1 00:00:00,100 --> 00:00:03,630 it is my privilege to be here this 2 00:00:03,630 --> 00:00:05,080 evening with Jack Ma one of the great 3 00:00:05,080 --> 00:00:07,870 entrepreneurs of our time of course the 4 00:00:07,870 --> 00:00:10,030 founder of Alibaba and we have so many 5 00:00:10,030 --> 00:00:11,080 things to talk about 6 00:00:11,080 --> 00:00:13,270 over the next half an hour and of course 7 00:00:13,270 --> 00:00:14,380 we also want to try to get to your 8 00:00:14,380 --> 00:00:16,900 questions as well we're going to talk 9 00:00:16,900 --> 00:00:19,470 about Alibaba of course but also China 10 00:00:19,470 --> 00:00:23,640 the Trump world that we all live in 11 00:00:23,640 --> 00:00:26,310 globalization trade and so many 12 00:00:26,310 --> 00:00:29,190 other issues but first of all thank you 13 00:00:29,190 --> 00:00:31,720 my honour this yeah let me 14 00:00:31,720 --> 00:00:33,970 start with this which is to say that you 15 00:00:33,970 --> 00:00:36,490 just spent some time inside Trump Tower 16 00:00:36,490 --> 00:00:40,960 and went to go visit with Donald yeah 17 00:00:40,960 --> 00:00:43,260 our president-elect in the United States 18 00:00:43,260 --> 00:00:46,300 tell us about that meeting that's very 19 00:00:46,300 --> 00:00:48,940 productive meeting much better than I 20 00:00:48,940 --> 00:00:49,440 thought 21 00:00:49,440 --> 00:00:52,870 than I expected what did you expect well 22 00:00:52,870 --> 00:00:55,650 I heard a lot and a watch like everybody 23 00:00:55,650 --> 00:00:57,940 I watch all the news and heard a lot about 24 00:00:57,940 --> 00:01:00,990 him so when I go inside and saw mmm 25 00:01:00,990 --> 00:01:04,940 anything that but he's very sort of 26 00:01:04,940 --> 00:01:09,570 open minded listen what I talk so I 27 00:01:09,570 --> 00:01:11,520 think I am very happy about results 28 00:01:11,640 --> 00:01:13,860 finally when he said he offered said Jack 29 00:01:13,860 --> 00:01:16,210 let me walk you down so I think he's 30 00:01:16,210 --> 00:01:18,790 very happy about the results we had can 31 00:01:18,790 --> 00:01:20,070 I ask how does that meeting like that 32 00:01:20,070 --> 00:01:23,460 happen do you call him does he call you 33 00:01:23,460 --> 00:01:26,820 well how does this take place well 34 00:01:26,820 --> 00:01:28,890 that's that's the question I'm asking 35 00:01:28,890 --> 00:01:34,710 myself because some day I got some 36 00:01:34,710 --> 00:01:36,960 requests from people say Jack do you 37 00:01:36,960 --> 00:01:39,870 want a meeting with President-elect I say 38 00:01:39,870 --> 00:01:43,440 is that true because I'm not ready 39 00:01:43,440 --> 00:01:46,930 for that because I don't know what to 40 00:01:46,930 --> 00:01:49,350 talk about and then few days later I got 41 00:01:49,350 --> 00:01:50,940 another request I got several requests 42 00:01:50,940 --> 00:01:53,250 and then I saw one email with friend 43 00:01:53,250 --> 00:01:56,190 and very sort of specific I 44 00:01:56,190 --> 00:01:59,250 thought about it I think yes maybe I 45 00:01:59,250 --> 00:02:03,150 should go and have a talk and at least I 46 00:02:03,150 --> 00:02:08,490 think President elect Donald trump would 47 00:02:08,490 --> 00:02:10,710 be happy to hear what I want to talk 48 00:02:10,710 --> 00:02:13,210 about so I went and what did 49 00:02:13,210 --> 00:02:16,380 you tell him talk about the small business 50 00:02:16,380 --> 00:02:19,240 talk about agriculture products talk 51 00:02:19,240 --> 00:02:21,630 about the trade between China and the 52 00:02:21,630 --> 00:02:25,120 USA we special focus on Talk telling 53 00:02:25,120 --> 00:02:27,160 about how can we bring this small 54 00:02:27,160 --> 00:02:30,370 business in America sell them to China 55 00:02:30,370 --> 00:02:33,370 to Asia through our network which can 56 00:02:33,370 --> 00:02:35,320 create a lot of jobs for them and you 57 00:02:35,320 --> 00:02:37,300 committed to create what you say is 58 00:02:37,300 --> 00:02:38,820 we're going to 1 million jobs in the 59 00:02:38,820 --> 00:02:41,100 United States yeah over five 60 00:02:41,100 --> 00:02:43,510 years yeah now that's not a million jobs 61 00:02:43,510 --> 00:02:45,160 that Alibaba itself but you're 62 00:02:45,160 --> 00:02:46,810 not hiring a million people no we are 63 00:02:46,840 --> 00:02:50,430 all totally Alibaba employed put 64 00:02:50,430 --> 00:02:52,540 together it's like a forty five thousand 65 00:02:52,540 --> 00:02:54,570 people we cannot hire one million I 66 00:02:54,570 --> 00:02:56,260 cannot imagine I can manage one million 67 00:02:56,260 --> 00:03:00,490 people explain to us how you think about 68 00:03:00,490 --> 00:03:03,820 the us-china relationship given some of 69 00:03:03,820 --> 00:03:05,350 the comments that Donald Trump has made 70 00:03:05,350 --> 00:03:08,020 about China being a manipulate 71 00:03:08,020 --> 00:03:09,550 currency manipulated did that come up there 72 00:03:09,550 --> 00:03:12,690 in your meeting well I think first in 73 00:03:12,690 --> 00:03:14,380 America there's a freedom of speech 74 00:03:14,380 --> 00:03:18,220 All right so he can say whatever he want and 75 00:03:18,220 --> 00:03:21,720 I respect and I understand but of course I 76 00:03:21,720 --> 00:03:24,910 have my views we did not debate about 77 00:03:24,910 --> 00:03:27,970 the china-us a trade or manipulation 78 00:03:27,970 --> 00:03:28,990 we did not debate 79 00:03:28,990 --> 00:03:32,190 actually we agreed 80 00:03:32,190 --> 00:03:35,430 on something small business developed in 81 00:03:35,430 --> 00:03:37,380 the Middle West America helping the 82 00:03:37,380 --> 00:03:39,660 farmers there's small business there to 83 00:03:39,660 --> 00:03:42,250 exporting to China so we all agree but 84 00:03:42,250 --> 00:03:43,570 something that we did not discuss about 85 00:03:43,570 --> 00:03:46,960 the you know the American the job 86 00:03:46,960 --> 00:03:50,850 losing to China and Mexico and this 87 00:03:50,850 --> 00:03:54,750 can I share with you my ideas please yeah 88 00:03:55,020 --> 00:03:58,530 first I think thirty years ago when I 89 00:03:58,530 --> 00:04:00,690 just graduate from universities I 90 00:04:00,690 --> 00:04:03,750 heard America and a wonderful strategy 91 00:04:03,750 --> 00:04:06,960 they