Modern warfare has exposed a costly gap between what militaries need and what the industrial base can deliver. General Chris Cavoli (Ret.), former Supreme Allied Commander Europe, and Mark Marengo, head of diversified industries investment banking at J.P. Morgan, discuss why closing that gap will take new ways of solving problems and closer partnership between capital, industry and government. This episode was recorded on October 2, 2026. This material was prepared by certain personnel at the Investment Banking Group of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide, and not the firm's research department. It is for informational purposes only. It is not intended as an offer or solicitation for the purchase, sale, or tender of any financial instrument and does not constitute a commitment, undertaking offer, or solicitation by any JP Morgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity. Copyright 2026, JPMorgan Chase & Co., all rights reserved.
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