Edda Garzo

JPMorgan CEO Jamie Dimon explains why America has the upper hand over China: Energy independence, freedom, innovation, and $80,000 GDP per person versus China’s $15,000. “We’re in a very, very good position.” 🇺🇸 Asked how the United States should approach China amid reports of Chinese support for Russia’s war effort, Dimon responded: “We have all the energy we need. We have the Atlantic and Pacific. We have no war in North America or South America. And we have the power of freedom, which is extraordinary in terms of people, ideas, innovation, and entrepreneurship. We have $80,000 per person GDP. China has $15,000. China imports 11 million barrels of oil a day. They have very complicated neighbors. Their own actions are scaring their neighbors: the Philippines, Japan, Korea, Indonesia, Vietnam, and India. Not because of America, but because of their own actions. So we’re in a very, very good position. We have to restructure trade around national security. That’s kind of a no-brainer. Anything we need for F-35s, ingredients for pharmaceuticals, semiconductors, AI, lithium, and other things that might be used for military purposes, we should reshore or friend-shore. But I would engage with China. I would have very tough conversations about what we’re going to do and what we’re not going to do. And I would do it with our allies in mind, not an America, our-way-or-the-highway approach. I don’t want to tear down the economic relationships either. We should be very thoughtful. They need oil and gas. LNG is very important geostrategically. I would negotiate with them around all of that.”