Europe is “losing” the fight for economic supremacy against its main rivals China and the US, and faces a drought of globally competitive companies, the head of JP Morgan has warned. Jamie Dimon, chief executive of the world’s biggest bank, warned EU leaders that the trading bloc had lost its edge compared to America. “You’re losing,” he told an event organised by Ireland’s foreign ministry. “Europe has gone from 90pc US GDP to 65pc over 10 or 15 years. That’s not good. “We’ve got this huge strong market and our companies are big and successful, have huge kinds of scale…
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The New York Budgets is an independently operated digital news outlet focused on business, finance, and wealth rejuvenation. This platform is currently run as a sole proprietorship and is not yet registered as a formal company. All content is authored and published by independent journalists, with a commitment to honest reporting and reader-first journalism. Revenue may be generated through advertising and reader-supported contributions. A formal business registration will follow as the platform grows.
© 2026 The New York Budgets