Tommy Patrio Sorongan, CNBC Indonesia
Wednesday, 09/27/2023 20:20 IWST
Foto: Bloomberg via Getty Images/Bloomberg
Jakarta, CNBC Indonesia – JPMorgan Chase CEO Jamie Dimon again opened his voice about world banking today. He conveyed this to CNBC TV-18 in India on Tuesday (26/9/2023).
According to him, high inflation or recession in the United States (US) is one of the catalysts that threatens the world banking system. However, this risk is not commensurate with the world’s geopolitical situation, which is currently the biggest threat to global financial markets.
“The public must be prepared to face higher oil and gas prices, higher tariffs, as preparation,” said the man of Greek descent.
“I think the geopolitical situation is the thing that worries me the most, and we don’t know the impact it will have on the economy.”
When asked about pressure in China’s property sector weakening the country’s economy, Dimon once again stated that Eastern Europe was actually the center of risk, with the war in Ukraine straining relations between the economic superpowers.
“For me, what is much more important is the war in Ukraine, oil, gas and food migration, this affects all global relations. And most importantly, the relationship between America and China,” said Dimon.
“I think America is taking this very seriously, I’m not really sure how the rest of the world is going to respond to this. You’re seeing democratic European countries being attacked under the threat of nuclear blackmail. I think it’s a good response, but it will affecting all our relations until the war is resolved.”
Even so, Dimon sees recent engagement between the US and China on issues such as trade and national security as positive. He would like to see more done to rebalance trade and investment relations between Washington and Beijing.
“But it’s not just America, every country is reviewing its grid. What is national security? Do I have reliable energy channels? Do I need semiconductors from China? Where do I get my rare earths? Ukraine is making everyone aware of that that and that is a permanent state now,” explained the head of the Wall Street giant.
Meanwhile, Dimon also commented on the path taken by another world economic giant, India, which is still trying to be neutral in the Ukraine conflict even though it is at odds with the West. According to him, Delhi has made its national security priorities clear.
“India is going its own way. They have made their priorities clear regarding national security and what that means,” he concluded.
Watch the video below:
August 2023 Inflation “Against Historical Data”
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2023-09-27 13:20:00
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