He promised to create around 1 million new jobs in America. This is courtesy of his online trading company, Taobao , which is Alibaba's e-commerce platform. Ma promised to open it up for America's small businesses to have unlimited access to China's 1.3 billion active markets.
The companies will advertise their merchandise on the platform, hence bringing in new jobs as rates of unemployment have been at an all-time low for the past nine years.
Jack Ma is great at PR and Trump is a sucker for anybody who kisses his whatever," said Harley Lewin, a partner at New York law firm McCarter & English, "Ma is going to say that because those are the buzzwords that appeal to the incoming administration."
While it may look good on paper, practically it will be difficult for American businesses to make much headway in China. This is because of the trade imbalance that Trump kept complaining about in his campaigns, the availability of cheap goods made in China which American businesses cannot compete with.
Government subsidies that favor Chinese goods, the cost of moving property and counterfeit goods will do in the American businesses that will attempt to venture into the Chinese market.
Alibaba spokesman Robert Christie is of a different view, though and still believes that American goods can make a huge impact on the Chinese market, especially in the cosmetics and beauty industry.