Jamie Dimon believes there is “some truth” to China’s claim that the US is “incompetent and lazy” – although he added that it is “wrong to say America is getting the short end of the stick”.
Demon, his net worth Endorsed by Forbes 1.5 billion dollars, He warned of “storm clouds” on the horizon for the US economy and predicted that the odds would be in favor of either a “harder recession” or “perhaps something worse.”
The billionaire bank executive, who heads Wall Street investment giant JPMorgan Chase, made the comments during a free-flowing client call last Tuesday. First, the rich content was revealed over the weekend Yahoo! finance
The CEO of JPMorgan mentioned geopolitical issues “China has serious problems.”
“Autocratic management can work in certain jobsbut it doesn’t work in the long run,” Dimon said of China.
“They kind of look at America and say you’re incompetent and lazy. This is true,” he said. “We have destroyed the infrastructure. We have made inner-city schools in a bad state.”
Dimon later added, “But it’s a mistake to say America got the short end of the stick.”
The head of the bank added that the US should imitate China in “taking a leadership position”.
“You see what China is doing in Africa and Asia. We have to do it too,” said Dimon.
He also criticized climate activists for blocking more oil and natural gas production.
“Why can’t we get this through our thick skulls if you want to solve climate [change]not against the climate [change] America to increase more oil and gas? The demon said.
The CEO also said telecommuting hurt efforts to diversify companies because it encouraged people to stay in racial and socioeconomic bubbles.
“You have to look at the flaws in the Zoom world,” Dimon said.
“It doesn’t work for an apprenticeship program. It doesn’t work for spontaneous things.”
Dimon added, “When you come [to work] it’s the rainbow room. But if you live in certain parts of our country and eat there, it’s all white.
“You lose opportunities to meet other people. I think they are cumulatively negative.”
Dimon also advocated what he called “woke capitalism” because “society will be worse off if we don’t wake everybody up.”
Earlier this year JPMorgan responded to the employee pushback upset about having to go back to the office, allowing a more flexible, hybrid model for about 40% of the firm’s employees.