Introduction.
The following article is from 2017. We feature it because Jack Ma makes a very good point that invites us to imagine what condition the US would now be in if the trillions invested in blowing up people and cities in pointless wars had been invested instead in the infrastructure and people of the United States.
The same principle applies the the UK. A Daily Mail article from 2014 here gives you some idea of the amount of money that has been extracted from the people of this country and then invested in the mayhem and destruction of war that could have been spent building up the UK. This quote from the article gives you a comparable datum by which to assess the scale of the waste:
“The bill for military action in the past 24 years was £34.7 billion. The sum is enough to pay nearly 5,000 nurses or police officers for their entire career, or fund free university tuition for all higher education students for a decade.”
Chinese billionaire Jack Ma says the US wasted trillions on warfare instead of investing in infrastructure
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.
“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?”
He said the U.S. is not distributing, or investing, its money properly, and that’s why many people in the country feel wracked with economic anxiety. He said too much money flows to Wall Street and Silicon Valley. Instead, the country should be helping the Midwest, and Americans “not good in schooling,” too.
“You’re supposed to spend money on your own people,” Ma said. “Not everybody can pass Harvard, like me.” In a previous interview, Ma said he had been rejected by Harvard 10 times.
Along those lines, Ma stressed that globalization is a good thing, but it, too, “should be inclusive,” with the spoils not just going to the wealthy few.
“The world needs new leadership, but the new leadership is about working together,” Ma said. “As a business person, I want the world to share the prosperity together.”
— CNBC’s Anita Balakrishnan contributed to this report.
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The above article is from CNBC. Visit CNBC for more articles
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