JP Morgan boss on the rising economic threat from China
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- Опубликовано: 14 май 2024
- 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.
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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??
They did. They use sanctions and fear mongering perspective on their news outlets when reporting on China. Remember, most Westerners people are naive to what they see or read on their news channels.
Anyone who is not part of white power structure who is rising is a threat to their Dominion.
Because they are not running a smooth efficient economy. They are artificially propping it up through stolen technology and an inflated currency.
Just compare your work culture to China's...
No. Feminism has taken over. Now it's all about free stuff.
When US can't compete it shouts national security concern! Unfair competition! overcapacity! sanctions! 😂
Chinese uses all means to an end . The state runs the economy and that's not free market competition.
We should not accept to deal with them without huge taxes .
Dumping , slavery, monopolize the markets ( Iron, cobalt , lithium etc ) , industrial spying, surveillance, etc etc .
Not reliable and aggressive partner
Wumao sighted.
@@joetran8798waiting to hear your side of the story
how is Langley @@joetran8798
@@middlepath8850 He doesn't have any counter arguments. That's why he could only resort to name calling.
A banker talks about "freedom" and "democracy" when it comes to the issue of China, funny.
He just reported that the dollar is officially being cornered due to China EVs 100% sanctions.. I guess one sided overcapacity propaganda has backfired
yeah, they shouldn't have such a strong economy. they need 'freedom'.
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It's not a threat, it's competition
it is a threat for supremacy
errr a threat to Us hegemony. don’t your notice how many wars the yanks are involved in?
@@tustak lol😂
If not a threat, why sanction and provoke?
There is no competition. China commands the whole manufacturing supply chain. Impossible to compete. Tariff is the only option. 😢
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?
Over The world: Europe and usa 😂😂😂😂
Made in China Tesla’s 👍
@@tobyli52Teslas made in China are for the Chinese market, not for the US market.
Chinaman don't be fooled by "Capitalist Propaganda". Despite Donald Trump and Joe Biden putting tariffs on certain goods, America and China did a "RECORD BREAKNG" $758 billion dollars in trade in one year. This is just political posturing so don't take it seriously.
Half the world Tesla production is made in the gigafactory in Shanghai, China.
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.
Mr. Jamie Dimon appears to be more rational and level-headed in his approach compared to certain politicians.
Its called hypocrisy
He's a businessman, not a crazy hot headed politician.
Indeed, JP Morgan is fortunate to have such a capable individual serving as their CEO.
JP Morgan has business in China for a very long time and he needs to be smart with what he say, unlike politicians, who does things that are popular, but not the right thing.
Yeah, and he seems way more reasonable than most politicians.
So basically, UK was part of EU market and now he wants UK to be part of US market.
Britain can't do, say, or even think about anything without permission from the US. It's pathetic. Britain fell from their greatness of the colonial times...so fuckin what? They don't need to try and relive it vicariously through the United States.
It has access to both. The biggest bank in Europe is HSBC which get 60%+ profits from China
@@NGE0001，
@@NGE0001you mean Hong Kong SAR, not mainland China 😂
it has both SAR and Mainland @@yixianli2700
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!
The way to get out of the 100% GDP to debt ratio created by irresponsible spending is to get allies to help and share the burden in a plan towards a massive devaluation of dollar IMO
US is doomed, live with it. We don't need war mongering for eternity.
Chinese Oligarchs
Russia. Oligarchs
American Oligarchs
People choice: slavery...
Since when in history has the common man not licked the crumbs that have fallen from their masters' tables?
@@kuanged the narrative of democracy and capitalism is the common man can also be at the table....and majority of people under democracy believes it with as much fervor as a religious zealot. So religion is not dead it's just change its name so that what ur saying above amounts to sacrilege even though it's reality
@@kuangedAbsolutely
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..