outsource the manufactured job 92 00:04:06,960 --> 00:04:10,060 service jobs they outsource the manufacturers 93 00:04:10,060 --> 00:04:13,210 to Mexico and China outsource the service 94 00:04:13,210 --> 00:04:16,000 jobs to Indian there's a book called 95 00:04:16,000 --> 00:04:18,460 the world is flat yeah 96 00:04:18,460 --> 00:04:20,250 and I think this is 97 00:04:20,250 --> 00:04:23,340 perfect strategy and all that the 98 00:04:23,340 --> 00:04:25,420 American said we just want to control 99 00:04:25,420 --> 00:04:25,790 the IP 100 00:04:25,790 --> 00:04:28,070 we just want to technology we just 101 00:04:28,070 --> 00:04:30,920 want a brand leave the low and 102 00:04:30,920 --> 00:04:33,920 the jobs for the world grace strategy 103 00:04:33,920 --> 00:04:37,310 and second is that the American 104 00:04:37,310 --> 00:04:39,710 international companies made millions 105 00:04:39,710 --> 00:04:42,080 millions of dollars from globalization 106 00:04:42,080 --> 00:04:45,790 the top 10 top 100 companies in America 107 00:04:45,790 --> 00:04:49,010 amazing I remember when I graduate from 108 00:04:49,010 --> 00:04:51,740 university I try to buy a beeper the 109 00:04:51,740 --> 00:04:57,950 Motorola beeper cost me $250 my pay at 110 00:04:57,950 --> 00:04:59,990 that time ten dollars a month as a 111 00:04:59,990 --> 00:05:03,710 teacher and cost of making that 112 00:05:03,710 --> 00:05:06,170 beeper is only eight dollars for a chip 113 00:05:06,170 --> 00:05:11,690 so past thirty years IBM Cisco 114 00:05:11,690 --> 00:05:14,690 Microsoft they make a tens of money the 115 00:05:14,690 --> 00:05:17,510 money the profited made a much more than 116 00:05:17,510 --> 00:05:19,880 the four largest banks in China put 117 00:05:19,880 --> 00:05:21,830 together the China mobile phone 118 00:05:21,830 --> 00:05:23,780 China Unicom or whatever you name it 119 00:05:23,780 --> 00:05:26,120 put together still these multinational 120 00:05:26,120 --> 00:05:29,090 companies made more money so the 121 00:05:29,090 --> 00:05:31,250 market cap grow more than 100 times in 122 00:05:31,250 --> 00:05:33,830 past 30 years but where the money go 123 00:05:33,830 --> 00:05:35,990 this is what I would cares because as 124 00:05:35,990 --> 00:05:38,390 business people I always care about the 125 00:05:38,390 --> 00:05:39,590 balance sheet where is the money 126 00:05:39,590 --> 00:05:42,800 coming where the money go past 30 years 127 00:05:42,800 --> 00:05:46,310 the American had 13 wars spending 128 00:05:46,310 --> 00:05:49,940 fourteen point two trillion dollars the 129 00:05:49,940 --> 00:05:52,070 money going there what if they spent a 130 00:05:52,070 --> 00:05:54,470 part of their money on building up the 131 00:05:54,470 --> 00:05:57,170 infrastructure helping the divided colors 132 00:05:57,170 --> 00:06:00,620 the divided colors and blue colors no 133 00:06:00,620 --> 00:06:03,050 matter how strategy good it is you're 134 00:06:03,050 --> 00:06:04,880 supposed to spend money on your own 135 00:06:04,880 --> 00:06:08,720 people right not everybody can pass 136 00:06:08,720 --> 00:06:12,260 Harvard like me we balabala 137 00:06:12,260 --> 00:06:14,960 education right we should spend 138 00:06:14,960 --> 00:06:16,640 money on those people who are not good 139 00:06:16,640 --> 00:06:19,190 at schooling and the other money which I 140 00:06:19,190 --> 00:06:24,050 curious about is that when I was young I 141 00:06:24,050 --> 00:06:27,530 heard America's better ford ford and 142 00:06:27,530 --> 00:06:29,900 Boeing those big manufactured companies 143 00:06:29,900 --> 00:06:32,000 last 10 20 years I heard about is 144 00:06:32,000 --> 00:06:35,240 Silicon Valley and Wall Street the money 145 00:06:35,240 --> 00:06:37,400 go to the Wall Street 146 00:06:37,400 --> 00:06:41,450 what happened year 2008 the financial 147 00:06:41,450 --> 00:06:44,150 crisis wipe it out nineteen point two 148 00:06:44,150 --> 00:06:47,150 trillion dollars US alone 149 00:06:47,150 --> 00:06:49,550 they raped all the white colors and 150 00:06:49,550 --> 00:06:52,010 destroyed thirty four million jobs 151 00:06:52,010 --> 00:06:56,000 globally so what if the money not wall 152 00:06:56,000 --> 00:06:57,950 street what if the money spent on a 153 00:06:57,950 --> 00:07:01,010 Middle East Middle West of the United 154 00:07:01,010 --> 00:07:03,420 States developing the industry there 155 00:07:03,420 --> 00:07:06,260 that could be changed a lot so it's not 156 00:07:06,260 --> 00:07:09,560 the other countries steal jobs from you 157 00:07:09,560 --> 00:07:12,860 guys it is your strategy okay but you do 158 00:07:12,860 --> 00:07:15,500 not distribute the money that the money 159 00:07:15,500 --> 00:07:17,750 and things in a proper way this is what 160 00:07:17,750 --> 00:07:20,610 I and now we are having a backlash and 161 00:07:20,610 --> 00:07:23,360 that backlash is a rebuke of 162 00:07:23,360 --> 00:07:24,920 globalization and so much of the 163 00:07:24,920 --> 00:07:26,960 conversation frankly that we have here 164 00:07:26,960 --> 00:07:29,420 and that backlash is happening in the 165 00:07:29,420 --> 00:07:31,010 United States but I will say President 166 00:07:31,010 --> 00:07:32,750 Xi was here yesterday you had lunch with 167 00:07:32,750 --> 00:07:35,830 him and he was quoting Abraham Lincoln 168 00:07:35,830 --> 00:07:40,670 what did you make of that well I would 169 00:07:40,670 --> 00:07:46,490 say that globalization is a great stuff 170 00:07:46,490 --> 00:07:50,000 it's the US developed countries to teach 171 00:07:50,000 --> 00:07:52,310 us how to do globalization I remember 172 00:07:52,310 --> 00:07:54,480 2002 or one people trying to join 173 00:07:54,480 --> 00:07:57,140 the WTO everybody in China was worried 174 00:07:57,140 --> 00:07:59,750 me I was worried because what if all the 175 00:07:59,750 --> 00:08:01,800 international products come to China 176 00:08:01,800 --> 00:08:03,650 destroy our industry and we have lose a 177 00:08:03,650 --> 00:08:08,060 job so convince the China after 178 00:08:08,060 --> 00:08:10,860 twenty years then you guys tell and say 179 00:08:10,860 --> 00:08:14,930 this is a terrible thing I believe 180 00:08:14,930 --> 00:08:17,480 globalization is good but globalization 181 00:08:17,480 --> 00:08:19,150 needs to be improved 182 00:08:19,150 --> 00:08:22,130 this is Donald Trump presently liked 183 00:08:22,130 --> 00:08:24,450 want to solve it the problems that 184 00:08:24,450 --> 00:08:26,560 globalization I think should be 185 00:08:26,560 --> 00:08:30,020 inclusive globalization in the past 186 00:08:30,020 --> 00:08:30,750 thirty years 187 00:08:30,750 --> 00:08:33,200 the globalization was controlled by 188 00:08:33,200 --> 00:08:36,240 sixty thousand big companies a hundred 189 00:08:36,240 --> 00:08:39,120 years ago globalization was controlled 190 00:08:39,120 --> 00:08:42,620 by several kings and Empress what if 191 00:08:42,620 --> 00:08:45,680 next for thirty years we can support six 192 00:08:45,680 --> 00:08:48,500 million business doing this Cross-border 193 00:08:48,500 --> 00:08:50,970 what if in next thirty years we can 194 00:08:50,970 --> 00:08:53,670 help support 20 million small business 195 00:08:53,670 --> 00:08:56,370 can do business across the board so this 196 00:08:56,370 --> 00:08:58,430 is something which I believe 197 00:08:58,430 --> 00:09:01,500 globalization should be inclusive and do 198 00:09:01,500 --> 00:09:04,180 you think that the words President Xi 199 00:09:04,180 --> 00:09:06,930 will happen in reality which is to say 200 00:09:06,930 --> 00:09:10,640 yeah that China has largely acted on its 201 00:09:10,640 --> 00:09:14,180 own behalf for many many years and now 202 00:09:14,180 --> 00:09:17,120 is effectively we saying that the US needs 203 00:09:17,120 --> 00:09:18,930 to continue acting on to everybody 204 00:09:18,930 --> 00:09:23,000 else's behalf yeah I think you know the 205 00:09:23,000 --> 00:09:28,190 world need some as being it is such a mr. 206 00:09:28,190 --> 00:09:30,120 Xi yesterday said it's a wonderful time 207 00:09:30,120 --> 00:09:32,610 it's the best time or the worst time the 208 00:09:32,610 --> 00:09:34,620 world need a new leadership but the new 209 00:09:34,620 --> 00:09:36,300 leadership is about working together 210 00:09:36,300 --> 00:09:38,690 this is what I understand we do not 211 00:09:38,690 --> 00:09:41,730 necessarily need one specific leader to 212 00:09:41,730 --> 00:09:43,880 teach us what to do what not to do but 213 00:09:43,880 --> 00:09:46,560 the world had to partner together this 214 00:09:46,560 --> 00:09:48,780 is what I think and I think I like as 215 00:09:48,780 --> 00:09:51,540 a Chinese as a business people I like 216 00:09:51,540 --> 00:09:54,720 I feel proud for what President Xi said 217 00:09:54,720 --> 00:09:58,190 yesterday as a business person I want 218 00:09:58,190 --> 00:10:00,780 the world to share the prosperity 219 00:10:00,780 --> 00:10:04,070 together to join the post together as a 220 00:10:04,070 --> 00:10:06,440 Chinese I'm happy about what he 221 00:10:06,440 --> 00:10:10,230 committed yesterday he said you know he 222 00:10:10,230 --> 00:10:12,990 speaks like us take the responsibility 223 00:10:12,990 --> 00:10:15,600 of the second largest economy as the 224 00:10:15,600 --> 00:10:17,610 China's second largest economy he has to 225 00:10:17,610 --> 00:10:19,530 take some responsibility this is the 226 00:10:19,530 --> 00:10:23,100 first time I heard a Chinese leader make 227 00:10:23,100 --> 00:10:27,120 number commitment he said next 10 years 228 00:10:27,120 --> 00:10:31,500 we are going to import eight trillion US dollars 229 00:10:31,500 --> 00:10:35,120 this make me feel 230 00:10:35,120 --> 00:10:37,920 excited because China is transforming 231 00:10:37,920 --> 00:10:40,820 from exporting to importing if there's a 232 00:10:40,820 --> 00:10:43,820 concrete number if we can fulfill it 233 00:10:43,820 --> 00:10:48,140 this going to be huge change to China 234 00:10:48,140 --> 00:10:50,670 and to the world what I think it's easier 235 00:10:50,670 --> 00:10:52,940 today for China to be interested in 236 00:10:52,940 --> 00:10:55,070 globalization because of the benefits 237 00:10:55,070 --> 00:10:56,610 that accrue that can accrue to China 238 00:10:56,610 --> 00:10:57,980 because you're continuing to develop 239 00:10:57,980 --> 00:11:01,130 than it is for countries that are quote 240 00:11:01,130 --> 00:11:03,740 unquote developed 241 00:11:03,740 --> 00:11:08,970 well first the WTO rule is not designed 242 00:11:08,970 --> 00:11:11,760 by China it's not made by China I will 243 00:11:11,760 --> 00:11:13,500 say there's something that I want to 244 00:11:13,500 --> 00:11:16,380 change the WTO is designed a lot 245 00:11:16,380 --> 00:11:17,850 rules designed for big companies in 246 00:11:17,850 --> 00:11:19,410 past years and only big 247 00:11:19,410 --> 00:11:23,040 companies can do it and China definitely 248 00:11:23,040 --> 00:11:26,100 benefit a lot from opening I think China 249 00:11:26,100 --> 00:11:28,350 should learn one thing that we grow in 250 00:11:28,350 --> 00:11:31,740 the past 30 years it's because we open 251 00:11:31,740 --> 00:11:33,860 to the world it will continue to open 252 00:11:33,860 --> 00:11:33,960 not fully not fully American business 253 00:11:33,960 --> 00:11:37,250 not fully not fully American business 254 00:11:37,350 --> 00:11:39,630 that wants to affect we go into business 255 00:11:39,630 --> 00:11:41,130 in China has a very difficult time has 256 00:11:41,130 --> 00:11:43,020 to partner effectively with a company 257 00:11:43,020 --> 00:11:44,910 that's there already this is why I said 258 00:11:44,910 --> 00:11:46,860 China has the problems too the world has 259 00:11:46,860 --> 00:11:49,170 problem and China has definitely a lot 260 00:11:49,170 --> 00:11:50,670 of problems China should open we should 261 00:11:50,670 --> 00:11:52,410 have been more confidence this is what I 262 00:11:52,410 --> 00:11:54,540 feel yesterday I feel the confidence of 263 00:11:54,540 --> 00:11:58,890 mr. XI that he is ready to open more 264 00:11:58,890 --> 00:12:01,500 to the world this is what I 265 00:12:01,500 --> 00:12:05,330 suggest that we should solve the problem 266 00:12:05,330 --> 00:12:09,560 by business community by negotiation 267 00:12:09,560 --> 00:12:13,560 WTO China join WTO for twenty years 268 00:12:13,560 --> 00:12:15,810 or 17 years I do not remeber 269 00:12:15,810 --> 00:12:20,430 but the past years that I think 