JPMorgan CEO emphasizes that Europe will lose to China and the USA

Dublin – Western Europe is “defeated” in economic competition with its main competitors, China and the United States (USA), and is fighting the lack of global competitive companies. The application was identified by JPMorgan Chase Director General Jamie Diamon.

Since 2022, when the European Union (EU) has invested mass sanctions on Russian energy related to the conflict of Ukraine, growth throughout the bloc was stagnant.

Germany, which was once the center of economic power, is currently experiencing the third year of the economic recession.

Moscow believes that restrictions on the European Union are harmful to itself, which leads to an increase in energy prices and weakening the economy of the bloc.

Diamon, the general director of one of the largest banks in the world, warned the European Union leaders in the event in Dublin held by the Irish Ministry of Foreign Affairs on Thursday that Europe has lost its competitiveness compared to the United States and is faced with an increasing crisis of economic competitiveness.