He believes America doesn't need to fear China: Who is Jamie Dimon?

Dimon, who previously served in FED New York, is the grandson of a grandfather who worked as a banker in Izmir and Athens. The family's previous name is Papademetriou. His grandfather and father were banking in the USA.

James Dimon (born March 13, 1956) is an American billionaire business executive and banker, who has been the chairman and chief executive officer of JPMorgan Chase since 2005. Dimon was previously on the board of directors of the Federal Reserve Bank of New York. Dimon was included in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. Forbes estimated his net worth at $1.6 billion as of June 2023.

The world's four largest giant Chinese state banks are Industrial and Commercial Bank of China, Construction Bank of China, Agricultural Bank of China, and Bank of China.

Will the king of Wall Street enter politics?

Dimon's trademark is getting work done. Impatient, opportunistic, and pragmatic: It keeps going under all conditions. Duff McDonald's biography says it's always been like that. When his calculus teacher left in the 12th grade, he learned mathematics by himself.

Sandy Weill, a Wall Street veteran, liked the article Dimon wrote in college about a merger he had accomplished, and offered him a summer job. After graduating from business school, Dimon started working at American Express under Weill. He turned down offers from Goldman Sachs and Morgan Stanley just because he thought he wouldn't be happy with his money moves. Because he wanted to build something new.

In the 40-odd years that have passed, Dimon achieved all his dreams at the same speed as that day. He remained under Weill's wing for over a decade. As a result of numerous agreements to which he also contributed, the bank he worked for was named Citigroup.

When the relationship between the two fell apart, Dimon was appointed head of Bank One, which was the fifth-largest bank in America at that time. He became CEO of the new owners when Bank One was acquired by JPMorgan Chase at the end of 2005. Thanks to its commitment to the sustainability of solid capital reserves, JPMorgan survived the century's biggest financial crisis relatively unscathed. It is now the most successful bank in the USA and the most valuable bank in the world by far. During the Dimon era, shareholders posted a slick annual gain of 10.6 percent. That figure was double that of most big banks, and it's far beyond the depreciating Citi.

Grown to the limit

All of this doesn't seem to slow Dimon down much. But it may have shortened the to-do list a bit. Desiring to build something, the man built the Versailles Palace, or Taj Mahal, of banking.

JPMorgan's investment bank is in the top three in almost all areas in which it operates. Its commercial bank is America's largest. It cannot grow very fast because it is so large and banks with more than 10 percent of total deposits in the US are prohibited from making new purchases.

The only exception to the rule was to bail out a bankrupt bank, as JPMorgan did for the First Republic in April.

There is another construction project at the moment, but JPMorgan's new headquarters building on Park Avenue, which will be home to 14,000 employees when completed, hasn't quite satiated Dimon's appetite for construction.

He is not afraid of China, nor is he afraid of the crisis.

Therefore, he directs his energies to other problems. He doesn't care about the mini-crisis of banking and the possibility of recession (moderate or severe, in any case, more concerned about the situation in Ukraine and food security in Africa). He says he is a “manly, outspoken, free-enterprise patriotic American who has been disappointed by the slow pace of economic growth over the past decade.”

Dimon is sincerely excited about the fight to reduce the cost of education.

He thinks that the US should not be afraid of China and wants an open dialogue with China to begin. According to him, the Chinese are not "big enough to be feared". They import oil, they have no food security, and their armies are weakened. “They may have caught up with us in some areas, but I don't agree with the idea that America should be afraid of China,” he says. His annual letters to shareholders used to be limited to his views on business and banking, but now contain more political ideas than the average American election campaign.

When he was fired by Weill, his only reaction was to say "OK". “Is that all?” John Reed, a Citi executive, was astonished. Dimon asked, “It is. Obviously, you have made a decision.”

Dimon's interest in public policy, determination, resources, and ambition always point in the same direction: his political career. But it immediately erases that possibility.

It's harder to know how to navigate the political arena or election campaigns. Dimon says the transition from business to politics is tricky: “I think it's very difficult. In fact, if we look at history, it is almost impossible.” President Donald Trump sees his example as the exception, not the rule.

Is the path of politics completely closed?

He may not want the leadership of the free world. So you don't have a ministry in mind?

“It may come up one day. I love my country. My family comes first for me. But my country is right behind him. JPMorgan is over there,” he says, lowering his hand to the ground.

As a realist, he must know that it is unlikely that he will be appointed to the treasury ministry, which seems to be the most suitable position for him.

We have 300 thousand employees

The road from Wall Street to government isn't as smooth as it used to be. Democrats have long been skeptical of the top of the financial world. Republicans, on the other hand, took this stance even further with the populist Trump.

“The greatest contribution I can make is my job at JPMorgan. We have 300 thousand employees. We try to take good care of them, we offer opportunities.”