Excellent analysis Rational thinker. The US has form when it comes to war. In 2023, Richard Haass, President of the US Council on Foreign Relations said that The United States has become ‘the most profound source of instability worldwide’. After running the organization for two decades, Haass said he ‘has come to a disturbing conclusion that the most serious danger to the world's security right now is the United States itself’, he told The New York Times in an interview.(July 1 2023) Brown University 'Cost of War Project' makes compelling reading on the topic.
Well said. It has always been my way or the highway *for the US. The fact that Hungary can vote the other way in the UN when it's close to China says everything.
China has taken over as the largest FDI in ASEAN.. Used to be Japan and before that was the US. So G7 literally was outted to lead the growth in Emerging markets Tigers. That's bad as the EU emerging member at similar size is prob only Poland
China opportunities. Solar Battery EV Cars. US EU has not. We need it. China has it.❤❤❤
And they break after 7 days
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
No the biggest bank in the world by assets is Chinese so is the 2nd, 3rd, 4th. Chase is the 5th.
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.
Does this mean that Japan admits that it cannot beat China in competition?🙄
Yes, it does.
Basically the UK is officially sold
China is making bigger profit. Spending way less.
To invest in china is wiser
No such thing as democratic
India will take that
100% Just look at India stock market performance vs Chinas for the last 5,10,20 years. Only politicians profit in China @@ordinaryclass8508
Nope. I can give hundreds of reasons why China is no longer a good investment.
Democracy only plays a small part in it.
@@ordinaryclass8508India has a 100 billion dollar a year trade deficit with China
@@Dr.Kay_RChina does not need foreign investment
That FDI will only cause more bubbles
So sucks the soul out of American mortgagees and then walks into UK as a branding exercise to "to help youths get a nice shiny mortgage prison". Absolutely toxic.
Your smart 😂 they want thar English market
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.
JP Morgan owns many other banks that make it bigger.
JP Morgan is the largest in terms of market cap.
In terms of total assets ICBC had the biggest .
JP Morgan total asset it has manage is $3.9 trillion while ICBC had $6.6 trillion.
US is the envy of G7,hahaha, its sucking the G7 dry
He actually makes more sense than the U.S. politicians.
that is because he is their boss
He is bought and paid for
Why would anyone listen to some banker in regards to diplomacy, this guy should get the sack what a clown
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..
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.
Did I hear Jamie Dimon say we should do something about the wealth gap?
Also that JP Morgan started in London 200 years ago?
Doesn't that mean they've had 200 years already to help avoid the ridiculous wealth gap in the first place?
There's your proof, that good things take time. Bad things happen in a blink, because someone lets them.
Don't call competition threat in video's title
It's all about co operations and politicians to get rich.they don't care about consumers...And all media controlled by governments
If I don’t win then there is no competition, if I don’t win I’m going to tell mama, competition is when I win only
The U S could have kept up with EV's but they stood stound talking & not building anything. Now China leads the way because they kept working on this technology.
Cooperation
Not competition
End the madness
Boycott people
The UK is finished.
So is China.
@@TacticalMayo A tiny, insignificant, declining Western country like the UK cannot be compared to a 5,000 year old civilizational state of 1.4 billion hardworking Chinese people
Sellers of Illusions!!
Did he really just call him “richy”
I thought I was the only one who heard that.
@@osam6356 i was about to make a post about it until i found this thread😆
It's Damian from the Original Omen movie 😂 ... He only cares about Control & Profits and Charity is Carrot 🥕 on the stick 😮
usa wanted free trade back at 80 s, but now when they loosing dominance we should go back to defending own economy 😂😂
Jamie Dimon is the best CEO on Wall Street, he would be a great Fed Chairman or U.S President. I actually can't believe Sky News got him on.
