Jamie Dimon says China has been “more consistent” in its international relations but US is still a "safe haven"

JPMorgan CEO Jamie Dimon Maintains Optimism on U.S. Economy Amid Global Turmoil

Sources: Financial Times, Bloomberg

Published MAY 20, 2026

Jamie Dimon, the chief executive of JPMorgan, asserted that the United States remains a "safe haven" for investors, even as it faces unexpected challenges. Speaking to Bloomberg TV at a financial conference in Shanghai, Dimon addressed shifting perceptions of the U.S. economy amid geopolitical developments and recent upheavals under President Donald Trump.

Despite these complications, Dimon emphasized that "America is still a safe haven — we just surprised people recently." His comments reflect a growing sentiment among business leaders who are reevaluating their views on the global economic landscape, particularly in relation to China.

Dimon noted that China has been “more consistent” in its international relations lately, a shift that may change how global investors perceive the world's second-largest economy. His remarks come as leaders from traditional U.S. allies, including the U.K. and Canada, have visited Beijing to negotiate trade and cooperation agreements.

The JPMorgan chief highlighted the potential for rising bond yields due to increasing U.S. deficits and a surge in expenditures related to artificial intelligence. "We may have gone from a saving glut to not enough savings," he remarked, pointing to economic adjustments that may lie ahead.

In an effort to bolster U.S. national security, JPMorgan launched a $1.5 trillion "security and resilience initiative" last year, aimed at supporting sectors deemed essential over the next decade. The bank has also committed to expanding its investments in companies across the U.K. and Europe.

Dimon expressed admiration for China's innovations in various sectors such as renewable technology and industrial hardware—areas that have garnered significant interest from global investors. He acknowledged a downturn in parts of JPMorgan's Chinese business, which, in previous years, faced challenges due to tense geopolitical relations and a slowing Chinese economy.

During the conference, Dimon also defended Standard Chartered CEO Bill Winters, who recently faced criticism for referring to staff layoffs as “lower-value human capital.” Dimon cautioned that job losses resulting from AI advancements could be substantial but also noted that new job creation would follow. He urged society to consider the implications of rapid technological change on employment.

Regarding the impact of AI on JPMorgan, Dimon acknowledged that job reductions are inevitable but noted the uncertainty surrounding the specifics. "It’s kind of at the early stages," he stated.

Finally, Dimon took aim at New York City Mayor Zohran Mamdani's administration, arguing that anti-business sentiments would not benefit the city's economy. "A lot of people who are paying billion-dollar taxes left," he stated, questioning the benefit of such departures to lower-paid workers in New York.