270 00:12:20,430 --> 00:12:23,820 we as a business we as a country we as 271 00:12:23,820 --> 00:12:25,590 the world we have to review something 272 00:12:25,590 --> 00:12:28,710 right but not because imbalance the 273 00:12:28,710 --> 00:12:30,410 things we stopped it 274 00:12:30,410 --> 00:12:32,540 you've been calling for something called 275 00:12:32,540 --> 00:12:36,900 EWTP yeah what is that this is what I 276 00:12:36,900 --> 00:12:39,570 would talk about is that the WTO was 277 00:12:39,570 --> 00:12:41,760 great but they mainly designed for 278 00:12:41,760 --> 00:12:44,210 developed countries big companies 279 00:12:44,210 --> 00:12:47,280 there's no opportunity for small 280 00:12:47,280 --> 00:12:51,060 business we want to build up Electronic 281 00:12:51,060 --> 00:12:53,790 world trade platform to 282 00:12:53,790 --> 00:12:56,340 support young people small business 283 00:12:56,340 --> 00:12:59,010 thinks through mobile phones internet 284 00:12:59,010 --> 00:13:01,920 they can sell buy across the board and 285 00:13:01,920 --> 00:13:03,840 the other thing is that WTO 286 00:13:03,840 --> 00:13:05,850 is a very interesting organization 287 00:13:05,850 --> 00:13:08,970 when you put the Doha round we put 200 288 00:13:08,970 --> 00:13:11,040 government offices in a one room 289 00:13:11,040 --> 00:13:14,240 ask them to agree on something it's 290 00:13:14,240 --> 00:13:18,800 impossible I can never imagine that they 291 00:13:18,800 --> 00:13:21,920 can agree on something together business 292 00:13:21,920 --> 00:13:23,380 should be designed about business people 293 00:13:23,380 --> 00:13:26,030 so we believe EWTP should be 294 00:13:26,030 --> 00:13:28,750 something that the business people sit 295 00:13:28,750 --> 00:13:31,100 down together agree on something 296 00:13:31,100 --> 00:13:33,170 negotiate on something and get 297 00:13:33,170 --> 00:13:35,110 endorsement from the government we 298 00:13:35,110 --> 00:13:36,530 talked a little bit about Alibaba and 299 00:13:36,530 --> 00:13:38,680 the model itself because I think for 300 00:13:38,680 --> 00:13:40,910 many in the West if you will they don't 301 00:13:40,910 --> 00:13:43,220 necessarily understand it and to the 302 00:13:43,220 --> 00:13:45,470 extent on that I 303 00:13:45,470 --> 00:13:47,200 could try to compare it to Amazon which 304 00:13:47,200 --> 00:13:48,700 I know you think is an unfair comparison 305 00:13:48,700 --> 00:13:50,860 one of the things that's so fascinating 306 00:13:50,860 --> 00:13:53,540 to me is that Amazon and Jeff Bezos have 307 00:13:53,540 --> 00:13:55,060 pursued what might be described as a 308 00:13:55,060 --> 00:13:57,590 very asset heavy business model they're 309 00:13:57,590 --> 00:14:00,170 buying airplanes they want only entire 310 00:14:00,170 --> 00:14:02,200 supply chain from beginning to end and 311 00:14:02,200 --> 00:14:04,970 Alibaba has effectively acted like this 312 00:14:04,970 --> 00:14:06,920 it is very much in terms of the retail 313 00:14:06,920 --> 00:14:09,170 piece of this the opposite you don't 314 00:14:09,170 --> 00:14:10,450 want to own the warehouses you don't 315 00:14:10,450 --> 00:14:13,390 want to own the logistics company how do 316 00:14:13,390 --> 00:14:16,160 you think about that is Jeff Bezos right 317 00:14:16,160 --> 00:14:18,130 or you right and is there is there going 318 00:14:18,130 --> 00:14:20,950 to be a meeting in the middle I hope 319 00:14:20,950 --> 00:14:24,980 both are right and because the world 320 00:14:24,980 --> 00:14:27,130 can never have one model if the world 321 00:14:27,130 --> 00:14:29,480 has only one correct model it was too 322 00:14:29,480 --> 00:14:32,090 boring right we need to have all kinds 323 00:14:32,090 --> 00:14:34,750 of models and the people who do the 324 00:14:34,750 --> 00:14:36,940 model should believe in the model and I 325 00:14:36,940 --> 00:14:40,280 believe what I do right the difference 326 00:14:40,280 --> 00:14:42,860 between Amazon and us Amazon is more 327 00:14:42,860 --> 00:14:45,290 like an empire everything they should 328 00:14:45,290 --> 00:14:48,590 control themselves buy and sell and our 329 00:14:48,590 --> 00:14:50,440 philosophy is that we want to be a 330 00:14:50,440 --> 00:14:53,840 ecosystem our philosophy is to empower 331 00:14:53,840 --> 00:14:58,390 others to sell empower others to 332 00:14:58,390 --> 00:15:01,100 service empower making sure the other 333 00:15:01,100 --> 00:15:03,550 people are more powerful than us making 334 00:15:03,550 --> 00:15:05,920 sure with our technology our innovation 335 00:15:05,920 --> 00:15:08,840 our partners our 10 millions small business 336 00:15:08,840 --> 00:15:12,230 sellers they can compete with Microsoft 337 00:15:12,230 --> 00:15:15,470 IBM our philosophy is that we think 338 00:15:15,470 --> 00:15:18,010 using Internet technology we can make 339 00:15:18,010 --> 00:15:21,230 every company become amazon remember 340 00:15:21,230 --> 00:15:24,860 one thing today for ourselves our GMV last 341 00:15:24,860 --> 00:15:27,120 year is more than 550 342 00:15:27,120 --> 00:15:30,750 billion US dollars too high people 343 00:15:30,750 --> 00:15:33,810 deliver for us we need five million 344 00:15:33,810 --> 00:15:37,490 people so how can we hide five-million 345 00:15:37,490 --> 00:15:37,500 people deliver things for us to deliver 346 00:15:37,500 --> 00:15:39,840 people deliver things for us to deliver 347 00:15:39,840 --> 00:15:42,570 the things we thought the only way we do 348 00:15:42,570 --> 00:15:45,480 is empower the service company no just 349 00:15:45,480 --> 00:15:48,390 companies making sure they are efficient 350 00:15:48,390 --> 00:15:51,180 making sure that they make the money and 351 00:15:51,180 --> 00:15:53,040 making sure that they can hire more 352 00:15:53,040 --> 00:15:54,750 people without owning the whole chain 353 00:15:54,750 --> 00:15:57,090 can you do it as effectively the idea 354 00:15:57,090 --> 00:15:59,400 that you're having watching Amazon being 355 00:15:59,400 --> 00:16:01,410 able to deliver things now within hours literally 356 00:16:01,410 --> 00:16:06,390 we made a hundred twenty five 357 00:16:06,390 --> 00:16:09,930 cities deliver within one day last year 358 00:16:09,930 --> 00:16:13,980 imagine 