Jack Ma is a Chinese billionaire who runs a company called Alibaba. It’s something like eBay on steroids, providing consumer-to-consumer, business-to-consumer, and business-to-business sales opportunities.
After meeting with President-elect Donald Trump, Ma noted that he wants to expand in the U.S. – especially the Midwest – in the areas of clothes, wine, and fruits.
“We are focused on small business. We specifically talked about… supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products – agricultural products and American services – to China and Asia, because we’re pretty big in Asia.”
“Because we’re pretty big in Asia” may be the understatement of the new century.
Alibaba’s goal is to create 1 million jobs in America over five years. They currently employ about 36,000 people in China, but they claim 10 million active sellers. And Alibaba spokesman said their company has “contributed to the creation of over 15 million job opportunities.”
To put their plans and perspective, Amazon.com employees about 230,000 people and Walmart employs about 1.5 million in the U.S. These one million jobs are not going to be Alibaba employees, Americans working for a Chinese company, they will be owners and employees of small businesses here in the U.S.
Something Barack Obama never understood – and Democrats will never understand – is that creating “government jobs” doesn’t boost the economy. Neither does catering to your crony capitalist political fundraisers by giving them breaks that do nothing but reduce competition, raise prices, and robbed the American taxpayer. See Solyndra.
The engine of the American economy, and American prosperity, is a small business. Small businesses have historically driven virtually all growth in jobs and Barack Obama and the Democratic Party have spent their careers – and especially the last eight years – taxing and regulating small businesses out of existence.
Donald Trump’s plan to cut regulation and reduce business taxes and that should provide incentive for small business owners to expand their businesses and for entrepreneurs to start new businesses.
It’s a very reasonable to expect, unless Congressional Republicans like John McCain and Lindsey Graham get in the way, we will finally see the end of the Obama recession. During his eight years in office the number of people not working and not looking for work has grown over 20% to over 95 million. If Donald Trump and the Congress can work together to improve the business climate small businesses will grow and will see that 95 million number begin to come down.
Only nine more days! January 20th can’t come soon enough.
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