US President Barack Obama took time off at an Asia-Pacific summit on Wednesday for an unusual task putting questions to Chinese internet billionaire Jack Ma and a young Filipina entrepreneur on Government-business ties in a panel discussion.
Obama joked comfortably with the eccentric founder and executive chairman of Alibaba Group Holding ltd, which is looking to make inroads into foreign markets, including the United States.
During the discussion on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit in Manila, the US President probed Ma on how he thought Government and established businesses could help young entrepreneurs.
“Government is simple — just reduce the tax, or no tax, for these guys,” Ma responded, to a wave of laughter and applause from the audience of business executives.
“You got a lot of cheers from your fellow CEOs,” Obama quipped in response.