The founder of Alibaba called “destroy” protectionism in trade

The founder of Alibaba called “destroy” protectionism in trade

We need to unite the efforts of the government, business, non-governmental organizations and other stakeholders for the destruction of trade protectionism, said the founder of the Chinese giant e-Commerce company Alibaba, Jack MA.

BOAO (China), 23 Mar. Zhanna Manukyan. Founder of the Chinese giant e-Commerce company Alibaba Jack MA has called to “destroy” protectionism in world trade and to allow more countries to benefit from it.

“Let’s join the efforts of the government, business, non-governmental organizations and other stakeholders. Let’s try to destroy trade protectionism. There are so many regional protectionism (in trade — ed.). They protect their interests, which cause so many conflicts,” said MA.

“For example, before the existence of the TRANS-Pacific partnership (TPP), have already started to say” this is our block, this is your unit.” Also, how did the trade..”, said Jack MA, speaking at an economic tuyere in Boao. He stressed that such a mechanism “never works”. “Let’s let more countries benefit from trade,” added the Chinese billionaire.

Many experts have noted that in the Asia Pacific region now is the competition between two powerful groups that are attempting to create a free trade regime. The first is the TRANS-Pacific partnership led by the United States — the Union, covering trade not only in goods but also services and intellectual property rights.

The TPP agreement was concluded on 5 October between 12 countries — the USA, Canada and Mexico in North America, Peru and Chile to the South, Japan, Malaysia, Brunei, Singapore and Vietnam in Asia as well as Australia and New Zealand. Commenting on the establishment of TTP, President Barack Obama said that this partnership is a response to the growing economic influence of China. The TRANS-Pacific partnership intends to counteract.

The second group of countries led by China is negotiating for the establishment of a Comprehensive regional economic partnership with not-so-deep trade liberalization. On the official level, the idea to create WRAP was announced in 2011, and in 2012 it was announced the beginning of negotiations. Wrap includes the ten ASEAN members and six partners free trade — Australia, India, China, New Zealand, South Korea and Japan.

These two alternative models of regional economic integration can operate in parallel, some countries may be members of two associations. However, experts note that the integration process can go on either of these two ways that will lead to the strengthening of the positions of either the U.S. or China.