JD.com Founder Downplays Potential US Trade War, Says Technology Unstoppable

| Dec 11, 2016 08:08 PM EST

JD.com CEO and founder Richard Liu speaks to employees during the company's initial public offering (IPO) on NASDAW in 2014 in New York City.

Richard Liu, founder and CEO of JD.com, dismissed the possibility that a trade war between the U.S. and China will affect the company, and said he is not worried about it, CNBC reported.

"I don't think Mr. Trump would be a big issue for JD.com because we mainly focus on bringing American goods into China, and I believe through cooperation both sides can benefit."

Liu added: "Technology will not be stopped."

Next to Alibaba, JD.com is the second biggest online retailer in China, selling billions of dollars of imported goods, most of them American, from appliances to clothing apparel to groceries.

On potential changes in the U.S. trade policy, Liu said he was not too concerned about it. "Now is the era of a global village, so I believe any major event happening in the world will affect other areas. So what happens in the United States will affect what China thinks," he said.

According to Liu, each year that he visits the U.S., he sees different trends. He said it was augmented and virtual reality in recent years but now, it is autonomous cars and artificial intelligence.

Liu went to San Francisco to meet with some startups and to scout for investments in technology. Currently, tech companies are the third target favored by Chinese investors, according to Dealogic.

After his San Francisco meeting, Liu will go to New York, the report said. When asked by media if he would meet with President-elect Donald Trump, just like what SoftBank CEO Masoyoshi Son did, he replied: "Not this time."

Meanwhile, on Wednesday, Dec. 7, Taiwan-based electronics maker and Apple supplier, Foxconn Technology Group, confirmed plans about a U.S. expansion, a day after Japan's SoftBank Group Corp. pledged to invest $50 billion in the U.S.

"We can confirm that we are in preliminary discussions regarding a potential investment that would represent an expansion of our current U.S. operations," the company said.

The company, which is known to invest in high-tech sectors such as e-commerce, robotics, consumer tech startups and healthcare, did not specify which sector it will invest.

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