Jamie Dimon mocks Mark Carney’s middle-power coalition as ‘fantasy,’ says Europe already tried it

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JPMorgan Chase CEO Jamie Dimon dismissed Canadian Prime Minister Mark Carney’s proposal for a coalition of middle powers as a fantasy, arguing that Europe already tried a similar approach and saw its economic competitiveness decline. Speaking at the Council on Foreign Relations’ CEO Speaker Series, Dimon said Europe’s GDP has fallen from 90% of America’s to 70%, and he expects further erosion due to high taxes. He contrasted the size of U.S. capital markets with Europe’s, saying America’s larger stock market reflects policies that encourage investment. Rather than building new geopolitical blocs, Dimon suggested Europe should focus on creating a true common market with growth-oriented policies.

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