Trump believes China's Alibaba will create 1 million US jobs - here's why it's not impossible

Advertisement

President-elect Donald Trump met with Alibaba's founder Jack Ma earlier this week to discuss plans to create one million US jobs by allowing American businesses sell to China through the company's online platform.

Advertisement

That's a huge number but it's not an entirely far-fetched dream, if you look at the market potential. As seen in this chart by Statista, China's retail e-commerce sales is growing at a mind-boggling pace: It's forecast to become worth $840 billion by 2021, almost double the estimated size of the US e-commerce sales in the same period ($485 billion).

Add that to the fact that China has a massive 300 million-plus middle-class population and a growing appetite for foreign products (cross-border sales in China is expected to surpass $150 billion by 2020), and Trump-Alibaba's one million job creation goal starts to sound plausible.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

China online

Statista

NOW WATCH: The story of Lisa Brennan-Jobs, the daughter Steve Jobs claimed wasn't his