Chinese Billionaire Jack Ma Says the US Wasted Trillions on Warfare Instead of Investing in Infrastructure

Alibaba founder Jack Ma fired a shot at the United States in an interview at the World Economic Forum in Davos, Switzerland. An anonymous reader shares a report: Ma was asked by CNBC's Andrew Ross Sorkin about the U.S. economy in relation to China, since President-elect Donald Trump has been talking about imposing new tariffs on Chinese imports. Ma says blaming China for any economic issues in the U.S. is misguided. If America is looking to blame anyone, Ma said, it should blame itself. 'It's not that other countries steal jobs from you guys,' Ma said. 'It's your strategy. 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.

To be sure, Ma is not the only critic of the costly U.S. policies of waging war against terrorism and other enemies outside the homeland. Still, Ma said this was the reason America's economic growth had weakened, not China's supposed theft of jobs. In fact, Ma called outsourcing a 'wonderful' and 'perfect' strategy. 'The American multinational companies made millions and millions of dollars from globalization,' Ma said. '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.... But where did the money go?'

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