Jamie Dimon warns that World War III may already have begun

At the annual meeting of the Institute of International Finance in Washington, JPMorgan Chase CEO Jamie Dimon warned that escalating conflicts and alliances between US adversaries indicate the early stages of a potential World War III.

Dimon highlighted the simultaneous threats posed by the Russia-Ukraine war, escalating tensions in the Middle East and increased cooperation between countries such as Russia, China, North Korea and Iran.

“The risk is extreme,” Dimon warned, noting coordinated military efforts in these regions and their potential to destabilize the global economy.

“Recent events show that conditions are treacherous and getting worse,” he said, growing concerned that U.S. adversaries are seeking to upend the post-World War II global order.

Dimon’s position echoes concerns of other financial leaders, including Ray Dalio, founder of Bridgewater Associates, who warned of the “increased likelihood” of a major conflict involving the US and China.

Geopolitical strategist Ian Bremmer also recently pointed out the instability of the current world order, citing growing tensions that could escalate into a larger confrontation if not resolved.

Dimon emphasized that JPMorgan’s risk management teams analyzed worst-case scenarios and came up with alarming results. “We must approach these threats with caution and unity,” he said, stressing the importance of robust diplomatic efforts to avoid dire consequences for global stability and economic security.