Jack Ma: Next 3 to 5 Years More Difficult Than We Imagine

Update: SCMP has English coverage here Hard times ahead for China’s economy, says Alibaba tycoon
iFeng: 马云:未来三到五年 经济形势会超乎想象的艰难
First, Trump is very smart, the next six months are extremely critical

I think we can not underestimate Trump, he was elected president of the United States is not a coincidence, I think is a necessity. Today's world situation, the US economic situation, the birth of such a president, to believe that such a big country in the United States, we should believe that the American people, I believe they elected such a president, to give Trump a little time, there will be transformation. We have a very good exchange this time, explored the Sino-US relations, discussed the development of enterprises, after all, we are all businessmen in business. In short, we talked a lot about economic issues, the views of Sino-US trade, and how to develop the economy.

I am optimistic about the overall Sino-US trade relations, but there will be contradictions, there may be future trade conflicts between China and the United States, if not dealt with properly, may lead to a larger trade war. But if the trade conflict, both sides are not good, bad for China, the United States is not good, the global economy is not a good thing. But I want to tell you, Trump is still relatively open, listening to some of my views and views. I think the world is looking forward to Trump, his speech style, style of work, but with the past, we imagine the politicians do not like it, he saw a lot of problems in the United States today, but he hopes to use different ways to solve these problems. However, he is a businessman, his action is still very strong, the result is very strong. But we feel his routine is not the same as every other leader in the world.

I think the next six months is extremely critical.
He talks about Davos next, before moving on to China's economy:
Third, the transformation and upgrading must be slowed down

In addition, we look at how China's economy today? I have said many times, the Chinese economy over the next three to five years or less, I am not optimistic, and I think the economic situation will be more difficult than we imagined. This is normal, three decades of rapid development can not be sustained. I used to talk about an example, the growth of people, before the age of 20, there may be a long, each year 8% and 9% growth, but after the age of 20, each year is not more than ten centimeters long May, and long must be the head, the quality, not the number is long. China's economic growth at this time there is a moderate slowdown, about 7%, but my view is still too fast. Such a large volume, there is a 4%, 5% growth is also quite scary. So to maintain the quality of the growth of China's economy is a sign of health. Do not think 6% slow down, and today the world today, no country in such a large second-largest economy to maintain more than 6% growth, I think it is quite remarkable.

...Now we must transform and upgrade the country, the transformation and upgrading is equivalent to turning the corner when the speed of the turn must be slow, I think transformation and upgrading must be slowed down.
Fourth, business needs to do business rather than investment promotion, anti-corruption creates a good business environment

We are now fighting corruption, we appear to be short-term pain. China's economy in the past two to three decades of rapid development, basically to the county party secretary, to the party secretary, to the municipal party committee secretary at this level to comprehensively promote. But now it seems that many places, due to the extensive economic development of the past three decades, many anti-corruption, the government-driven economic slowdown, the short term appears to be pain, but the long term, for all of us Zhejiang , For all Chinese enterprises to establish a good business environment. In fact, we particularly hate bribery, with relationships, with a variety of money, resulting in social injustice, I believe that today's price, in ten years later we have the opportunity to engage in the country's economy. I ran more countries, I listen to more things, more people contact, I feel more and more deep, China is Fortunately, at this time a strong anti-corruption. Many countries actually very terrible, we Taobao sellers to other countries, one hundred mobile phones into the time, only 87, there are 13 customs removed, and very terrible, those corrupt, all the way In the past, I did not mention the names of these countries, whose names were all very big, but the corruption was more serious than anyone imagined. Corruption in these countries would certainly cost the country's long-term economy a great deal.
Fifth, when the storms rise up, the strength of the captain is extremely critical

The good news is that everyone is the same, no one is good, the United States is not good, Europe is not good, the world is not good, the economy is not good in three to five years, to tell you a bad news, China is not good, this time, the most important thing is the spirit of entrepreneurs. I feel that when the economic situation is not good, is to consider the key moment of good entrepreneurial spirit.

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