JP Morgan boss on the rising economic threat from China

The head of the world's biggest bank has told Sky News the West should "fully engage" with China rather than seeking confrontation.

Jamie Dimon, chief executive of JP Morgan Chase, said the US was taking the right approach by holding talks with Beijing.

He also added the US and West must stand together against the economic might of China.

It follows President Biden's announcement that the US was quadrupling tariffs on Chinese electric vehicles.

#china #unitedstates #jpmorganchase

[lyttlebee]

China never said the US or UK is an economic threat when China was still weak, but rather quietly learnt from both capitalist countries on running an effective economy. Now China is rising big and fast, why can't US or UK learn from China on running an efficient economy??

[wataric]

When US can't compete it shouts national security concern! Unfair competition! overcapacity! sanctions! 😂

[shunhongdai]

We are selling Tesla all over the world. Does she mean we should stop doing that since we are over capacity for domestic market? How about our farmers? Do they need international market since they are over capacity for domestic market as well?

[des_smith]

It's not a threat, it's competition

[ppen]

So basically, UK was part of EU market and now he wants UK to be part of US market.

[jianusheng]

A banker talks about "freedom" and "democracy" when it comes to the issue of China, funny.

[guanzehuang]

Jamie made my day! He said US want to protect the free peaceful democracy from China. But my question is do we against it? No, US, EU and Britain can live as they like. We don't care. Our focus is on ourselves and better us. Jamis is really clever, and actually he wants to say, US must continue to lead the world, but in the rivalry to China US alone cannot win. He must say China is threat to west democracy, otherwise, how can he get the support from the other west countries? He is totally ideological!
What a joke is he said US should help the other countries. But how? since 2008 crisis has anyone seen it? In the tech war of the last 5 years US actually sanctioned the alliance's companies and stop them to sell their products to China. The companies lost their market share and profit, which is taken now by the local competitor. is it a help to such countries? at least I doubt it! if it is financially, means pls keep faithful to Dollar. But due to the treasury debt and fiscal deficit, even he self admit the growth in US is driven by debt and deficit. how can it be sustainable? So actually what he wanted is the alliance must sacrifice their interests for US interest. otherwise, US economic will get huge problem!

[georgelim]

Americans like to think it should change China and that their democratic system is the best system. China never tries to change other countries political system. The Chinese people are happy with the way their government has improved their livelihood and lifted 800 million Chinese out of poverty. Democracy doesn’t work for every country. If one looks at India which is the world’s largest democracy and has the same population as China, their GDP in 1950 was equal to China, today it is only one-fifth of China’s GDP. Its infrastructure is s primitive compared to that of China. The west should stop telling other countries what to do and concentrate on solving their enormous domestic problems.

[chkee]

Mr. Jamie Dimon appears to be more rational and level-headed in his approach compared to certain politicians.

[PeterNjuguna-yp]

Jp Morgan is the world fourth largest bank in the world.
1. ICBC -china
2.CBC- china
3.ABC- china
4.jp Morgan - usa
5.BOC- china

[greentraveler]

competition or threat? Europe also subsidize Boeing, BMW, Mercedes, etc. by injecting direct cash flow or so-called stimulus, tax break, cheap loans, or cheaper land.

[rationalthinker]

What balloney..Damon..China works with all political system and has not an iota of interest in changing US and Europes political system..it is US brandishing my way is more superior and actively initiate regime changes etc all over the globe. How many wars and conflicts 40? Have US innitiated and participated over the last 45 years...whereas China had no participation to change anyones political system nor engage in arm conflict for nearly the last 50 years..

[willeisinga]

China opportunities. Solar Battery EV Cars. US EU has not. We need it. China has it.❤❤❤

[aihong]

As of the latest available data, the Industrial and Commercial Bank of China (ICBC) has the largest market capitalization among international banks. ICBC, a state-owned bank in China, often tops the list due to its vast assets and significant influence in the global banking sector. JO Morgan is not even the second biggest. Get a researcher.

[FrankD]

look at the choice of Elon mask, establish the largest Tesla factury in China, Chinese government give the same treatment as equal to Tesla as to all the Chinese brand companies..

[Howiex-isgq]

China is making bigger profit. Spending way less.
To invest in china is wiser
No such thing as democratic

[bobcat]

No the biggest bank in the world by assets is Chinese so is the 2nd, 3rd, 4th. Chase is the 5th.

[ndacadet]

How quickly free market, globalization, capitalism, all the ethos turned upside down once it starts hurt self intrest.

[hawkychg]

Economic threat from China, are these people genuinely out of their mind? May I ask who is the one who started the tariff and semi conductor chip restrictions? From Huawei to Tik tok accusations of spy.

[Seanpfree]

First-time home ownership is OVER in the US. "Starter homes" are over 400k, while average income is 60k. All homes under $1 million are beging bought by institutional investors paying cash.

We've put in 77 bids in on 1st home, outbid by cash investors every time. We're priced out due to price and mortgage rates.

Wonder why Millenials and Gen Z are doom spending? Not getting married? Not starting families? Why is civil unrest growing while the wealth gap is larger than it ever has been in history?

It's because this economy is not for us, it never has been. It priced us out and left us behind before we got here. companies today do $13 billion dollar buybacks instead of paying workers more, pensions for retirement don't exist, wages are sideways the past 50 years except for executives. This doesn't end well for society at every socioeconomic level..