Chinese tech billionaire Jack Ma's promise to create 1 million new US jobs is the latest casualty of the trade war. 
 
 The Alibaba (BABA) chief grabbed attention at the start of last year when he made the highly ambitious pledge following a meeting with Donald Trump, who was president elect at the time. 
 
 But in an interview published late Wednesday by China's official news agency, Xinhua, Ma said the waves of new tariffs imposed by Washington and Beijing in recent months have undermined the plan. 
 
 "This promise was on the basis of friendly China-US cooperation and reasonable bilateral trade relations, but the current situation has already destroyed that basis," Ma said. "This promise can't be completed." 
 
 A spokeswoman for Alibaba, China's biggest e-commerce company, confirmed Ma's comments to CNN. 
 
 Analysts had already expressed serious doubts about the pledge, which Alibaba announced after Trump and Ma met at Trump Tower in New York in January 2017. 
 
 "Jack and I are going to do some great things," Trump said at the time. 
 
 Ma's vague promise wasn't based on Alibaba investing in the United States to build factories or fulfillment centers. Instead, he talked about stimulating trade by helping American small businesses sell their products to consumers in China and elsewhere in Asia. 
 
 Alibaba held a big conference in Detroit last year to encourage American small businesses and farmers to sell their products to Chinese consumers through its platforms. The company didn't immediately respond to a request Thursday for information on how many US jobs those efforts have created so far. 
 
 In the Xinhua interview, Ma said Alibaba "will not stop promoting the healthy development of China-US trade." 
 
 A strong advocate of globalization, he has expressed growing fears about the trade war, telling investors earlier this week that it could drag on for as long as 20 years. 
 
 "It's going to last long, it's going to be a mess," Ma said Tuesday in Hangzhou, the city where Alibaba is based. 
 
 The 54-year-old tycoon, who set up Alibaba in his apartment nearly two decades ago, announced this month that he will step down as executive chairman of the company next year. Daniel Zhang, the current CEO, will succeed him. 
 
 Ma, a former English teacher, said he wants to return to education. 
 
 -- Yong Xiong and Sherisse Pham contributed to this report. ||||| Chinese billionaire Jack Ma, the CEO and founder of ecommerce giant Alibaba Holdings (BABA), spoke at the World Economic Forum in Davos, Switzerland, on the U.S. economy in relation to China. 
 
 Last week, Ma met with President-elect Donald Trump in New York to discuss Alibaba’s commitment to help American small businesses by bringing more U.S. companies onto its sites. As one of the world’s most powerful businessmen, the Alibaba CEO expressed his belief in the importance of empowering small businesses to drive global economic prosperity. (See also: Alibaba’s Jack Ma Meeting Donald Trump Serves Both Parties.) 
 
 Throughout the campaign, Trump repeatedly badmouthed China, criticizing U.S. firms for “sending jobs abroad,” and assuring his constituents that they will see a lot more “Made in America” tags. More recently, Trump’s jargon has circled around various threats including a new tariff on Chinese imports. 
 
 Ma’s Diagnosis 
 
 When asked by CNBCs’s Andrew Sorkin about Trump’s proposed policies that would negatively impact China, Ma said the U.S. is misunderstanding the cause of its job problem. He suggests lower wages and disappearing jobs are not because other countries steal jobs from the U.S. but rather because of the distorted distribution of money, in which the government allocated $14 trillion to war over the past three decades. Ma indicates the funds could have been used to fix America’s failing infrastructure. 
 
 The Alibaba CEO instead deemed outsourcing as a byproduct of globalization a “wonderful” 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?" 
 
 Corporate Hoarders 
 
 Ma is speaking to the billions of dollars in corporate cash that U.S. multinational companies, primarily big tech companies, are hoarding overseas. Ma uses U.S. corporate cash piles abroad as an example of how globalization, which he sees as fundamentally beneficial, is disproportionately servicing the wealthy few. (See also: Big Tech Is Sitting on $1.77 Trillion.) 
 
 While Trump’s proposed policy includes a huge one-time corporate tax cut on repatriated cash, many disagree on whether the proper incentives and regulations are in place to make sure the profits get distributed more broadly.
– Take your pick as to which of these statements from Alibaba founder Jack Ma is gloomier: He's going back on his pledge to create 1 million US jobs, and the US-China trade war that he blames for that plan's undoing is one that he believes could last two decades. "It's going to last long, it's going to be a mess," the Chinese tech billionaire said Tuesday. He addressed the jobs plan, made after he met with then president-elect Donald Trump in January 2017, on Wednesday: "This promise was on the basis of friendly China-US cooperation and reasonable bilateral trade relations, but the current situation has already destroyed that basis. This promise can't be completed." CNN provides background, explaining Ma's "vague promise" didn't involve building Alibaba facilities in the US, but rather by helping fire up small US businesses by enabling them to better tap into the Chinese market. The Wall Street Journal also uses the word "vague" to describe how critics viewed Ma's pledge, observing that, nearly two years later, Alibaba hasn't released any figures related to the number of jobs created thus far. Count the Washington Post among those critics. It points out that based on Commerce Department figures, 1 million new American jobs would require that US exports to China rise by an additional $206 billion a year. That's a more than 100% jump over 2017's $188 billion in exports, a figure that encompasses things that wouldn't benefit from Alibaba's platform, like airplanes.