In a recent interview with Sky News, Jamie Dimon, CEO of JPMorgan Chase, expressed his support for the U.S. government’s active engagement with China.
He described Beijing as a “fierce competitor,” but clarified that it is “not an enemy” of the Western world.
This discussion followed shortly after President Joe Biden announced significant tariff increases on various Chinese imports such as electric vehicle batteries, computer chips, and medical products.
In response to the new tariffs, China expressed its opposition and promised to retaliate to protect its interests, as stated by its commerce ministry.
Dimon, leading the largest bank in the U.S., noted that the Western world possesses a strong position in handling competition from China.
However, he also highlighted that the ongoing tensions surrounding Taiwan’s future could further complicate international relations.
Dimon also touched on the potential negative impacts of a trade conflict, which could undermine President Biden’s recent efforts to smooth over U.S.-China relations through direct discussions with Chinese President Xi Jinping.
Furthermore, Dimon pointed out concerns regarding the strengthening alliance between Russia and China.
He commented on the difficulties this alliance could pose, saying, “As long as China is kind of on the side of Russia, we’re going to have a hard time.”
This statement comes just as Russian President Vladimir Putin is set to visit China.
In an interview with China’s Xinhua news agency, Putin supported China’s proposal for a peaceful resolution to the Ukraine crisis and acknowledged China’s deep understanding of the situation.
Additionally, Dimon mentioned his first meeting with UK Labour leader Keir Starmer and noted that both Starmer and British Prime Minister Rishi Sunak are “pro business.”
This acknowledgment comes at a time when business leaders are keenly observing political leaders’ stances on economic issues, particularly those affecting global markets and international relations.