Jamie Dimon on Why He Thinks We Are Living in One of the Most Dangerous Times
Nov 30, 2023
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Jamie Dimon, CEO of JPMorgan Chase, discusses conflicts in Gaza and Ukraine, rising interest rates, and the need to strengthen military and economic relationships with China. They also talk about the potential repercussions for American businesses in China if a war breaks out in Taiwan and the importance of supporting Ukraine. The conversation also covers the complexities of speech and hiring on college campuses, the recent announcement of selling stock in JPMorgan, and the significance of having a strong succession plan.
The importance of strong military defense, thoughtful energy policies, and American leadership in maintaining the stability of the Western world.
The need to protect national security interests while maintaining economic and diplomatic relationships, specifically in relations with China.
Deep dives
The Most Dangerous Time in Decades
Jamie Diamond discusses the geopolitical risks and challenges the world is facing, including conflicts in Ukraine and Israel, nuclear proliferation, climate change, and the potential for another pandemic. He emphasizes the importance of strong military defense, thoughtful energy policies, and American leadership in maintaining the stability of the Western world.
Navigating Business in Geopolitically Complex Areas
Diamond acknowledges the complexity of doing business in China and highlights the importance of engaging with China strategically. He emphasizes the need to protect national security interests while maintaining economic and diplomatic relationships. Additionally, he discusses the role of JPMorgan Chase in financing oil and gas companies and implementing sustainability measures, stating that they support clean energy initiatives while continuing to finance responsible oil and gas companies.
Foreign Policy, Trade, and Economic Relationships
Diamond emphasizes the importance of diplomacy, development finance, and trade policies in maintaining strong international alliances. He suggests that the United States should take a more active role in promoting economic relationships with other countries, focusing on fair trade and economic development, while addressing issues like human rights and climate change.
Economic Concerns and Policy Priorities
Diamond discusses concerns about the current economy, including inflation, the potential for a sugar-high from government stimulus, and the need for rational risk management. He calls for a focus on improving income equality and reducing poverty through policies such as better education, workforce development, and infrastructure investment. Diamond also suggests that finding bipartisan solutions and engaging in respectful political discourse are crucial for addressing critical national issues.
Jamie Dimon’s leadership of JPMorgan Chase has often brought a sense of stability to roiling financial markets. But when he looks at the conflicts in Gaza, Ukraine and elsewhere, combined with inflation and rising interest rates at home, he sees ominous warning signs.
This interview was with Andrew Ross Sorkin of The New York Times at the annual DealBook Summit and recorded live in front of an audience at Jazz at Lincoln Center. Read more about highlights from the day at https://www.nytimes.com/live/2023/11/29/business/dealbook-summit-news
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
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