His analysis suggests that cooperation between US adversaries, such as Russia, China, North Korea and Iran, could be leading the world towards a large-scale conflict, which he refers to as a form of World War III.
Jamie Dimon CEO of JP Morgan Chase, He usually pays close attention to the movements of the financial markets and the Federal Reserve, but today his main concern is geopolitics.
The economic perspectiveIt is insignificant compared to the geopolitical situation we face“he told the audience Thursday during the annual meeting of the Institute of International Finance in Washington, D.C. He lamented the wars in Ukraine and the Middle East, as well as growing cooperation between adversaries of the White House and mentioned Russia, China, South Korea North and Iran.
“They are clearly talking about dismantling the system” established by the US and its allies after World War II, to which Dimon attributes an era of unprecedented global economic growth. “The risk is extraordinary,” he said. “World War III has already begun. There are already ongoing battles that are being coordinated in several countries”.
Dimon’s words gain strength
He said his bank’s risk management teams have “run scenarios that would surprise them” regarding the possible economic implications of a global conflict that spirals out of control.
jamie dimon.webp
That’s one reason why the CEO of JPMorgan Chase & Co. said Thursday that nuclear proliferation is “the greatest risk facing humanity”, even above climate change.
The leader of the world’s largest bank is a registered Democrat, although he has had supporters in both parties — who respect his business-friendly policies and reputation for competence.
Dimon has been proposed as a possible candidate for Treasury secretary by both parties, amid speculation that the Wall Street veteran will soon be ready for his next challenge after leading JPMorgan Chase for nearly two decades.
Despite his Democratic ties, the likely next Republican chairman of the Senate Banking Committee, Mike Rounds of South Dakota, told reporters earlier this week that Dimon would be “a good choice” to lead the Treasury in an administration of Trump.
Source: Ambito
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