Jamie Dimon on World War 3

JPMorgan Chase CEO Jamie Dimon issued a stark warning of the potential onset of World War III, citing escalating conflicts in Ukraine and the Middle East and increased cooperation among U.S. adversaries like Russia, China, and Iran. During a speech at the Institute of International Finance’s annual meeting, he expressed that the geopolitical landscape is treacherous, stating, 'World War III has already begun,' and that coordinated military actions across multiple regions pose extraordinary risks. Dimon emphasized the serious implications for global economic stability, with his bank’s risk management teams considering scenarios that could lead to catastrophic outcomes if conflicts intensify. He highlighted nuclear proliferation as a significant concern, particularly if countries like Iran acquire nuclear capabilities, which could trigger a broader arms race. Dimon’s concerns align with those of other financial experts, including Ray Dalio, who have noted the rising likelihood of major conflicts involving the U.S. and China. He underscored the necessity for Western unity and proactive diplomatic efforts to prevent dire global consequences.