China and Russia are "clearly talking about dismantling the system" established by Western nations after World War II, and "the risk of this is extraordinary," the JPMorgan CEO said at the Institute for International Finance's annual meeting in Washington, DC on Thursday. Business Insider obtained a recording of his comments. Dimon emphasized the risk that global warfare could break out, citing his historical knowledge and a recent Washington Post article that said, "World War III has already begun."
"You already have battles on the ground being coordinated in multiple countries," the billionaire banker said. The fighting could diminish and peace deals might be struck, but "mistakes happen," he said.
"So, to me, we shouldn't be naive," Dimon said. "We can't take the chance this will resolve itself. We have to make sure that we are involved in doing the right things to get it resolved properly for the sake of the free democratic Western world for the next 100 years."