Don't count on China to yield to US demands, I have no hope for their submission to the US.
Jamie Dimon, CEO of JPMorgan Chase, warned on Friday, "Don't count on China to yield to US demands."
The US government should not take it for granted that China will give in under sustained trade pressure. His words represent a sharp challenge to the assumptions underlying the government's China policy by the head of America's largest bank.
Dimon: "I hold out little hope for this idea that 'they will inevitably submit to the US.' When China faces problems, they will deploy 100,000 engineers to solve them. They have been preparing for this situation for many years."
The Trump administration has consistently maintained that China would eventually have to back down under the heavy blows of tariffs because its economy could not withstand the pressure of being excluded from the US market.
China has long prepared for various contingencies and unexpected changes over the years. For example, the blockade of AI technology and the cutoff of engine supplies.
Original source: https://www.toutiao.com/article/1833598132635660/
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