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Fortune

Lionel Lim

China’s way to drive economic growth is getting consumers to unleash $20 trillion of rainy-day savings, says Alibaba chair Joe Tsai

Joe Tsai Alibaba China United States Xi Jinping

(Credit: Courtesy of CONVERGE LIVE)

“Tariffs and geopolitics” mean that the world’s second-largest economy can’t rely as much on the export sector for growth, Alibaba chair Joe Tsai argued on Wednesday.

Instead, domestic consumption needs to take over, Tsai said at CNBC’s Converge Live conference on Wednesday.

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