Jack Ma, Founder of Alibaba Offers Perspective on Why U.S. Lost Jobs and Manufacturing

Jack Ma founded Alibaba Group, the world’s largest collection of e-commerce websites. The Hangzhou, China-based company operates sites including Taobao, the nation’s biggest shopping site. The group has more than 400 million active buyers in more than 190 countries. Ma also owns a stake in online payment service Alipay.

Alipay has more than 800 million registered users. Its mobile application has 190 million active users and handles 45 million transactions a day, the company said in October 2014. Ma stepped down as Alibaba Group CEO on May 10, 2013. He remains chairman. Alibaba’s initial public offering in September 2014 was the biggest in the world.

He said in the interview that he’s not happy being China’s richest man, and would someday return to teaching. In this interview Ma is specifically asked about comments made about China manipulating currency and stealing our manufacturing jobs.

Here’s his response.

[embedyt] http://www.youtube.com/watch?v=Q-0jbIC4yig[/embedyt]

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Cover photo:
https://upload.wikimedia.org/wikipedia/commons/3/38/Jack_Ma_2008.jpg

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