World Needs to Deepen Globalization to Broaden Opportunities: Jack Ma

The world needs to deepen globalization to seek more opportunities for the development of the global economy, Jack Ma, founder and chairman of e-commerce giant Alibaba, said on Wednesday. Ma made the remarks in his hometown of Hangzhou City in east China's Zhejiang Province, which will play host to the forthcoming G20 Summit. He said that the world needs to find a new mechanism to enable more people to get involved in the global economy. "Globalization is good for the world. But it needs to be perfected. We should take measures to make it better rather than deny it when we are now faced with economic imbalance and other problems. I think it is our opportunity in the next two or three decades to find out the mechanisms that will enable Small and Medium Enterprises (SMEs), developing countries and young people the chance to share the benefit of globalization," he said. Ma believes economic leaders should not doubt adopting a more open attitude, and should take measures to deepen openness to seek wider opportunities. "The world has benefited from our attitude of opening up to others, and this attitude will continue to benefit us in the future. So we must deepen this level of openness. I want to say that the progress of this city, of myself and my enterprise would never have been achieved without an openness towards others," he said, referring to his native Hangzhou. This year's G20 Summit comes at a time when the global economy has continued to struggle on the road to a fragile recovery, and Ma said the world expects a new sense of direction from the meeting. "We have seen that the world economy is now faced with a very complicit situation -- the depression of the European economy, the problems emerging in the U.S. economy and the pain of transformation in the Chinese economy. So the world anticipates new paths of development in multilateral mechanisms such as the G20 and B20. They are especially interested in how China's One Belt and One Road initiative can help the development of SMEs, developing countries and achieve the goal of common prosperity," he said. Ma added that Hangzhou's hosting of the G20 summit on September 4-5 will offer a great boost to the city's development. "I think Hangzhou will become more open and more international after hosting the G20 Summit. It will also assume a bigger responsibility on the global stage. I think more international tourists will come to visit the city. Hopefully, they will not only explore the beauty of the West Lake, but also experience the culture and characteristics of the city. I think the summit will bring a big change to the city," said Ma. More on: http://www.cctvplus.com/news/20160901/8031066.shtml#!language=1 Subscribe us on Youtube: https://www.youtube.com/c/CCTVPlus CCTV+ official website: http://www.cctvplus.com/ LinkedIn: https://www.linkedin.com/company/cctv-news-content Facebook: https://www.facebook.com/NewsContent.CCTVPLUS Twitter: https://twitter.com/CCTV_Plus