JPMorgan chief Jamie Dimon says China has ‘serious issues’ – and lays out what the US needs to do to push back against Beijing

(Business Insider) JPMorgan chief executive Jamie Dimon has said China faces “serious issues” regarding its energy and food usage – and urged the US to take more of a stand against Beijing.

Dimon pointed out China is far more reliant on imports than the US in a call to wealthy clients last week that was first reported by Yahoo Finance.

“They don’t have enough energy and food. We do,” Dimon said. “They use 14 million [barrels of oil] a day and they import something like 10 or 11. Those 10 or 11 are going by pipeline or ship.”

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Tensions between the US and China have rattled markets this year, with major indices slipping when the Speaker of the House, Democrat Nancy Pelosi, touched down in Taiwan on August 2.


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