JP Morgan's Dimon offers sweeping view of challenges facing US and world in pandemic year, highlighting inequality
Published
Apr 07 2021 at 10:59 AM GMT
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- Chairman and CEO Jamie Dimon published his annual letter to shareholders on Wednesday, and as usual offered a broad review of the state of the world after a year of a global pandemic, focusing on the role of a corporation, lessons from leadership and U S' public policy and the widening wealth gap.
- "Our nation is clearly under a lot of stress and strain from various events: the COVID-19 pandemic, of course, which has taken more American lives than the total lost in World War II, the Korean War and the Vietnam War combined, resulting in acute economic distress for millions more; the brutal murder of George Floyd and the racial unrest that followed; the divisive 2020 presidential election, culminating in the storming of the Capitol and the attempt to disrupt our democracy; and the seemingly inevitable, but nonetheless alarming and unnerving, rise of China, threatening America's global preeminence," Dimon wrote.
- America has "faced tough times before," he said, adding that these problems are fixable.
- But first the institutions that have lost the trust of the people -- governments, schools, media and businesses -- must regain it and understand that the underlying problem is inequality.
- ".The enormous wealth of our country is accruing to the very few," he said.
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- Published Apr 7, 2021 10:59 AM GMT