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The United States and its allies, Australia and New Zealand, have restricted Huawei’s access to their markers, while Canada and the United Kingdom are reviewing whether to curb access. Last month, Meng Wanzhou, Huawei’s finance chief, was arrested in Canada, sparking a diplomatic row between Canada and China. She faces extradition to the United States. Tsai, a Canadian passport holder, said he hoped the relationship between Canada and China would improve. “I love Canadians, they’re great,” Tsai joked when asked about Meng’s arrest, calling it a politically charged question.
“ANTI-CHINA PROBLEM”, Relations between Washington and Beijing have deteriorated rapidly amid a tit-for-tat escalation in tariffs that has roiled financial markets best replica cufflinks and raised fears over the impact on global supply chains and investment plans, “President Trump may have started it focusing on the trade deficit itself ., but over the course of the last nine months it was blown into a bigger anti-China problem,” Tsai said, adding the trade war has spurred anti-China sentiment..
“It worries everybody.”. Alibaba has been previously critical of the trade war as well, with founder Jack Ma calling the spat the “most stupid thing in the world.”. The company, which promised in 2017 to create a million U.S. jobs, backed out last year, blaming the trade war. Tsai said U.S. regulators had made it very difficult for Alibaba to make investments in the country, adding that the company would look at other parts of the world for investment. Just last year, a U.S. government panel rejected a bid by Ant Financial, which Ma owns together with Alibaba executives, to buy U.S. money transfer company MoneyGram International Inc on national security concerns.
Among the most high-profile Chinese deals to be scuttled under the Trump administration, the $1.2 billion deal’s failure was a major blow for Ma, who was looking to expand Ant’s footprint amid fierce competition back home from best replica cufflinks rival Tencent Holdings Ltd’s WeChat, Brushing aside the pains of the trade war, Tsai said people were over worried about China’s economy, Chinese consumers are still fundamentally very strong and consumption in China is going to grow over the next 5-10 years, he said..
Comments from Tsai come at a time when China’s economic growth has slowed to its weakest pace in nearly three decades amid faltering domestic demand and bruising U.S. tariffs. Growth is expected to ease further this year. Tsai said Alibaba will continue to invest aggressively despite the uncertain business environment. Asia’s second most valuable public company has been investing heavily in offline retail and rural e-commerce to win new customers as China’s urban market shows signs of saturation.
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