US-China trade war could last 20 years: Jack Ma
Beijing, Sep 19 : Tech tycoon Jack Ma has told investors to hunker down for a drawn out trade war between the US and China that can last for upto 20 years.
"It's going to last long, it's going to be a mess," Ma, the founder and executive chairman of Alibaba, said on Tuesday at an annual conference for Alibaba investors.
Just hours after the Trump administration slapped a new round of tariffs on Chinese goods worth $200 billion, Ma said the US-China trade war will last not for 20 months or 20 days, but "maybe 20 years".
That would mean no easing of tensions between the world's top two economies for many years after President Donald Trump has left office, even if he serves a second term, the CNN reported.
While the tech billionaire dismissed speculation that geopolitical headwinds played a part in the surprise announcement of his retirement last week, he acknowledged that the ongoing spat with China's largest trade partner is hurting Alibaba's business.
Shares in Alibaba closed 3.5 per cent lower on Monday. The company's stock is down 25 per cent from its all-time high in June.
Ma said a lot of businesses in China and the US will be in trouble in the short term, and eventually, Chinese firms will be forced to turn to other countries, CNN reported.
Ma said the trade war is "against China" but also criticised his country's policies, urging leaders to view the pain inflicted by Trump's tariffs as an opportunity to "upgrade". "China must open the market," he added.
Ma reassured investors that the $410 billion company he helped build is in safe hands. He announced last week that he will step down from Alibaba in a year's time, handing over the reins to CEO Daniel Zhang.
"I'm 100% sure Daniel will do a better job than I do," Ma said. The 54-year-old former teacher repeated his desire to pursue a new career, likely in the field of education.
"I'm not sad at all. I think I'm still young," he said. "In Alibaba I'm old, but in my career I'm still young."
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Sound effect: Farmers play music on solar-powered speakers to keep tigers at bay in Pilibhit
Pilibhit (UP) (PTI): Farmers living in villages adjoining the Mala range of Pilibhit Tiger Reserve have devised an unusual method to keep tigers away from their fields during sugarcane harvesting – playing loud music on solar-powered sound systems.
According to the farmers, the continuous noise helps deter wild animals from entering their fields.
As sugarcane fields are dense and the visibility is low, the risk of sudden encounters with tigers remains high during the harvesting season.
Forest officials described the initiative as a “desi jugaad” that not only enhances safety but also adds an element of entertainment, with loud music echoing across the fields during work hours.
The method has emerged as a unique way to check human-animal conflict.
Ramnagaria, Ajitpur, Jamunia, Mahua, Mala Ghera, Richhola and Basantapur are among the villages located close to the Mala range that frequently witness tiger movement, keeping the residents on edge. Recently, fresh tiger pugmarks were found in a field in Mahua.
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According to forest officials, Krishna Kumar and his associates in Jamunia village pioneered the “musical” method to deal with the threat.
“Working in the dense sugarcane fields is risky business. We believe wild animals move away due to noise, so playing songs loudly helps keep them at a distance,” Kumar said.
The method is proving effective, enabling farmers to carry out agricultural activities in groups without fear, the villagers said.
Several farmers, including Gaurishankar, Tinku, Ram Bahadur, Rakesh Kumar, Prabhu Dayal and Lalaram, have joined Kumar in implementing this innovative approach.
Deputy Ranger Sher Singh said the forest department is also making continuous efforts to spread awareness among the villagers.
“The department is organising meetings to educate farmers about safe and scientific methods to protect themselves from wildlife,” he told reporters.
