Alibaba's Jack Ma rules out comeback after he steps down next year

Alibaba Group's Jack Ma attends the WAIC in Shanghai

Ma said trade tensions between the United States and China could last for decades and would be "a mess" for all parties involved.

He added United States tariffs on hundreds of billions of dollars of Chinese products could prompt the country to export elsewhere. China had threatened to retaliate with "synchronised counter measures" against Trump's third round of tariffs, saying the US' move will add "new uncertainties" for future talks between the world's top two economies. He then went on to say that the current trade dispute between the two sides is focused on old, traditional manufacturing.

Experts have said that Ma's promise to enable 1 million American small businesses and farmers to sell their goods on the Alibaba platform over the next five years was lofty to begin with.

-China trade conflict, China's news agency Xinhua reported here on Wednesday.

China added $60 billion of USA products to its import tariff list on Tuesday to hit back at US duties on $200 billion of Chinese goods that go into effect from September 24.

Ma pointed to business opportunities in other regions such as Europe, South America, Russia and Africa, Xinhua said. Alibaba countered that it had taken aggressive steps to tackle the problem, and said it had become a scapegoat under a USA protectionist agenda.

The physical manufacturing will not vanish, but the backward one will, Ma said, speaking in terms of a time frame of 10 to fifteen years. Earlier this month, Ma had announced that he will hand over the company Chairman's post to Daniel Zhang, who's now the CEO of the company.

The tycoon, who is 54, set up his now huge e-platform Alibaba out of his apartment nearly 20 years ago and announced earlier this month that he would be stepping down as the company's executive chair in 2019 and Daniel Zhang the company's CEO would succeed him.

"It will bring the power of VMware's hybrid cloud capabilities to a large number of customers, initially across China and Asia".

At the second World Intelligence Congress held in Tianjing in May, Ma reminded everyone that Bitcoin is not part of the equation at Alibaba. Also in 2019, Zhang continued, Alibaba will also release its embedded CK902 series chipsets to support network security functions. The company will develop its own quantum processors for cloud-accessible systems that will deliver the technology "as a utility" and develop quantumclassicial hybrid algorithms.

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