'Jamie Dimon has transformed JP Morgan Chase not only into a national financial treasure but also a behemoth in global financial markets. When he speaks, markets and politicians listen... But Dimon was in China last week. Why?' -James Rogan
that he should run for the White House. Which begs a question: as a top member of the national economic elite and as an aspiring national political figure, why is Jamie Dimon serving as a foil in China’s strategic plan to supplant the U.S. as the foremost global power?
As a member of the global financial elite, Dimon’s visit to China to attend a JP Morgan financial markets conference sends a clear signal to non-Chinese companies and to global investors that China is attractive for investment. His visit will draw foreign capital and investment into China. This is something that Beijing desperately needs because China is experiencing not only capital flight — wealthy Chinese are afraid of China’s supreme ruler, Xi Jinping.
China is also in the early stages of an economic doom loop. Its economy is faltering. China’s economy will not collapseas its population declines, as its labor market continues to slide toward global noncompetitiveness, and as the leadership of the Chinese Communist Party diverts scarce capital from the dynamic private sector to the moribund state sector. Yet, by attending a JP Morgan-sponsored conference in China, Dimon is implicitly suggesting that China is a good place for U.S.
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