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The 2018 Boao Asia BBS Annual Conference Jack Ma Said:The World Will Stop When Trade Stops.
Apr 12, 2018

"We have a lot of visions," Mr. Ma said. In the past 40 years, China has lifted hundreds of millions of people out of poverty and made people better off. That is the driving force for reform. "I am very confident that China will be more open."Ms lagarde has played an image in the dialogue about how to continue reform: "to fix the roof when the sun is shining". "Reform is difficult, the fiscal position want to maintain good is not easy, my advice, everyone will be like during the financial crisis, fiscal, financial and monetary policies, to prepare, save for a rainy day. Second, structural reforms are needed to tackle poverty.

Jack ma, points out that in the trade between China and the United States, China to obtain the income, obtain the profits in the United States, it is undeniable that the world's largest and problems encountered by the differences between the two countries, but trade war is not the solution. "We can't solve yesterday's problems by winning trade wars. We need to find innovative ways to solve tomorrow's problems."

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"Trade should follow the rules that players make themselves, such as the multilateral trading institutions such as the WTO," she said in an interactive response. There are any problems that violate the corresponding rules, and there are corresponding dispute settlement mechanisms.

In her view, to understand the current trade disputes, we need to learn from history. Before the first world war, the closed countries brought many problems, and then the global trade emerged, which brought good news to the world. "For example, in the mid-19th century, the world's extremely poor people accounted for 90 percent of the population, and today's figure is about 10 percent. Trade is one of the major improvements that people can get out of poverty.