lol😂 trustworthy guy
Imagine anyone trusting this guy lol
I thought Icbc bank is the biggest
Jamie Dimon was a remarkable booking for Sky Breakfast considering the predictable gibberish spewed by policing minister Philps, and Wilf didn't waste the opportunity. His ability to navigate comparative politics and economic policies with intuitive fluency and accuracy was such a refreshing change. As a viewer, I have appreciated his obvious preparation over the past two weeks, which has demonstrated an authentic respect for everyday people by finding novel relevance in the day’s broader global context. To simply call him a great “substitute” feels rather unfair because he can more than hold his own, and I’ve very much enjoyed his ability to lead a thinking wo/man's morning chat show -- pitch perfect. I need facts, not "gotcha" grandstanding. I need logical lines of questioning, not scripts. I need colleagues who are decent and kind to one another, not weird mean girl crap. Naturally intellectually curious and a gentleman, I welcome Wilf's intelligent company, that of the diligent and delightful Mhari Aurora, as well as the unique mix of very informed panelists during my hectic mornings. Dimon's comments aside, I think Wilf handled this rather lengthy interview marvellously.
Economic conflict is big business for banks just like Hitler was big business for JP Morgan. These bankers don't care what's good for the people. They just don't want to lose their lucrative position serving the US empire's hegemony but the fall is inevitable and lets hope we get a better deck of cards next.
China?
@@emmanuelayiik9770 why not, who have they invaded, assassinated, regime changed recently? how many millions of civilians have they killed in the last few decades?
@@emmanuelayiik9770not a chance we will never allow it.
How quickly free market, globalization, capitalism , all the ethos turned upside down once it starts hurt self intrest.
The boss is too naive with China.
A free and democratic world means little to the 20% of the US without food, a home, education, and a future. It is wishful thinking to think that a policy will be devised to lift that population stuck in a sunken and buried world.
It's wishful thinking to believe that the United States will simply accept China being number one. China will get the most irrational reaction from us that the world could ever imagine.
Thucydide's trap ☢️
GUFFAW... GUFFAW... GUFFAW!!! While I'm a huge fan of Jamie Dimon (snicker snicker, shaking of head) still, I can't help but be very amused when he purports all of those grandiose reasons as being why the U. S. is doing so well which makes us to be the envy of our G-7 partners when the simple fact of the matter is that the U. S., just like China, has now fully embraced the reality of what I call the Equity Spending (ES) process that is better known as deficit spending and/or quantitative easing (QE). To put it another way, when a sovereign nation accepts the fact that it can electronically generate we the peoples' $s to - "Infinitum" - to quote Fed Chairman Powell, and without one cent of federal tax revenue being involved, it then becomes pretty much impossible for that sovereign nation to not be doing very well, and Mr. Dimon is every bit as aware of this reality as I am.
As for China being an 'economic threat'..., well yeah..., I mean..., duuuh..., China has taken the "Equity Spending financial/economic bit between it's teeth", so to speak, for a very long time now which has resulted in China spending hundreds of TRILLIONS of renminbi (yuan) around the globe while forgiving a lot of these electronically generated loans which has garnered China a whole lot of influence around the world. At the same time, the U. S. is still desperately hiding the Equity Spending reality/process in plain sight while being stingy with this infinite wealth in order to maintain the hegemony derived from this wanton deceit. This is to say that every sovereign nation has the same God given right to also electronically generate their monies, just like the U. S. and China and a few other 'subsidiaries', so to speak, like Japan.
My full name is - Oscar Dean Windham.
While Mr. Dimon generally spoke well, his responses were ofter too 'politically correct', For example, as expressed, he inferred that the U.S., and our relations with Europe would be fine regardless of whether Biden or trump return to the Whitehouse in 2024. That was WAY off the mark. He also hedged on Brexit, although not as badly as failing to acknowledge that trump is a real problem.
Politics determines how wealth is distributed within a country, while wars and diplomacy determine how wealth is distributed between countries.
