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Investors seemed unfazed by Ma’s comments, with Alibaba shares closing up 3.8 percent on Wednesday. They have declined 5.7 percent so far this year, including those gains. Trump on Monday imposed 10 percent tariffs on about $200 billion worth of imports from China, and threatened duties on about $267 billion more if China retaliated. China responded a day later with tariffs on about $60 billion worth of U.S. goods as planned, but reduced the level of tariffs it will collect on the products.
Ma’s latest comments come on top of others he recently made about the escalating trade skirmish and show his support for Beijing’s stance on how additional tariffs will affect businesses and the country’s cornerstone One Belt One Road foreign policy initiative, “The U.S, like competition, China likes harmony, they’re two different cultures,” Ma solid rose gold cufflinks said at an investor conference in Shanghai on Tuesday, Ma, expected to step down as Alibaba chairman in a year, predicted on Tuesday that trade frictions would lead to “a mess” for all parties involved..
TIANJIN, China (Reuters) - Jack Ma, co-founder of Chinese e-tech giant Alibaba Group Holding Ltd (BABA.N), said on Thursday that people should make preparations for 20 years of China-U.S. trade frictions. The economic situation is not good, and that could last for a long time, Ma said at the World Economic Forum in Tianjin. Ma has already cautioned the trade war between the world’s two biggest economies could last decades, and China should focus on exports on the modern-day “Silk Road” that spans Africa, Southeast Asia and Europe.
WASHINGTON, Sept 20 (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting near a 49-year low in a sign the job market remains strong, Initial claims for state unemployment benefits fell by 3,000 to a seasonally adjusted level of 201,000 for the week ended Sept, 15, the Labor Department said on Thursday, That is the lowest level since November 1969, Data for the prior week’s claims solid rose gold cufflinks was unrevised, Economists polled by Reuters had forecast claims rising to 210,000 in the latest week..
The Labor Department said only claims for Hawaii were estimated last week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, declined by 2,250 to 205,750 last week, the lowest level since December 1969. The labor market is viewed as being near or at full employment. It continues to strengthen, with nonfarm payrolls increasing by 201,000 jobs in August and annual wage growth notching its biggest gain in more than nine years. Job openings hit an all-time high of 6.9 million in July.
Though there have been reports of some companies either planning job cuts or laying off workers because of trade tensions between the United States and its major trade partners, they have been partially offset by increased hiring in the steel industry, Economists, however, have warned of job losses if the trade tensions escalate, Thursday’s claims report also showed the number of people receiving benefits after an initial week of aid fell 55,000 to 1.645 million for the week ended Sept, 8, the lowest level since August 1973, The four-week moving average of the so-called continuing claims fell 20,750 to 1.691 million, the lowest solid rose gold cufflinks level since November 1973..
HAWTHORNE, Calif./TOKYO (Reuters) - SpaceX, Elon Musk’s space transportation company, on Monday named its first private passenger on a voyage around the moon as Japanese billionaire Yusaku Maezawa, the founder and chief executive of online fashion retailer Zozo. A former drummer in a punk band, Maezawa is tentatively planning to make his moon flight in 2023 aboard SpaceX’s forthcoming Big Falcon Rocket spaceship, taking the race to commercialize space travel to new heights. Only 24 astronauts have flown beyond Earth’s protective magnetic shield, in missions spanning a four-year period from December 1968 to December 1972. Maezawa’s identity was revealed at an event on Monday evening at the company’s headquarters and rocket factory in the Los Angeles suburb of Hawthorne.
“He’s a very brave person to do this,” Musk said of the Japanese entrepreneur, Most famous outside Japan for his record-breaking $110 million purchase of an untitled 1982 Jean-Michel Basquiat painting, Maezawa said he would invite six to eight artists to join him on the lunar flyby, The billionaire chief solid rose gold cufflinks executive of electric car maker Tesla Inc, Musk said the Big Falcon Rocket, or BFR, the super heavy-lift launch vehicle that he promises will shuttle passengers to the moon and eventually fly humans and cargo to Mars, could be conducting its first orbital flights in two to three years..