10 years ago deliver one thing 359 00:16:13,980 --> 00:16:15,840 from Beijing to Hangzhou takes by 360 00:16:15,840 --> 00:16:16,740 the 80 days 361 00:16:16,740 --> 00:16:18,600 now you can deliver things from 362 00:16:18,600 --> 00:16:21,210 from Beijing to in Mongolia some 363 00:16:21,210 --> 00:16:25,680 city within 12 hours it's improving you 364 00:16:25,680 --> 00:16:27,480 can never expect these things happen 365 00:16:27,480 --> 00:16:31,170 within 24 hours we have patients so I 366 00:16:31,170 --> 00:16:34,590 think can you imagine that within 367 00:16:34,590 --> 00:16:38,640 1111 singles day we sold 17 billion 368 00:16:38,640 --> 00:16:41,250 dollars and by 369 00:16:41,250 --> 00:16:43,500 delivering more than 600 million 370 00:16:43,500 --> 00:16:46,050 packages within three days this is 371 00:16:46,050 --> 00:16:48,330 happening and this is what we feel proud 372 00:16:48,330 --> 00:16:50,730 of it's not how much money we make is 373 00:16:50,730 --> 00:16:54,240 not how powerful we are we think because 374 00:16:54,240 --> 00:16:57,120 of the technology we can make the 375 00:16:57,120 --> 00:17:00,420 technology very inclusive that every 376 00:17:00,420 --> 00:17:02,730 small companies can use it this is my 377 00:17:02,730 --> 00:17:05,800 dream because I start my first business 378 00:17:05,800 --> 00:17:09,600 1992 in China as a small business in 379 00:17:09,600 --> 00:17:11,270 order to borrow money 380 00:17:11,270 --> 00:17:15,900 five thousand US dollars from bank took 381 00:17:15,900 --> 00:17:18,950 me three months to acquire still fail so 382 00:17:18,950 --> 00:17:21,200 difficult to be a small business today 383 00:17:21,200 --> 00:17:24,300 with the technology we can empower them 384 00:17:24,300 --> 00:17:26,760 this is something I want to do one of 385 00:17:26,760 --> 00:17:28,050 the critiques as you know and it 386 00:17:28,050 --> 00:17:30,030 continues to linger around Alibaba is 387 00:17:30,030 --> 00:17:31,710 the piracy issue this is a not there's 388 00:17:31,710 --> 00:17:34,740 an IP issue an issue all over China but 389 00:17:34,740 --> 00:17:37,620 it you you take the brunt of a lot of it 390 00:17:37,620 --> 00:17:40,490 now how much progress have you made 391 00:17:40,490 --> 00:17:43,320 in your mind and how do you think about 392 00:17:43,320 --> 00:17:45,360 some of the regulatory bodies and other 393 00:17:45,360 --> 00:17:47,420 countries including the US that continue 394 00:17:47,420 --> 00:17:49,470 to criticize Alibaba for this issues 395 00:17:49,470 --> 00:17:53,220 first when we start do this business as 396 00:17:53,220 --> 00:17:56,620 a business like this size you have to 397 00:17:56,620 --> 00:18:00,360 take all the crazy system you have to 398 00:18:00,360 --> 00:18:03,060 listen what is right what is wrong and 399 00:18:03,060 --> 00:18:06,000 second as ecommerce when you put 10 minutes 400 00:18:06,000 --> 00:18:08,730 small business empower them to sell we 401 00:18:08,730 --> 00:18:11,120 do not like amazon and buy we cannot 402 00:18:11,120 --> 00:18:17,310 even you buy when you buy 550 billion 403 00:18:17,310 --> 00:18:19,400 dollars you cannot check every 404 00:18:19,400 --> 00:18:21,690 products so the model itself and the 405 00:18:21,690 --> 00:18:23,850 e-commerce itself may have a lot of this 406 00:18:23,850 --> 00:18:27,860 false and third I would say in the past 407 00:18:27,860 --> 00:18:33,240 17 years we are the leader of this empty 408 00:18:33,240 --> 00:18:37,700 privacy issues the IP protect IP but 409 00:18:37,700 --> 00:18:39,770 the second we are Internet 410 00:18:39,770 --> 00:18:42,670 companies we do not have the law 411 00:18:42,670 --> 00:18:46,160 enforcement we find this guy is selling 412 00:18:46,160 --> 00:18:47,750 product and cheaper you know fake 413 00:18:47,750 --> 00:18:50,240 products we delete them we cannot arrest 414 00:18:50,240 --> 00:18:54,120 them but we are huge progress last year 415 00:18:54,120 --> 00:18:58,520 alone we put 400 people into juice with 416 00:18:58,520 --> 00:19:02,490 delete a 370 million fake products 417 00:19:02,490 --> 00:19:05,630 listing on our site I want to say we are 418 00:19:05,630 --> 00:19:08,970 the leaders and we are using the big 419 00:19:08,970 --> 00:19:12,890 datas to check who's buying who's 420 00:19:12,890 --> 00:19:15,530 manufacturing who's selling what is there 421 00:19:15,530 --> 00:19:19,160 adress so now I'm happy about the whole 422 00:19:19,160 --> 00:19:21,720 world especially China all the 423 00:19:21,720 --> 00:19:24,690 government organization start to realize 424 00:19:24,690 --> 00:19:26,730 the issues so I would tell you a good 425 00:19:26,730 --> 00:19:30,740 thing is that today when you go to those 426 00:19:30,740 --> 00:19:33,360 criminal group which I call them 427 00:19:33,360 --> 00:19:36,910 criminals those fake products 428 00:19:36,910 --> 00:19:40,160 manufacturers sellers you praise the 429 00:19:40,160 --> 00:19:41,970 quality of some these I would 430 00:19:41,970 --> 00:19:43,010 talk about it later 431 00:19:43,010 --> 00:19:45,890 all right those criminals said that they can go 432 00:19:45,890 --> 00:19:48,360 anywhere but not not taobao or tianmao 433 00:19:48,360 --> 00:19:50,730 because using our data we trace where 434 00:19:50,730 --> 00:19:52,410 they are who they are what is 435 00:19:52,410 --> 00:19:54,840 their adress and I will deliver this to the 436 00:19:54,840 --> 00:19:56,940 Police Station and working with them 437 00:19:56,940 --> 00:19:59,940 the quality issues is something I 438 00:19:59,940 --> 00:20:01,920 want to share with people it's not by 439 00:20:01,920 --> 00:20:04,770 praising the fake products I want to say 440 00:20:04,770 --> 00:20:06,780 that for so many years 441 00:20:06,780 --> 00:20:09,600 those branded companies you have to be 442 00:20:09,600 --> 00:20:12,950 very careful because the fake products 443 00:20:12,950 --> 00:20:17,180 their quality improving is scary 444 00:20:17,180 --> 00:20:19,590 that is the difference between us 445 00:20:19,590 --> 00:20:23,130 because when you find the guys the thing 446 00:20:23,130 --> 00:20:25,950 that people said this is fake and you 447 00:20:25,950 --> 00:20:27,510 have to find people you have found a 448 