These are not good outcomes for US citizens of US Government policies: Economic inequality, inflation, stagnant real wages for the last fifty years, costly healthcare, an expensive education system, student loan debt totaling $1.7 trillion with an average balance of $38,000, poor public transportation systems, racial inequality, mass incarceration, the militarization of police, deteriorating infrastructure, housing affordability, homelessness, the opioid epidemic, and gun violence.
Instead of prioritizing the welfare of its people, the US meddles in other countries to spread its version of democracy. The question is whether the USA can continue to survive with its version of democracy, not whether it can have any leadership role in the global order.
Anywhere in the world, if there is a border dispute, it is usually the result of a line drawn by an Englishman; if it is an internal dispute, it is usually the US fueling it. Difference in implementation of divide and conquer strategy.
That last paragraph is gospel … In China they called the British “time b*mb” because every international conflict on this planet originates from some UK policy set in place 100 years ago
West and USA demanding a guarantee of winning in competition. 😂😂😂😂
Cooperation is not a threat. The only threat is in the United States perception, for the U. S. wants to remain the unquestioned hegemon. But cooperation obviously beats hegemony.
Pure P.R. . These guys have no interest in society..
No interest whatsoever. At least he admitted that making donations helps the company look better.
The huge eu market is not accessible to the uk post brexit. People were fooled by politicians.
Wish for future politicians to behave and reason like this man
This guy is completely clueless.
He doesn't seem like the doom and gloom guy that writers always paint him to be. He actually seems quite optimistic.
Is it just me or does this guy sound like a New York Mobster ?
This is a kind of gentleman we need as leader for the 21st century and beyond 🙏🏼
China isn't competing with the west. Just US.
US is slugging after the facts
This gentleman appears to be more balance in his analysis of the trade between China and the western world. I appreciate very much his saying that it's should not be war with China and the west but rather competition. He believes in western democracy ( which i respect) and yet admits that about 20% of the population in the US do not benefit from the prosperity generated by the country. Although no form of government can eliminate poverty completely I am of the opinion that besides Western type of democracy there is also other system which can help attain the same level of prosperity that can be seen in the west with more effectiveness and rapidity. This system though not perfect is being implemented in China with astounding results: e.g more than 800 millions people lifted out of poverty. Is this not remarkable?
To the extent that they have alleviated poverty yes, it is remarkable and a good thing.
It will not be competition, it will be what everyone does not want the most.
So says the same Jamie Damon who says, "Not everything that happen in the bank, I am aware".
Then this same Jamie Damon seems to know and understand what is going on in other country! 🙊🙊🙊
🙉🙉👽🛸👽🛸👽
Jamie for prime minister... oh hes American... for president!!! Hes a super smart guy, he needs to run ... he is a great leader.. #1Fan
If NATO saction china,,china may think for doing to help Russia too
This guy is senile too.
funny Europe countries and USA forced China and Japan to trade OR ELSE! i forgot what century....
"dont hate the player hate game!"
The sad part is that the distrust of the elite makes me not believe Jamie’s propaganda of how he is interested in the welfare of humanity. He is just out for himself.
I always believed a HS Home Economics course should include basic budgeting and all the stuff Jamie spoke of.
"20% of America's population is left behind.." he probably loves America with that love that is blind.
if u dont have a big money it makes it hard for money to make money
Threat to his pocket
Very level-headed compared to the politicians
It's Rishi not Richie
Tom Hanks could play this guy in a movie🤔It would be his first role as a supervillain.
If they do it, it's ok. Shameless!
delete. wrong place. apologies.
jp Morgan is a very bad employer... maximise use of short term contracts
Britain did not stand alone - Canada, Australia and the rest of the commonwealth declared war within days of Britain declaring war.
Where were they for the Battle of Britain lol
@@marshall3278 do your history. There were a lot of Canadian pilots who flew in the Battle of Britain as well as poles aussies and kiwis. Even a couple of Americans.
Canada mobilized its army to britain during the Battle of Britain in the event that Germany actually did invade. Of course they were twiddling their thumbs afterwards.
