Alibaba founder and executive chairman Jack Ma candidly gave his view of the U.S. during an interview with CNBC at the World Economic Forum in Davos, Switzerland.
When asked about the U.S. economy in relation to China, Ma told CNBC that the U.S. is ill-advised in pointing the blame for its economic problems to China. Instead, he said, it should blame no one but itself.
"It's not that other countries steal jobs from you guys," Ma was quoted as saying. "It's your strategy. Distribute the money and things in a proper way."
The Chinese billionaire also faulted the U.S. for wasting more than $14 trillion in waging wars in the past 30 years, instead of investing it in infrastructure and other investments in the country.
Ma added that the U.S.'s economic growth slowed down, not because China allegedly stole the jobs, but because it spent huge money on costly policies on war against terrorism and other foreign enemies.
On the contrary, Ma praised outsourcing as a "wonderful" and "perfect" strategy.
"The American multinational companies made millions and millions of dollars from globalization," Ma said. "The past 30 years, IBM, Cisco, Microsoft, they've made tens of millions--the profits they've made are much more than the four Chinese banks put together. . . . But where did the money go?"
According to Ma, the U.S. should distribute or invest its money properly, which is the reason many Americans felt left out. With so much money in Wall Street and Silicon Valley, the country should help the Midwest and those who were not educated or "not good in schooling," he added.
"You're supposed to spend money on your own people," Ma said. "Not everybody can pass Harvard, like me." He said in previous interviews that he had been rejected by Harvard 10 times.
The Chinese tycoon also pointed out that globalization "should be inclusive," which should benefit the majority of the people, not just the wealthy few.
"The world needs new leadership, but the new leadership is about working together," Ma said. "As a business person, I want the world to share the prosperity together."