Alibaba CEO Ma warns of 'war' if free trade stops

Jack Ma, the chief executive of huge Chinese online retailer Alibaba, has warned that the end of free trade would bring about a global conflict, and spoken about the benefits that globalisation has for world economies.

During the launch of Alibaba's new headquarters in Australia and New Zealand, Ma did not specifically mention the policies of US President Donald Trump or the trade fallout from Britain's exit from the European Union, but promoted "fair, transparent and inclusive trade".

Ma and Trump met at Trump Tower last month, before announcing that Alibaba would help to create over one million jobs in the US.

"Everybody is concerned about trade wars. If trade stops, war starts," Ma said at the launch in Melbourne.

"But worry doesn't solve the problem," he added. "The only thing you can do is get involved and actively prove that trade helps people to communicate. We should have fair, transparent and inclusive trade."

One of Trump's first actions as US President was to take the country out of the Trans-Pacific Partnership trade deal, which stopped the free trade initiative with 11 countries, including the likes of Mexico, Japan and Singapore. He has also said that the US will seek a renegotiation of the NAFTA trade deal.

The impact of Brexit may have a significant effect on global trade, especially after Prime Minister Theresa May's assertion that Britain would leave the EU single market.

The Alibaba boss added that trade was an important way of aiding communication amongst different nations.

"The world needs globalisation, it needs to trade," he said. "Trade is about trust and cultural exchange."