JP Morgan CEO Jamie Dimon apologises for Chinese Communist Party joke

A banking heavyweight has issued a grovelling apology after touchdown in scorching water over a crack on the Chinese Communist Party.

A financial institution boss has apologised after making a clumsy joke on the Chinese Communist Party’s expense, sparking intense backlash.

The drama started at an occasion in Boston within the US earlier this week, when the CEO of funding financial institution JP Morgan, Jamie Dimon, revealed he had “made a joke” throughout a latest go to to Hong Kong, which referred to the CCP’s one centesimal anniversary.

“The Communist Party is celebrating its 100th year. So is JP Morgan,” Mr Dimon stated.

“And I’ll make a bet we last longer.

“I can’t say that in China,” he continued. “They probably are listening anyway.”

At the occasion, the outspoken CEO additionally raised many eyebrows by making imprecise feedback about “freedom of speech” each in China and Hong Kong.

“Obviously, I don’t have freedom of speech in China … like I have in Hong Kong. I don’t have it in Hong Kong anymore either,” he stated.

The feedback proved to be controversial inside China and throughout the globe, sparking fears it may hurt the financial institution’s relations with Chinese elites in addition to the establishment’s plans to increase within the extremely profitable market.

Within hours, Mr Dimon had issued an announcement apologising for his selection of phrases, which was extensively interpreted as an try and include the backlash as quickly as potential.

“I regret and should not have made that comment,” he stated.

“I was trying to emphasise the strength and longevity of our company.”

The apology was then bolstered by a JP Morgan spokesperson, who stated, “China and its people are very smart and very thoughtful”, in accordance with CNN.

“Dimon acknowledges that he should never speak lightly or disrespectfully about another country or its leadership.”

Despite the swift apology, Mr Dimon’s feedback sparked intense backlash on social media, with Fudan University lecturer Shen Yi labelling the financial institution boss “arrogant” on Weibo.

And unsurprisingly, Hu Xijin, the editor-in-chief of CCP mouthpiece the Global Times, additionally caught the boot in, posting on Weibo in response that: “I bet the Chinese Communist Party will outlast the United States of America.”

However, it’s not the primary time Mr Dimon has made worldwide headlines with an unlucky, headline-making gaffe.

In 2018, he famously instructed attendees at a New York occasion that he may beat former US President Donald Trump in an election, as he was the smarter of the 2.

“I think I could beat Trump,” Mr Dimon stated on the time.

“Because I’m as tough as he is, I’m smarter than he is. I would be fine.

“He could punch me all he wants, it wouldn’t work with me. I’d fight right back.”

But once more, he backtracked nearly instantly, saying in an announcement quickly after: “I should not have said it. I’m not running for president.”

Read associated subjects:China

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