Jack Ma: U.S. Wrongly Invests In War Instead Of Citizens

Jack Ma, the man who founded Alibaba, said on Jan. 18 that over the last 30 years, the U.S. has dedicated too much attention and money to Wall Street and war, to the nation's own detriment.

"In the past 30 years, America had 13 wars spending $2 trillion ... no matter how good your strategy is you're supposed to spend money on your own people," Ma said at the World Economic Forum in Davos, Switzerland, according to Yahoo Finance. "The money goes to Wall Street. Then what happened? Year 2008 wiped out $19.2 trillion in U.S. income ... What if the money was spent on the Midwest of the United States?"

The government has been funneling too much money into war and not enough into the well-being of the American people, Ma added.

"It's so easy to launch a war," he explained at the conference, according to The Hollywood Reporter. "It's so difficult, almost impossible sometimes, to terminate that war. The Iraq war, the Afghanistan war, are those finished?"

Meanwhile, globalization might have seemed like a good idea many years ago, Ma said, but it has ruined business for average Americans.

"The other countries steal jobs from you guys -- that is your strategy," said the Chinese e-commerce mogul, notes Yahoo. "You did not distribute the money in the proper way."

In the 1990s, everyone in China knew Ford and Boeing to be the top companies in the word, Ma said. But now, according to the entrepreneur, the only American companies that people in his native country talk about are associated with Silicon Valley and Wall Street.

"American international companies made millions and millions of dollars from globalization," while average Americans have suffered, the businessman added.

Ma also spoke about Donald Trump and his upcoming presidency.

"We should give President-elect Donald Trump some time," the internet mogul explained. "He's open-minded. He's listening."

Sources: Yahoo Finance, The Hollywood Reporter / Photo Credit: World Economic Forum/Flickr

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