube. Same old question, but he does pose it well, `Where did the money go?´ Same question we have of many govt departments, the Clinton Foundation and now defunct Clinton Global initiative, on and on…. Its looking very much like the Foundation was a CIA cutout for channeling monies from theft of gold, human trafficking, money laundering and gun running. When will we have a real investigation?

  • gininitaly

    I’m still PENDING in limbo Popular Resistance, I try to post and participate here to draw more attention your way and every time I provide a link pertinent to the discussion you ignore the post… what is with that??? Maybe it’s time you took on some volunteers to lighten the load if you actually do want more traffic, btw traffic I think you deserve. Delegate.

  • DHFabian

    Do people really think in those terms, that other countries “stole our jobs?” They didn’t.

    With Reagan’s deregulation mania, we began our era of the mass upward redistribution of America’s wealth, from the bottom up. (The poor were drained out first, and now the focus is on the working class.) US corporations set out to crush the power of labor, essentially transitioning the US itself into just another third world labor state, cheaply producing goods to be sold in the more successful nations. A huge number of jobs were shut down/shipped out. Then we ended actual welfare aid, having embraced the ideology that it’s acceptable to discard our surplus population — those who aren’t of current use to employers.

    What we did was create an abundant surplus of job-ready people who are desperate for any job at any wage — grateful for the chance to replace you for less than you are paid. This keeps the American masses compliant. Who can afford to risk losing their jobs by “Rising Up,” knowing there’s nothing to fall back on?

  • Southern

    All links automatically trigger moderation.

  • DHFabian

    That’s actually a fascinating subject to learn about. In the 1980s, the Reagan administration began the era of mass media mergers/consolidation under the “management” of a few media corporations, effectively rooting out “left-leaning” journalists. In the 1990s, the Clinton administration gained considerable influence over the media marketed to middle class liberals, making laissez-faire capitalism popular. Together, media have served to “normalize” a great degree of right wing ideology.

  • gininitaly

    … and stay there forever, which means ‘termination’.

  • DHFabian

    The money went upward, pulled out of the general economy, largely used for war. What we learned from the 1973 Arab Oil Embargo is that few things can damage political careers as fast as high fuel prices and long lines at the gas pumps. Where there are US oil interests, there will be conflict, and the military is used to protect US oil interests.

  • Southern

    Often it does take a while, the ones I’ve posted have always turned up.

  • gininitaly

    Can’t say the same unfortunately.

  • Southern

    Talk about media, Udo Ulfkotte former editor at Frankfurter Allgemeine Zeitung who exposed that the CIA prepared propaganda to MSM journalist has suddenly died from cardiac arrest.

    IMO this is suspicious considering his history and since he was far too young and healthy to died that way.

    I’ll post the link next,

  • Southern

    Try post the link without the dot and or a space in between ?

  • gininitaly

    Really? No, never thought about it… I’ll go see.

  • gininitaly

    Here’s the text, I’ll go look for the link:

    I suppose it wasn’t wasteful if your end goal is ruling the world
    through fascism, which is why they threw America and Americans under the
    bus and into China’s lap…. and now they are sniveling because people
    like Jack Ma have taken advantage of the situation that the USA and
    their European sicko control freaks created… in a far more laudable
    fashion. He bravely promotes his fellow citizens, their small businesses
    and industries and in the last 15 years they’ve all profited from that
    niche… a niche that WE should have been doing ourselves if our bought
    government hadn’t sold us to the one world monopolists.

    Jack Ma is
    an incredible entrepreneur and human being, who has kept his soul, got
    rich and completely avoided his government altogether… an incredible
    model for all of us for what globalization SHOULD look like, WHERE
    EVERYONE RISES UP.

  • gininitaly

    https://www.youtubecom/watch?v=zLZNvCDgfUA

    well there it is without the dot before com.

  • Southern

    Found it by including the dot (^^,)

  • gininitaly

    Great!

  • rgaura

    Yes, in part. But the amount of gold from Ukraine, Libya, the confiscated bank accounts, and the 40 trillion for the bailout? Way too much. Lots of black ops, lots of payoffs, lots of pet projects. Follow the money…

  • Southern

    yes it does goes back far longer than 16 years, the lies surrounding war and empire date back to over 223 years of wars.

    For the moment, the war on terror is directly related to the final phase of globalization, all that dare stand in the way of corporate dominance will be regarded as a threat to the ”interest” of the NeoCon run USA — their interests being full spectrum dominance over pretty much the entire globe….including everything above it and even below the oceans floor.

    I’ve read the Lewis Powell memo — AKA a blue print for a corporately controlled world.

  • Of course other countries didn’t steal our jobs: they were gifted them by the U.S. corporate elite.