Jamie Dimon Apologizes on His Joke about the Chinese Communist Party

Speaking at a previous occasion, Jamie Dimon, the CEO of JPMorgan, expressed his regrets about making a joke referring to the Communist Party’s 100th anniversary during his earlier trip to Hong Kong. In his remarks, Jamie compared the 100th anniversary of the communist party to the recent celebration of his company as it attained 100 years of operation in China. Moreover, he also stated that he was optimistic that the company would last longer in the country. While chuckling, he also expressed his preservations of saying the statement in China because they could be listening.

The statements were seen as an unusual display of frankness from a highly-respected business executive concerning the leadership of the second-largest economy globally. However, Dimon expressed his regrets about making the statement later. He stated that his aim was only to express the longevity and strength of their company.

Moreover, the company’s spokesperson emphasized that the institution was committed to China and that the CEO had clearly stated during an interview in Boston that China and its citizens are thoughtful and intelligent people. The spokesperson also added that Dimon understands and respects that someone should not speak disrespectfully or lightly about another county or its governance.

Notably, the largest bank in the United States made a significant achievement in China during the previous years, where the firm enjoyed various privileges. This year, the institution recently won the regulator’s approval to assume complete ownership of its China securities investment, indicating that the country was further giving opportunities to international companies.

In a speech at the time, Dimon referred to China as one of the largest global opportunities for several of their customers and JPMorgan Chase.

The CEO also recently made headlines during his visit to Hong Kong, where he was accorded a special authority exclusion to skip one of the largest quarantines globally.

Carrie Lam, the Hong Kong leader, stated that CEO was granted special permission based on Hong Kong’s economic interest. The leader cited the bank’s business size, which hosts its regional headquarters, as one of the reasons for the particular exemption.

Dimon also referenced the trip to Hong Kong, stating that he doesn’t possess the freedom of speech in China as he does in Hong Kong. However, he didn’t explain further. The CEO was giving an address at Boston College, where he spoke widely concerning China, the United States, and other topics. At one instance, he compared both countries’ economic and political approaches, stating the US was gifted to have freedoms of speech, enterprise, religion, immigration, and human capital.

Leave a Reply

Your email address will not be published. Required fields are marked *