1. JPMorgan CEO Jamie Dimon sees full US engagement with China as the right approach, despite obstacles
2. Dimon points to Beijing’s relationship with Moscow as a major hurdle for US-China relations
3. Dimon believes the US and its allies are equipped to compete with China, emphasizing competition over conflict and advocating for continued trade engagement with China
JPMorgan CEO Jamie Dimon believes that full US engagement with China is the right approach, despite challenges that may make it difficult. He expressed concerns about China’s relationship with Russia, noting that alignment between the two countries could pose obstacles for the US. Beijing and Moscow have increasingly positioned themselves as alternatives to the Western order and have conducted joint military exercises, including near Taiwan, a point of contention between the US and China.
Despite these challenges, Dimon believes that the US and its allies are well-equipped to compete with China but should not view them as enemies. He emphasized the importance of engaging with China as a serious competitor, rather than resorting to conflict. Dimon acknowledged the drawbacks of trade but urged a more balanced perspective, arguing that the US should focus on the benefits of trade and approach China strategically.
Dimon’s comments come in the wake of President Biden’s implementation of tariffs on Chinese imports, including a significant increase in the tax rate on electric vehicle products. Dimon’s perspective reflects a nuanced approach to US-China relations, emphasizing the importance of competition, engagement, and strategic thinking in navigating the complex dynamics between the two nations.