00:20:27,510 --> 00:20:29,670 third-party institution to check it's 449 00:20:29,670 --> 00:20:32,310 a fake or not we find sometimes the 450 00:20:32,310 --> 00:20:34,890 quality is better and I tell you another 451 00:20:34,890 --> 00:20:37,140 thing is even scary a lot of 452 00:20:37,140 --> 00:20:41,130 there's a one brand company he said we 453 00:20:41,130 --> 00:20:43,260 are selling fake products we check 454 00:20:43,260 --> 00:20:45,840 everything nothing wrong 455 00:20:45,840 --> 00:20:48,240 what is wrong so we buy the product from 456 00:20:48,240 --> 00:20:51,660 his flagship and delivered to them they say this 457 00:20:51,660 --> 00:20:57,120 is a fake you know the thing we buy shop buy 458 00:20:57,140 --> 00:21:00,120 things from the Flag shop of this brand 459 00:21:00,120 --> 00:21:00,140 and deliver back it's the fake products 460 00:21:00,140 --> 00:21:03,000 and deliver back it's the fake products 461 00:21:03,000 --> 00:21:06,300 they say that's a bit confusing this is 462 00:21:06,300 --> 00:21:09,690 fighting against the fake product it's a 463 00:21:09,690 --> 00:21:12,060 wall against the greedy human 464 00:21:12,060 --> 00:21:14,880 greediness it's not easy you cannot 465 00:21:14,880 --> 00:21:17,100 finish it but you have to continue to 466 00:21:17,100 --> 00:21:19,080 fight and I want to say we put two 467 00:21:19,080 --> 00:21:22,590 thousand people 1 billion RMB every 468 00:21:22,590 --> 00:21:25,020 year fighting again bet it can never 469 00:21:25,020 --> 00:21:28,080 finish the war within 2 years but I'm 470 00:21:28,080 --> 00:21:28,530 happy 471 00:21:28,530 --> 00:21:32,220 when people criticize me criticize us 472 00:21:32,220 --> 00:21:35,520 the most important is that we are happy 473 00:21:35,520 --> 00:21:39,210 about the progress we made if people 474 00:21:39,210 --> 00:21:41,460 praise me so you know when people say 475 00:21:41,460 --> 00:21:42,930 jack you're wonderful I know I'm not 476 00:21:42,930 --> 00:21:45,060 wonderful right or alibaba is great 477 00:21:45,060 --> 00:21:47,160 we are not great we're just a 17 year 478 00:21:47,160 --> 00:21:49,500 old company but when people say you're 479 00:21:49,500 --> 00:21:51,150 doing nothing no we're doing a lot of 480 00:21:51,150 --> 00:21:53,640 things but you do not have to argue you do not have 481 00:21:53,640 --> 00:21:56,550 debate you do what you believe one of 482 00:21:56,550 --> 00:21:57,810 the things you mentioned was using big 483 00:21:57,810 --> 00:21:59,460 data on the piracy side but the other 484 00:21:59,460 --> 00:22:00,690 thing that you're using a lot of that 485 00:22:00,690 --> 00:22:03,270 big data to do is provide credit and 486 00:22:03,270 --> 00:22:05,650 effectively banking the unbanked 487 00:22:05,650 --> 00:22:07,060 and what's so fascinating to me and I 488 00:22:07,060 --> 00:22:08,830 hope you'll share it is we talked about 489 00:22:08,830 --> 00:22:11,590 the sesame credit yeah how you are able 490 00:22:11,590 --> 00:22:15,010 to use big data effectively to figure 491 00:22:15,010 --> 00:22:17,890 out who deserves credit and who doesn't 492 00:22:17,890 --> 00:22:21,160 in a marketplace where some of these 493 00:22:21,160 --> 00:22:24,750 people had no credit history before okay 494 00:22:24,750 --> 00:22:28,870 well before we do that we had a system 495 00:22:28,870 --> 00:22:30,880 called teach computers to learn how to 496 00:22:30,880 --> 00:22:33,190 entice fake products teach the computer 497 00:22:33,190 --> 00:22:37,120 to learn how to because we have alipay 498 00:22:37,120 --> 00:22:39,040 a lot of people try to use all the ways to 499 00:22:39,040 --> 00:22:41,890 cheating so we teach the computer how to 500 00:22:41,890 --> 00:22:45,730 do that the cheating things so we've 501 00:22:45,730 --> 00:22:47,800 been doing that for 10 years until now 502 00:22:47,800 --> 00:22:49,690 there's called artificial intelligence 503 00:22:49,690 --> 00:22:54,310 because we're doing that we are a data 504 00:22:54,310 --> 00:22:58,240 company eight years ago we said to 505 00:22:58,240 --> 00:22:58,930 ourselves 506 00:22:58,930 --> 00:23:00,430 Alibaba should not be an e-commerce 507 00:23:00,430 --> 00:23:02,530 company we should be a data company 508 00:23:02,530 --> 00:23:04,330 because we have the data from consumers who have 509 00:23:04,330 --> 00:23:07,630 data from the manufacturer we have datas 510 00:23:07,630 --> 00:23:10,060 from logistic companies and transactions 511 00:23:10,060 --> 00:23:12,250 but we think how we can make a data 512 00:23:12,250 --> 00:23:15,670 really beneficiary to the society what 513 00:23:15,670 --> 00:23:17,380 China needs is that we have a lot of 514 00:23:17,380 --> 00:23:21,580 great people all the small business if 515 00:23:21,580 --> 00:23:23,590 they have a very they're very credible 516 00:23:23,590 --> 00:23:25,090 but the other we don't have a credit 517 00:23:25,090 --> 00:23:27,970 system for that so how can we using a 518 00:23:27,970 --> 00:23:31,090 credit rating system based on the datas 519 00:23:31,090 --> 00:23:34,750 we have put it giving everybody a sesame 520 00:23:34,750 --> 00:23:39,430 a rating system that is so powerful in 521 00:23:39,430 --> 00:23:41,830 the past four years because every 522 00:23:41,830 --> 00:23:44,020 individual every small business if they 523 00:23:44,020 --> 00:23:46,510 have been using our services we give them 524 00:23:46,510 --> 00:23:48,820 rating system so we're giving loans in 525 00:23:48,820 --> 00:23:51,310 the past five years we giving five 526 00:23:51,310 --> 00:23:54,520 million business loans they only bought 527 00:23:54,520 --> 00:23:58,090 borrowed $5,000 three minutes we can 528 00:23:58,090 --> 00:23:59,770 decide whether we should give you money 529 00:23:59,770 --> 00:24:01,990 how much money give within one 530 00:24:01,990 --> 00:24:04,030 second the money will be in your count 531 00:24:04,030 --> 00:24:06,640 and zero people touch so we call it 532 00:24:06,640 --> 00:24:09,760 three one zero and even today the sesame 533 00:24:09,760 --> 00:24:13,000 rating system become people dating the 534 00:24:13,000 --> 00:24:15,490 mother-in-law want to say hey you want 535 00:24:15,490 --> 00:24:17,580 to dating with my daughter show me 536 00:24:17,580 --> 00:24:20,340 your rating system of the sesame cart so 537 00:24:20,340 --> 00:24:23,100 it's so funny we go to the people want 538 00:24:23,100 --> 00:24:24,630 to rent a car people want to rent a 539 00:24:24,630 --> 00:24:26,370 bicycle they will say show me your 540 00:24:26,370 --> 00:24:29,420 sesame carts mmm good because if they do 541 00:24:29,420 --> 00:24:31,980 not have paid back if they do not 542 00:24:31,980 --> 00:24:33,720 fulfill the radiuses are going to low 543 00:24:33,720 --> 00:24:35,640 down and they can never rent a house 544 00:24:35,640 --> 00:24:37,710 right this is what we want to do that 545 00:24:37,710 --> 00:24:41,310 the system that if you sell or buy fake 546 00:24:41,310 --> 00:24:45,360 products the sesame cars will show 547 00:24:45,360 --> 00:24:47,490 we open up to questions but a final one for me 548 00:24:47,490 --> 00:24:48,990 there's been a lot of speculation that 549 00:24:48,990 --> 00:24:50,100 you're going to get into the business of 550 00:24:50,100 --> 00:24:52,620 Hollywood your name has appeared Alibaba 551 00:24:52,620 --> 00:24:55,080 Group at the beginning of a couple of 552 00:24:55,080 --> 00:24:56,270 big films recently 553 00:24:56,270 --> 00:24:59,700 what is the ambition for Alibaba in the 554 00:24:59,700 --> 00:25:00,770 entertainment world 555 00:25:00,770 --> 00:25:04,620 um the beginning were like this several 556 00:25:04,620 --> 00:25:07,380 years we every five years we have a 557 00:25:07,380 --> 00:25:10,010 review for our strategy now our strategy is 558 00:25:10,010 --> 00:25:12,590 always look at the 30 years and 10 years 559 00:25:12,590 --> 00:25:16,350 every strategic decisions we make we 560 00:25:16,350 --> 00:25:18,650 have to ask one question if 561 00:25:18,650 --> 00:25:22,280 this decision we make solve society 562 00:25:22,280 --> 00:25:24,600 problems because we believe the bigger 563 00:25:24,600 --> 00:25:26,970 social problem you solve the more 564 00:25:26,970 --> 00:25:29,540 successful you are so if we do this 565 00:25:29,540 --> 00:25:31,830 cannot solve any social problems we 566 00:25:31,830 --> 00:25:34,380 don't do it second is this project is 567 00:25:34,380 --> 00:25:37,500 going to be successful in 10 years if 568 00:25:37,500 --> 00:25:40,320 it's going to be successful in 10 years 569 00:25:40,320 --> 00:25:42,210 let's do it if it's going to be 570 00:25:42,210 --> 00:25:44,880 successful in one year or one month 571 00:25:44,880 --> 00:25:48,360 normally I say forget about it because 572 00:25:48,360 --> 00:25:51,000 why you can be successful in one year or 573 00:25:51,000 --> 00:25:53,760 one mouth so we all have to put term and 574 00:25:53,760 --> 00:25:57,020 five years ago we had a big debate about 575 00:25:57,020 --> 00:26:00,170 10 years later 20 years what are the 576 00:26:00,170 --> 00:26:02,510 things the China Society the world want 577 00:26:02,510 --> 00:26:06,840 so we say happiness and health 2 H 578 00:26:06,840 --> 00:26:09,960 strategy happiness and health we 579 00:26:09,960 --> 00:26:12,260 believe hollywood you know the movie 580 00:26:12,260 --> 00:26:15,530 industry bring people happy because today 581 00:26:15,530 --> 00:26:17,340 nobody is happy rich people no happy 582 00:26:17,340 --> 00:26:19,710 poor people no happy you know at least 583 00:26:19,710 --> 00:26:21,390 where I watch movie you're happy but 584 00:26:21,390 --> 00:26:24,840 but so I think we should partner with 585 00:26:24,840 --> 00:26:27,790 the Hollywood especially like a lot of 586 00:26:27,790 --> 00:26:30,170 you know we have a different way of 587 00:26:30,170 --> 00:26:30,990 living 588 00:26:30,990 --> 00:26:34,110 in China the movie we have a lot of 589 00:26:34,110 --> 00:26:36,330 heroes but China movie's heroes always dead 590 00:26:36,330 --> 00:26:38,910 the American movie hero never 591 00:26:38,910 --> 00:26:43,380 die if all the heroes die who want to 592 00:26:43,380 --> 00:26:46,710 be the hero so my movie I want to make 593 00:26:46,710 --> 00:26:49,890 the hero live right so this is this 594 00:26:49,890 --> 00:26:51,920 is I think we should learn a lot and 595 00:26:51,920 --> 00:26:54,570 it's all about two years so we have 596 00:26:54,570 --> 00:26:57,270 another eight years to go I want to make 597 00:26:57,270 --> 00:27:03,420 our company that it's not ecommerce it's 598 00:27:03,420 --> 00:27:04,910 something that giving people 599 00:27:04,910 --> 00:27:07,890 inspirations given people because I 600 00:27:07,890 --> 00:27:10,710 learn a lot for example I will say that 601 00:27:10,710 --> 00:27:14,760 my favorite movie Forrest Gump 602 00:27:14,760 --> 00:27:18,150 you know life is tough this is I learned and 603 00:27:18,150 --> 00:27:21,290 that inspired me that is why when people 604 00:27:21,290 --> 00:27:24,330 call me crazy stupid past 17 years 605 00:27:24,330 --> 00:27:26,100 you're crazy you are doing something never 606 00:27:26,100 --> 00:27:28,590 work you're stupid how can do that model 607 00:27:28,590 --> 00:27:31,080 amazon this model eBay this model 608 00:27:31,080 --> 00:27:34,200 wyh aliBaba this model I told myself Forrest Gump 609 00:27:34,200 --> 00:27:36,660 said go ahead never care about 610 00:27:36,660 --> 00:27:38,280 what the other people and the other 611 00:27:38,280 --> 00:27:40,650 thing Forrest Gump said nobody make 612 00:27:40,650 --> 00:27:43,320 money out of the catch whales people 613 00:27:43,320 --> 00:27:46,950 make money by catching shrimps so we 614 00:27:46,950 --> 00:27:50,100 serve small business fair enough 615 00:27:50,100 --> 00:27:52,860 Jack Ma we should probably end it there 616 00:27:52,860 --> 00:27:54,720 it going to run out of time but I 617 00:27:54,720 --> 00:27:56,850 thank you I thank you so much for the 618 00:27:56,850 --> 00:27:59,100 conversation I promise we speak in a 619 00:27:59,100 --> 00:28:00,540 question or two when we literally have 620 00:28:00,540 --> 00:28:01,440 two minutes and they're going to get 621 00:28:01,440 --> 00:28:03,000 upset with me if you have a 622 00:28:03,000 --> 00:28:05,010 question of and we're going to yeah 623 00:28:05,010 --> 00:28:06,840 I got beg you to do it within literally 624 00:28:06,840 --> 00:28:08,400 you know a second to go for it right 625 00:28:08,400 --> 00:28:09,970 there 626 00:28:19,680 --> 00:28:23,200 well I don't think so I think China and 627 00:28:23,200 --> 00:28:25,240 US should never have a trade or will 628 00:28:25,240 --> 00:28:28,120 never have a trade war and I think we 629 00:28:28,120 --> 00:28:29,740 should giving president elect Donald 630 00:28:29,740 --> 00:28:31,890 Trump some time and he's open-minded 631 00:28:31,890 --> 00:28:36,820 he's listening and I think the world is 632 00:28:36,820 --> 00:28:40,150 so easy to launch a war but it's so 633 00:28:40,150 --> 00:28:43,090 difficult almost impossible sometimes to 634 00:28:43,090 --> 00:28:45,460 terminated a war the Iraq war Afghanistan 635 00:28:45,460 --> 00:28:49,990 war is that finished no trade war I 636 00:28:49,990 --> 00:28:53,500 believe one thing when trade stops the 637 00:28:53,500 --> 00:28:56,740 war starts trade is something that 638 00:28:56,740 --> 00:28:59,080 people start to communicate trade is 639 00:28:59,080 --> 00:29:01,000 something people exchange culture and 640 00:29:01,000 --> 00:29:04,780 Value and I will be happy if China USA 641 00:29:04,780 --> 00:29:06,700 agree on something and Alibaba business 642 00:29:06,700 --> 00:29:09,700 business model destroyed I will destroy 643 00:29:09,700 --> 00:29:11,560 Alibaba model by stopping the war 644 00:29:11,560 --> 00:29:14,410 because how can you imagine the 645 00:29:14,410 --> 00:29:16,720 first largest economy of the world 646 00:29:16,720 --> 00:29:19,330 second largest economy of the world have 647 00:29:19,330 --> 00:29:21,760 a trada war it's going to be a disaster 648 00:29:21,760 --> 00:29:24,040 for two countries and for the world if 649 00:29:24,040 --> 00:29:25,870 we can anybody can do something to stop 650 00:29:25,870 --> 00:29:27,850 it do anything to stop it 651 00:29:27,850 --> 00:29:30,430 did you reaction to trump the 652 00:29:30,430 --> 00:29:32,170 situation with Taiwan and how he's 653 00:29:32,170 --> 00:29:35,650 thinking about that well Taiwan I think 654 00:29:35,650 --> 00:29:38,250 this is this is not the something about 655 00:29:38,250 --> 00:29:41,380 government this is not something about 656 00:29:41,380 --> 00:29:42,970 business this is something about people 657 00:29:42,970 --> 00:29:45,970 if the taiwan issue is the population 658 00:29:45,970 --> 00:29:49,090 if you do taiwan issue it like against 1.4 659 00:29:49,090 --> 00:29:51,960 billion people so this is another issue 660 00:29:51,960 --> 00:29:54,790 so we're talking about trade we're not 661 00:29:54,790 --> 00:29:58,630 talking about Taiwan very politic let's 662 00:29:58,630 --> 00:30:00,340 take one final question if we can I 663 00:30:00,340 --> 00:30:03,040 think we can still one we're in yes 664 00:30:03,040 --> 00:30:03,670 there right there 665 00:30:03,670 --> 00:30:05,890 I'm not politicion 666 00:30:05,890 --> 00:30:09,070 how do you assure you are 667 00:30:09,070 --> 00:30:11,680 not messing up these people's life and 668 00:30:11,680 --> 00:30:14,410 you are not dictating the whole you know 669 00:30:14,410 --> 00:30:17,410 credit Kingdom over the system because 670 00:30:17,410 --> 00:30:19,780 now you are the decision-makers you are 671 00:30:19,780 --> 00:30:22,990 the rule makers okay first I'm not sure 672 00:30:22,990 --> 00:30:25,970 people say Oh this is uncertain 673 00:30:25,970 --> 00:30:29,510 world everyday is uncertain the only 674 00:30:29,510 --> 00:30:31,360 certain day was yesterday 675 00:30:31,360 --> 00:30:35,000 I'm not sure about that in the future 676 00:30:35,000 --> 00:30:37,130 I would dictate I would be stupid 677 00:30:37,130 --> 00:30:40,310 that's why I should retire early when 678 00:30:40,310 --> 00:30:40,940 I'm young 679 00:30:40,940 --> 00:30:43,280 that is why I have a lot of things that 680 00:30:43,280 --> 00:30:44,810 to dream I want to do I want to philanthropic 681 00:30:44,810 --> 00:30:46,420 I want to be a teacher I want to 682 00:30:46,420 --> 00:30:48,040 go back to school I want to do the 683 00:30:48,040 --> 00:30:50,510 environment and the world is so 684 00:30:50,510 --> 00:30:52,190 wonderful why you should be the CEO 685 00:30:52,190 --> 00:30:55,250 for Alibaba all the time I'm coming to this 686 00:30:55,250 --> 00:30:58,660 world not to work I want to come to this world 687 00:30:58,660 --> 00:31:00,520 to enjoy my life I don't want to 688 00:31:00,520 --> 00:31:02,150 die my office I want to die on the 689 00:31:02,150 --> 00:31:05,920 beaches it's a wonderful message Jack Ma 690 00:31:05,920 --> 00:31:09,270 thank you for the Conversation well can I say one last please 691 00:31:09,270 --> 00:31:11,960 I just want to give my last advice to any people 692 00:31:11,960 --> 00:31:13,900 here that every government should pay 693 00:31:13,900 --> 00:31:16,900 attention to in the next 30 years a 694 00:31:16,900 --> 00:31:20,090 critical for the world every 695 00:31:20,090 --> 00:31:21,770 technical revolution takes by 696 00:31:21,770 --> 00:31:24,320 50 years the first 20 years technology 697 00:31:24,320 --> 00:31:26,990 company next 30 years the application 698 00:31:26,990 --> 00:31:30,950 of the technology focus on next 30 699 00:31:30,950 --> 00:31:33,970 years the first 20 years eBay Amazon 700 00:31:33,970 --> 00:31:39,020 Facebook Alibaba Google good the most 701 00:31:39,020 --> 00:31:41,000 important is that make the technology 702 00:31:41,000 --> 00:31:43,900 inclusive make the world change this 30 703 00:31:43,900 --> 00:31:46,580 years next pay attention to those people 704 00:31:46,580 --> 00:31:49,820 who are 30 years old because those are 705 00:31:49,820 --> 00:31:51,380 the international generation internet 706 00:31:51,380 --> 00:31:53,840 generation they will change the world 707 00:31:53,840 --> 00:31:56,570 they are the builder of the world third 708 00:31:56,570 --> 00:31:59,410 let's pay attention to the company 709 00:31:59,410 --> 00:32:01,820 who have fewer that 30 710 00:32:01,820 --> 00:32:06,830 employees so 30 years and 30 years old 711 00:32:06,830 --> 00:32:10,190 and 30 employees that would can make the 712 00:32:10,190 --> 00:32:12,650 world much better Jack Ma thank you very 713 00:32:12,650 --> 00:32:16,520 very much thank you thank you thank you 714 00:32:16,520 --> 00:32:21,360 [Applause]