Australia left the chat
@@iggy5347 Australia was there but they were busy preparing for a potential Japanese invasion. Canadians served in the rcaf and the raf In addition to pilots they contributed more than 2000 ground crew and bombers crews during the Battle of Britain. Canada mobilized to britain Jan 1 1940 and sent two regiments over with the British expeditionary force. Britain did not stand alone but shouldered the bulk of the effort since Canada had a small regular army before the war. By the end of war Canada's military was 1.1 million people out of a population of 11 million. Australia and New Zealand had similar percentages but our American cousins believe they fought world war 2 alone. It’s our fault because in Canada our liberal governments want to bury the fact that Canada made a substantial contribution to both world wars and were fighting long before the USA joined the war effort. But in fairness, Canadians and Britain were very thankful to the support provided by the USA before they entered the world war 2. The first world war was a different matter, but the USA definitely did more than their fare share in world war 2.
Very interesting interview; bankers steal people money, it is shown in how many have the top 5 per cent. And from this interview this man looks like very an empathetic man who gives money and helps. Look out for this Type of predator that looks like an sheep
8:30. I agree with Jamie Dimon about most of his fundamental points regarding context of IRA.
Last month they said it was fine
Yeah
Detroit must be doing real fine......
Probably still looks the same as it was in the 80's
Raise FDIC ins for saving acct That it”s still at $250k is nuts.
"Freedom and democracy" really?
Those banks stole most all of that money. Now they want to give some away like they’re nice people that’s amazing.
The word is Britisher, not Britainer.
China is not old China but USA is same😂
Yeah but remember how the USA is ☢️
No excess money not reflecting goods are not good for humanity. It only produces poor people living in streets having no food
liar
Oh but it will be.
J. Pierpont Morgan missed dying on the Titanic | He was reportedly booked on the maiden voyage but instead remained at the French resort of Aix to enjoy his morning massages and sulfur baths.
Nobody has done more Damage to the US than Jamie Diamon and JP Morgan.
A looser says :thread
A winner says: compete
What a title, War, war, war... OMG, take care of your people....
should have never reached for our 🇺🇲 number one spot.
Great man I will consider opening an account with jp
Morgan Boss for president
Europes countries and UK are to small to compete with US, China or in future even India...
We need to Unite...
Spoken like a true American plutocrat, and he is one of the less ruthless ones.
Jamie is not deep like RFK Jr. but deeper than Trump and Biden.
"Ritchie" lol
lol can’t even mention Israel’s war in Gaza
"UK is a Great country" 🤔 , ".... And there s another country i ve heard of long time ago , most dear to those that know it , most great to them they know ...." 👏👏👏👏🇬🇧 "I vow to thee , my country" Eng patriotic song 🙂👏👏👏🇬🇧
Was great
@@jerrellholder8382 sorry , i Don t know . Was Last time Inn UK in february 1998
@@jerrellholder8382 i Guess there Is more poverty , more trafic jaim , less Aire for breathing , less oportunity , as Germans say Here in Russia : all positions Are occuppied , to me , in 2001 , Germans in Russia 😂😂😂 how Dare Germans who killed milions 😂😂😂
Wish we had him, or somebody like him, running for president. Instead we got . . .
JP Morgan Chase
-Total revenue 2023 : $158.1 billion
-Total net profit 2023 : $49.55 billion
-Total asset under management : $3.9 trillion
-Market Cap : $600 billion
ICBC(Industrial and Commercial Bank of China)
-Total revenue 2023 : $113.4 billion
-Total net profit 2023 : $51.3 billion
-Total asset under management : $6.6 trillion
-Market Cap : $257 billion
ICBC is definitely undervalued while JP Morgan is overvalued.
".... No matter where we are , no matter how deep offences may be , we don t need no shield , cause love is thee armoure we d better have ..." Kelly Rowlland 🙂👏👏👏🇬🇧🇬🇧🇬🇧
Nice One