"World War III has already begun. There are already battles on the ground being coordinated by a number of countries," JP Morgan CEO Jamie Dimon told the annual meeting of the Institute of International Finance, raising global concern about how the conflicts in Ukraine and the Middle East will play out.
The latest geopolitical developments are causing concern across the globe
He believes that these wars are already a global conflict.
"I'm talking about the risk we face if these things go wrong," Dimon said. "We are running scenarios that will shock you. I don't even want to mention them," he added, with news.com.au echoing his statements.
Dimon said China, Russia, North Korea and Iran represent an "axis of evil" aimed at destroying the cooperative global community created after World War II.
"They say they're going to do it now," Dimon warned the gathering of world economic leaders. "They are not talking about a 20-year wait. And so the risk of this venture is huge, if you read the story," he said.
This is a threat that goes beyond the global economic "soft landing" and climate change, he added.
"It may come down over time," predicted the influential Wall Street billionaire.
"But mistakes happen," he said pointedly.
“Look how we got into World War II. When Czechoslovakia broke up – sounds a bit like Ukraine – that was the end. Until they invaded Poland," he recalled.
Dimon is not the only voice heard
The same medium notes that Dimon is not the only one who has made such a statement about global geopolitical developments.
The outgoing commander of US military forces in the Pacific region told a defense conference in Washington earlier this month that the growing cooperation between dictators and authoritarian powers has created a "very dangerous combination".
"There is a limited regional war going on in Europe," said General Charles Flynn.
“There is a limited regional war in the Middle East. We cannot afford to have another limited regional war in Asia. Why? Because it will be a global problem for all of us," he stressed.
News.com.au then refers to recent statements by the leaders of China and Russia, noting that last week the White House National Security Council confirmed it had observed the presence of approximately 3.000 North Korean special forces within the of Russia. The Pentagon added that it believed up to 10.000 were being mobilized, with units already en route to Ukrainian front lines.
"North Korea's large troop deployment in Russia represents a troubling new phase in the Russia-Ukraine war, while having deeper implications for global politics," said Brookings Institution analysts Andrew Yeo and Hannah Foreman.
It is the first deployment of troops between what many call the "Axis of the Autocrats." But it is not the first example of mutual support.
"Since August 2023, Russia has reportedly received 13.000 (North Korean) containers containing artillery shells, anti-tank missiles and short-range ballistic missiles to replenish nearly depleted Russian ammunition and weapons," the Brookings analysts said.
In return, they said, President Kim Jong-un would likely receive greater economic access to Russian markets and military-technical assistance for its nuclear, satellite and missile technologies.
"We cannot be naive"
"We cannot be naive," said JP Morgan's Dimon.
"We can't just leave it to the possibility that this is going to work itself out – we have to make sure we're doing the right things to get it done the right way," he said.
"And the nuclear threat must be taken seriously," he added.
Alongside these statements, Brookings analysts emphasize that:
"If Russia further enhances North Korea's military capabilities and delivers troops and munitions to Pyongyang through its Far East, the United States and its allies in Europe and Asia should prepare for a new phase of greater instability and possible escalation in Northeast Asia."
Source: in.gr