- Russia defeating Ukraine may spark chaos and slam the worldwide financial system, Jamie Dimon stated.
- The JPMorgan CEO stated a Putin victory may gasoline a nuclear arms race and set off extra battles.
- Dimon warned US-China tensions and wars in Europe and the Middle East threaten the world order.
A Russian victory in Ukraine may throw the world into disarray, rework the worldwide financial system, and set off nuclear proliferation and additional conflicts, Jamie Dimon warned.
“It could be a potential disaster,” the JPMorgan CEO instructed The Wall Street Journal this week.
Dimon emphasised that Russia has invaded a free, democratic nation and threatened nuclear struggle to discourage resistance.
“We’ve never had nuclear blackmail before, which is also teaching the whole world that maybe having nuclear weapons is a pretty good thing because people will be afraid of you — you can abuse a neighbor if you feel like it,” he stated.
The boss of America’s greatest financial institution cautioned that if Russia conquers Ukraine, different international locations might query whether or not they can depend on the US to defend them from army assaults, or to have their again on the “economic battlefield,” Dimon stated.
Governments worldwide will reassess the safety of their meals, power, and different essential assets, and would possibly resolve to associate with different international locations, he added.
“I’m a little worried that if Russia wins that war, you’re going to see the world enter a little bit of chaos as people realign alliances and economic relationships.”
The billionaire banker has been sounding the alarm on the tumultuous international setting for some time.
“The geopolitical situation is probably the most complicated and dangerous since World War II,” he instructed the Economic Club of New York this week, including that the world order is being “challenged.”
In his annual letter to JPMorgan shareholders this month, Dimon pointed to the wars raging in Ukraine and the Middle East, the US and China clashing over points like commerce, and the latest spike in terrorist assaults as proof {that a} traditionally “treacherous” period might have begun.
In a September interview, Dimon flagged the Russia-Ukraine struggle as the best risk to the world, and stated international locations had been worrying about counting on different international locations for every little thing from meals and power to microchips and rare-earth metals.
He added that the battle might be an “inflection point for the free democratic world,” and stated there’s “no playbook” for navigating the present geopolitical melee.