US trying to contain rise of China: Alibaba executive

A Chinese and US flag at a booth during the first China International Import Expo in Shanghai, China, on Nov 6, 2018.
A Chinese and US flag at a booth during the first China International Import Expo in Shanghai, China, on Nov 6, 2018.PHOTO: AFP

HONG KONG (REUTERS) - The Sino-US trade war has spurred anti-China sentiment, a senior Alibaba Group Holding executive said, adding that the United States was trying to contain the rise of China.

Joe Tsai, the Chinese e-commerce giant's executive vice-chairman, termed the US government's treatment of Chinese smartphone and network-gear maker Huawei "extremely unfair" and "very politically motivated".

Tsai, speaking at a Reuters BreakingViews event on Friday, said US regulators had made it very difficult for Alibaba to make investments in the country, adding that the company would look at other parts of the world for investment.

He struck an optimistic note about China and said people were overworried about the country's economy, adding that Chinese consumers were still fundamentally very strong.

Comments from Tsai come at a time when China's economic growth has slowed to its weakest pace in nearly three decades amid faltering domestic demand and bruising US tariffs.