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Jamie Dimon on 2 explanations why China is to call America incompetent and lazyand 1 reason its wrong

China considers America incompetent and lazy, JPMorgan CEO Jamie Dimon said on a Tuesday client call.

There’s truth compared to that, he acknowledged.

Two specific types of mistakes America has made, in accordance with Dimon, as reported by Yahoo! Finance: We’ve screwed up infrastructure. We’ve screwed up inner-city schools.

But I believe this is a mistake to state that America gets the short end of the stick, he added.

One area where America has gotten it (mostly) right, per Dimon: military might.

We’ve the very best military on earth, but we’ve overused it, he said. You see what China does in Africa and Asia. We have to do this too. America must have a leadership position.

The Chinese would like to determine a military naval base in Africain Equatorial Guinea on the Atlantic coast, posing a threat to U.S. national security, Army Gen. Stephen J. Townsend, commander of U.S. Africa Command, told Congress in March.

In Africa, several troops and some bucks still go quite a distance. Modest and predictable resourcing yields outsized returns for U.S. and African security, he told the home Armed Services Committee, based on the Department of Defense.

Africa Command receives significantly less than a third of 1% of the Defense departments annual budget and manpower, in accordance with Townsend.

In June The Washington Post reported that China had secretly built a naval military base in Cambodia, though both countries denied the news headlines. It destroyed U.S.-built buildings to create room for the installation, in accordance with reports.

China also offers a base in northern Africain Djibouti, which borders the Red Sea. Nearby, the U.S. also offers a military base, its only permanent one in Africa.

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