Jamie Dimon’s warning about Europe’s dwindling competitiveness was entirely accurate. It would have been even more so had he singled out the primary reason: Europe’s adherence to the Paris Climate Agreement.
Recently at the Reagan National Defense Forum, JPMorgan CEO Jamie Dimon delivered a hard truth to Europe. “They’ve gone from 90% of the GDP of America to 65. That’s not because America did anything bad to them. It’s their own bureaucracy, their own cost… They do some wonderful things on their safety nets, but they’ve driven business out, they’ve driven investment out, they’ve driven innovation out.”
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