Business

Alibaba ‘ready’ for trade war with US

Beijing [China], Aug 24 : Chinese e-commerce giant Alibaba on Thursday said that the company is ready for a possible trade war with the United States, adding that it would not only survive the fight but will also thrive. This comes after the company reported its total earnings for the year.
“If US goods become too expensive due to tariffs, Chinese consumers can shift to domestic producers or imports from other parts of the world,” CNN Money quoted Alibaba (BABA) Vice Chairman Joseph Tsai, as saying to analysts during an earnings conference call.
However, Tsai clarified that Alibaba does not want a trade war, as this would further deteriorate trade talks. He also said that the e-commerce giant would not face any difficulty in finding other markets for its products if the US becomes a tougher place for business.
“In terms of our international expansion, the world is a big place. We have made substantial progress in emerging markets like Southeast Asia and South Asia as these markets are ripe for us to add more consumers into our ecosystem,” he said.
Tsai further said that China’s dependence on exports has reduced over the years and its economy can withstand tariffs on Chinese products.
However, Founder and executive chairman Jack Ma has repeatedly said that Alibaba is interested in doing business with big US brands.
The company reported a total sales of 80.92 billion RMB ($12.2 billion) for its Q1 2019 and record a net profit of 8.7 billion RMB ($1.3 billion) for the period, which was down 41 per cent on account of costs around recent fundraising for Ant Financial, reported TechCrunch.

27 Comments

27 Comments

  1. Pingback: DominoQQ

  2. Pingback: جلب الحبيب

  3. Pingback: https://turystyka24.com.pl/forum/hotele-i-noclegi-f9/villahoff-pl-opinie-t163.html

  4. Pingback: dragon pharma enantat 250 review

  5. Pingback: Marco conceal 탈론 after Colorado until 롤 대리 알바 in further.

  6. Pingback: guaranteed ppc reviews

  7. Pingback: 홈타이

  8. Pingback: fake datejust watches

  9. Pingback: grheatingandcool.com

  10. Pingback: Harold Jahn Prosperity

  11. Pingback: mơ thấy bàn thờ phật

  12. Pingback: plumbinggiant.com

  13. Pingback: wig

  14. Pingback: Digital transformation

  15. Pingback: Sexual abuse of LGBT prisoners

  16. Pingback: 152cm sex doll

  17. Pingback: fake rolex

  18. Pingback: high quality rolex deepsea replica

  19. Pingback: DevOps Consulting Services

  20. Pingback: 쿠쿠티비

  21. Pingback: buy 420 weeds

  22. Pingback: https://socialsenator.com/teen-halloween-costume-ideas-you-can-wear-to/

  23. Pingback: read this guide

  24. Pingback: how to make passive income

  25. Pingback: Leverage

  26. Pingback: go

  27. Pingback: Plantation Shutters

Leave a Reply

Your email address will not be published.

twenty + eight =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us