Chapter 885: Complaints

"Together, we have discovered that the free market can only thrive if it is built on principles that guarantee competition and fair play.

...

We, the people, still believe that our obligations as Americans are not just to ourselves, but to future generations.

We will respond to the threat of climate change, recognizing that failure to act would be a betrayal to our children and future generations.

Some may still deny the overwhelming judgment of the scientific community, but no one can avoid the catastrophic blows of fires, severe early disasters, and more powerful storms.

The road to renewable energy is long and sometimes difficult.

But America cannot resist this trend, we must lead it.

We cannot give the technology to create new jobs and new industries to other countries, we must declare this commitment.

..."

Time entered 2013. On January 21, Obama was sworn in as the President of the United States on Capitol Hill, starting his second term.

And Barron also came to Washington, DC from Lanai at this time. He and Ivanta were invited to attend Obama's inauguration ceremony.

It must be said that O Guanhai's speech was indeed very inspiring, but when Barron thought about some of the policies of the United States in the future, he couldn't help but feel a little ironic.

"Your Highness, my friend, I am very happy that you can come today..."

After finishing his speech, O Guanhai hugged Barron warmly and said.

"Congratulations, sir, today is a historic moment, and it is also the best footnote to your fruitful work in the past four years."

In such an occasion, O Guanhai is still very busy. After all, he has to take care of every guest. Even if Barron is one of his most important guests, he can only chat a few more words at most, but he still agreed to meet again in private before leaving.

"Many members of Capitol Hill are very dissatisfied with Cameron's previous trip to China, Your Highness."

At this time, the person who came to Barron was Jimmy Dimon, chairman and CEO of JPMorgan Chase.

Jimmy Dimon has a rich and interesting career in the American financial industry. In fact, he first joined American Express Group and served as an assistant to Sandy Weill, the president of American Express Group. After Sandy Weill stepped down, he left American Express with him and took over the Baltimore Commercial Credit Company together.

Through a series of mergers and acquisitions, the two developed the company into Travelers Group. In 1998, after the $70 billion transaction between Travelers Group and Citigroup, the huge new Citigroup empire was born. Sandy Weill and John Reed, the former CEO of Citigroup, jointly ran the new Citigroup.

However, shortly after the merger of the two, Jimmy Dimon and Sandy Weill, who was both his teacher and father, fell out and left Citigroup, ending their 17-year partnership.

In 2001, after lying dormant for several years, Jimmy Dimon chose to go to Chicago and take over First Bank of America. In just a few years, he turned the bank into a "Western Citigroup". Later in 2004, JPMorgan Chase acquired Bank One for $58 billion, and the size of the merger was second only to Citigroup.

It is said that one of the important reasons why William Harrison, the CEO of J.P. Morgan at the time, acquired Bank One was to choose Jamie Dimon as his successor.

It can be said that Jimmy Dimon's many experiences and his success in running JPMorgan Chase made him a big figure in the American financial industry - he has been the head of JPMorgan Chase for more than 20 years. From 2004 when he became the chairman and CEO of JPMorgan Chase, until Barron's rebirth, Jimmy Dimon still led JPMorgan Chase, the giant of the American banking industry.

"I can think of such a result, but so what? Whether it is America or Britain, they cannot ignore the cooperation with China in terms of economy, so there is no need to create conflicts in the process - politics is politics, and economy is economy. If you don't understand this point and just create issues blindly, there is no need for such politicians to waste time."

Barron's relationship with Jimmy Dimon is still good. Not only does Standard Chartered-Merrill Lynch have many cooperations with JPMorgan Chase, but the British Times Wealth Fund (BTF) controlled by Barron itself holds 8.5% of JPMorgan Chase's shares and is one of their major shareholders.

Of course, even so, their interests cannot be completely consistent, but at least for now, the relationship between the two sides is still very harmonious.

He smiled and said to Jimmy Dimon:

"Huaxia's development cannot be ignored. No one will want to miss out on participating in it, and I believe JPMorgan Chase is no exception."

"I agree with you. JPMorgan Chase currently has a strong wholesale banking business in Huaxia and is also looking for opportunities to enter retail banking through mergers and acquisitions..."

He shook his head and said:

"I know that Standard Chartered Bank has a lot of cooperation with some Huaxia banks and has invested in some of them. However, in my opinion, Huaxia's regulations on foreign investment only allow 20% of the equity, which is not very attractive to us. I will proceed at my own pace. I have time and patience."

Barron did not give much response to Jimmy Dimon's statement-he understood that JPMorgan Chase was very ambitious, which was also the result of the United States' financial policy forcing other countries.

However, China has always been cautious about foreign investment in its financial industry. After all, there are too many precedents. If China opens up too early, it will naturally become a piece of fat meat that attracts vultures.

Barron understands that the main reason why those American congressmen have complaints about Cameron's visit to China is that at the moment when the US "Asia-Pacific Rebalancing" strategy is launched, Britain's "eastward" intimate behavior is too eye-catching.

But so what? Britain itself needs to consider its own interests more, and as he said, politics is politics, but only fools will not want the benefits of economic cooperation.

Isn't America the same? It says no, but its body is very honest. It has done a lot of economic cooperation with China, and it also complains that the other party is not opening up its industry fast enough...

Don't look at some voices in America now accusing Barron of investing too much in China, and suspecting that he has the suspicion of technology transfer, but in fact, most of them are jealous and jealous - they just hate themselves for not seeing the opportunity in advance and investing...

After all, from the current point of view, Barron's investment in China is very successful and has also obtained rich returns.

I believe that if these people have the opportunity to choose, they will not hesitate to learn from Barron's approach...

Capitalists, as long as the benefits are enough, they will not refuse to sell the rope to hang themselves.