On Tuesday, March 24, Jamie Dimon, the CEO of JPMorgan Chase, stated that while the Iran war may bring short-term risks, in the long run, it might promote the prospects of lasting peace in the Middle East. He also mentioned that winning the Ukraine and Iran wars could greatly benefit future confrontations against China.
Dimon made these remarks during a conference held in Washington D.C. on Tuesday. He told Mike Gallagher, a former congressman and current Palantir executive, that “I believe that in the long run, the Iran war is more likely to lead to peace – the short-term risks may be greater because we don’t know the outcome of the war.”
President Trump stated at the White House that the U.S. military has “achieved victory” in the Iran war, as Iran has agreed not to possess nuclear weapons.
As the U.S. prepares to restart negotiations with Iran to end the war, Dimon emphasized that a key shift lies in the convergence of interests among regional powers. He noted that Saudi Arabia, the United Arab Emirates, Qatar, the United States, and Israel all desire to establish lasting peace, with the Gulf states especially showing a willingness to move in that direction.
“The current attitude is completely different from 20 years ago,” Dimon said. “They all want to achieve peace.”
Iran’s nuclear ambitions have been a major driver of the U.S. military’s “Operation Epic Wrath.” Prior to the U.S. bombing of Iran, three rounds of negotiations between the U.S. and Iran took place. These talks revealed to Trump that Iran was unwilling to abandon its nuclear weapons program and that its uranium enrichment progress could quickly lead to the development of nuclear weapons.
To eliminate the nuclear threat posed by Iran, the U.S. and Israel launched joint operations against Iran starting on February 28. On the first day, Iran’s then Supreme Leader, Ayatollah Khamenei, and several top officials were killed. In response, Iran blocked the Strait of Hormuz, disrupting oil transportation and causing oil prices to soar.
President Trump expressed optimism on reaching an agreement with Iran on Tuesday. He stated that Iran is in talks with the U.S., and their approach is rational.
However, the U.S. military’s deployment is also preparing for the breakdown of negotiations.
Dimon believes that Gulf countries have a continuous need for foreign direct investment, with funds flowing into these nations for many years. However, if the environment becomes unstable, these funds will dry up.
“They cannot allow neighboring countries to launch ballistic missiles at their data centers,” he said.
Trump mentioned that the U.S.’s “Midnight Hammer operation” against Iran in June last year completely destroyed Iran’s nuclear weapons program. He emphasized that recent airstrikes were aimed at preventing Iran from restarting its nuclear project. Additionally, the U.S. aims to dismantle Iran’s missile capabilities to prevent its attacks on Israel and other Middle Eastern allies.
During Tuesday’s interview, Dimon touched on various topics, including national security issues. He stated that in critical industries related to national security, the U.S. needs to collaborate and that was part of the reason why he launched a $1.5 trillion plan last year.
Using the lack of ammunition production as an example, Dimon explained how U.S. policies have put it in a passive position, unable to respond and adjust flexibly, unable to adjust budgets, and unable to change procurement practices.
He also mentioned that over the past few decades, the U.S. government and the corporate sector have made a “huge mistake” in dealing with Beijing, including over-reliance on China for key components.
Furthermore, he added that Americans should anticipate a conflict between the U.S. and China over Taiwan in the future.
Dimon pointed out that Beijing is vigorously developing batteries, automobiles, drones, ships, and more, and he reminded the U.S. to strengthen itself. “We should examine our own shortcomings and prepare to confront them once they become adversaries,” he said.
Dimon further stated that winning the Ukraine and Iran wars would “greatly benefit in dealing with China (the Communist Party).”