20-year trade war?

Alibaba founder Jack Ma said Tuesday that the trade dispute between the U.S. and China could last 20 years. But he expressed hope that a solution could be reached as a trade war would “hurt everybody.”

The Chinese e-commerce billionaire also questioned the focus among some on trade deficits, calling it a relic of the 20th century. U.S. President Donald Trump has long decried the U.S.’s whopping deficit with China.

Amazon ups wages

Amazon is boosting its minimum wage for all U.S. workers to $15 per hour starting next month and said it will push for an increase in the federally mandated minimum wage, which now stands at $7.25 per hour.

The company, whose value topped $1 trillion briefly in September, was facing political and economic pressure to raise pay for thousands of employees.

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