China gives first real reaction to Dimon gaffes but will there be a backlash? | Business News

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What was he thinking?

That is the question all of Wall Street is asking after Jamie Dimon, chief executive of JP Morgan Chase, was forced to apologise not once, but twice, to China for comments that he made earlier this week.

Mr Dimon was addressing a group of US business leaders at a lunch on Tuesday when he noted that the Chinese Communist Party is celebrating its hundredth year.

He said: “So is JPMorgan. I’d make you a bet we last longer.”

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JP Morgan chief executive Jamie Dimon made his remarks at a lunch for business leaders. File pic

The world’s most influential banker added, laughing: “I can’t say that in China. They probably are listening anyway.”

It is not known whether the Chinese were listening. But they quickly became aware of Mr Dimon’s comments.

By Wednesday, Mr Dimon had…

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