US Infrastructure Dire Because “Trillions Spent on Wars”

America’s infrastructure is in a dire state because successive U.S. administrations have spent trillions on wars rather than investing in their own country, the Chinese billionaire entrepreneur and founder of the e-commerce company Alibaba, Jack Ma, has said.

Speaking at the World Economic Forum in Davos, Switzerland, Ma was asked in an interview by CNBC about the U.S. economy in relation to China in light of President Donald Trump’s proposals about tariffs on Chinese imports.

Ma, whose company is one of the biggest online sources for Chinese exports to the West, replied that blaming China for any economic issues in the U.S. is “misguided.”

“If America is looking to blame anyone,” Ma said, “it should blame itself.

“It’s not that other countries steal jobs from you guys,” Ma said. “It’s your strategy. Distribute the money and things in a proper way.”

He said the U.S. has wasted over $14 trillion in fighting wars over the past 30 years rather than investing in infrastructure at home.

The war in Iraq—fought on lies that Saddam Hussein had “weapons of mass destruction”—cost the U.S. over $2 trillion alone, with an additional $490 billion in benefits owed to war veterans, expenses that could grow to more than $6 trillion over the next four decades counting interest.

Furthermore, a $212 billion “reconstruction effort” was a failure with most of that money spent on security or lost to waste and fraud, a study showed.

Ma said waste such as that in Iraq was the reason America’s economic growth had weakened, not China’s “supposed theft of jobs.”

“The American multinational companies made millions and millions of dollars from globalization,” Ma said. “The past 30 years, IBM, Cisco, Microsoft, they’ve made tens of millions—the profits they’ve made are much more than the four Chinese banks put together. … But where did the money go?”

He said the U.S. is not distributing, or investing, its money properly, and that’s why many people in the country feel wracked with economic anxiety.

He said too much money flows to Wall Street and Silicon Valley. Instead, the country should be helping the Midwest, and Americans “not good in schooling,” too.

“You’re supposed to spend money on your own people,” Ma said. “Not everybody can pass Harvard, like me.”

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  1. Excellent article, especially the unknown cost of healthcare for all those that served in Iraq & Afghanistan, because in many cases, PTSD doesn’t happen overnight, this will be ongoing for a lot of years to come, and this is true of us in the UK. All the service industries are funded by a country’s economy through taxes based on manufacturing output both from the companies and their employees. From living in the real world, no company can survive if they can’t sell their goods, nor do shops etc., and whilst every individual is expected to live within their income, politicians seem to have forgotten that because the money they spend they haven’t earned and does not belong to them. Good luck Mr Trump, you’ve got a battle on your hands and past administrations failed the people, again I believe this is the case in the UK.

  2. I agree, I think the first step is disband the fraud called the United Nations. A cesspool of third world crap holes are there for only one reason, suck wealth from the prosperous and industrious west. Go back to your own countries and figure it out for yourself.

  3. If Trump does as Ma says and as he claims is his intention then let`s hope he`s successful. It`s high time they had a US President wanting to build up wealth at home rather than wasting money and lives on gung-ho adventures.
    The UK would also do well to follow the same policy instead of forever hanging on US coat tails as Blair did.

  4. Ma makes a lot of sense. In my many
    years the US was always in some sort of
    conflict. He did not mention trillions in
    foreign aid especially to israel.

  5. I’m glad someone finally spoke the truth. I’d have rather a Western economist said it rather than a Chinese billionaire though. Pentagon? Hello, are you listening?

  6. The State, USA in particular, now thinks of itself as an active force in its own right. States suck as much money as they can from taxes, other countries, selling assets, and loans; then do what these unhealthy desk jockey fantasists want – wars, destruction, waste, futile excitement. Their activities are largely genetically-driven: ideal for fanatical death-dealers, disaster for everyone else.

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