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JPMorgan Chase CEO Jamie Dimon issued a stark warning to American officials on Friday (May 30), urging them not to underestimate China’s resilience in the ongoing trade conflict. Speaking at the Reagan National Economic Forum in California, Dimon cautioned against the belief that China will fold under the pressure of escalating tariffs.“I would engage with China. I just got back from China last week. They’re not scared, folks,” Dimon told an audience of lawmakers, business leaders, and economists. “This notion they’re going to come bow to America, I wouldn’t count on that. When they have a problem, they put 100,000 engineers on it. They’ve been preparing for this for years,” he added.Dimon’s comments come at a time when the Trump administration is pushing tough trade policies, believing that China won’t be able to handle the pressure from tariffs and will eventually give in. In May early, the two countries briefly eased tensions by lowering some tariffs, but that progress now seems to be falling apart.
JPMorgan Chase’s CEO warning on national preparedness
Dimon’s comments on trade came as part of a broader concern about the United States’ readiness for future global challenges — particularly in terms of military strength.“The military guys tell you that if there’s a war in the South China Sea, we have missiles for seven days. Come on, we can’t say that with a straight face and think that’s okay,” he said.He emphasized the need for urgent action. “We know what to do, we just now gotta go about doing it.”The message from the head of America’s largest bank was clear: the U.S. should rethink its assumptions not just about global economics, but also about its broader preparedness for geopolitical conflict.
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