The trade relations between China and the US have hit a new low with the swearing-in of US President Donald Trump. Nonetheless, Chinese business tycoons have expressed their optimism that the two countries will be able to overcome their differences. Alibaba founder Jack Ma is one of the people who hold this hopeful perspective.

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Speaking at the Davos World Economic Forum, Ma stated that America's economic problems were not created by China. He stressed that the US is responsible for its economic turmoil.

Ma added that the United States has splashed nearly $14 trillion in waging costly wars, instead of investing these funds in developing its infrastructure.

He said that China did not steal any jobs from the United States. Ma claimed that the decreasing jobs in the US are also due to strategic mistakes made by the country such as controlling intellectual property rights. Alibaba founder said that this move left lower level tasks to be carried out by other countries.

Earlier this month, Ma met the US President Donald Trump. After the meeting, Ma unveiled his plan to create more jobs in the US. He also put forth a plan to market more American products.

In Davos, Ma stated that his meeting with the US President was more productive than expected. He said that the main focus WAS on China-US trade and state-owned companies. Ma emphasized that it is easy to start the trade war, but difficult to end It.

China and US have seen a consistent rise in their bi-lateral trade volume. The countries generated $519.6 billion worth of trade in 2016.

TagsDavos, donald trump, Jack Ma, Alibaba, World Economic Forum