JPMorgan CEO Flirted With Communist China and Then Bent Over Backwards To Apologize for His Interests in China

【Japan Himalaya League】 Author: Beiji  Translator: Ranting

JPMorgan Chase CEO Jamie Dimon issued a statement on Wednesday (Nov. 24) apologizing for previous comments flirting with the Chinese Communist Party, according to a Nov. 25 report on the Voice of America’s Chinese website. He also said he did not want the matter to have an adverse impact on his company’s business in China.

The incident began on Tuesday when Dimon revealed at the CEO (Chief Executive Officer) Interview Series at Boston College that he had teased the Chinese Communist Party about its life expectancy being no match for JPMorgan Chase Bank on the day it celebrated its 100th birthday.

Image from Voice of America

Dimon later said in a statement released by JPMorgan, “I regret and should not have made that comment.” He added, “If I were in (Communist) China, I would never say such things.”

JPMorgan Chase finally passed the approval of the Chinese Communist Party regulators this year, becoming the first wholly foreign-owned brokerage firm to enter Communist China.

Eswar Prasad, a professor at Cornell University, commented on the matter, saying that Dimon’s forced apology shows the arrogance of the Chinese Communist Party. Foreign companies wanting to gain market access to the CCP have to express humility to the CCP government in order to preserve its face.

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Posted by: Ranting

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