JPMorgan Chase CEO Jamie Dimon said Tuesday that “there is truth” to what he feels is China’s position that the U.S. government is “incompetent and lazy.”
Dimon made the comments while on a call with clients, according to Yahoo Finance. Though the full conversation focused on many areas, including the economy and climate change, he didn’t shy away from shining a light on what he feels are major geopolitical issues facing the globe.
“China has serious issues. Our neighbors are peaceful. Mexico, Canada. Their neighbors are India, Pakistan, Russia, Vietnam. They don’t have enough energy and food. We do,” Dimon said, according to the outlet. “They kind of look at America and say, ‘you have been incompetent and lazy.’ There is truth to that. We have screwed up infrastructure. We have screwed up inner city schools. But I think it is a mistake to say that America has the short end of the stick.”
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Dimon argued that despite the U.S. having the “best military in the world,” it has “overused it,” according to Yahoo Finance. “You see what China is doing in Africa and Asia. We need to do that, too. America needs to take a leadership position. People are making a mistake [with the] the America First [thinking], we’re spending too much time and money on foreign ventures that don’t make sense,” Dimon continued.
He continued to note that the U.S. needs to trade with Western allies or China will “cherry pick every nation,” providing them with 5G equipment and negotiating deals related to money lending, which Dimon stated is already happening in Latin America, Yahoo Finance continued. (RELATED: Don’t Worry About Pelosi’s Taiwan Visit. China Invaded Us Years Ago, Didn’t You Notice?)
Dimon further warned of an economic storm on the horizon for the U.S., a sentiment he has reiterated throughout 2022 as inflation continues to rise. In April, he seemed to take a shot at President Joe Biden in an annual shareholder letter, calling for “strong American leadership” amidst the numerous challenges facing the nation.