TOKYO - Americans wondering where Jack Ma disappeared to might soon find Alibaba’s stock has gone missing, too.
Keen to whack China one more time on his way out the door, US President Donald Trump is threatening to blacklist Alibaba Group and Tencent.
For Alibaba, which trades on the New York Stock Exchange, that would mean being delisted from a bourse it’s called home since 2014. Doing so would be a dramatic escalation and broadening of a trade war already failing spectacularly.
Yet as with so many of Trump’s anti-China stunts, this one could do grave and lasting harm to America in global finance circles. It’s not clear if Trump would actually pull this trigger.
The Wall Street donors pivotal to financing Trump’s past-presidency Mar-A-Lago existence won’t love the capital-markets fallout from torpedoing two firms worth more than US$1.3 trillion, the equivalent to the annual gross domestic product of Spain.