{"id":371665,"date":"2021-11-24T02:44:30","date_gmt":"2021-11-23T23:44:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bank-will-outlive-chinas-communist-party\/"},"modified":"2021-11-24T02:44:30","modified_gmt":"2021-11-23T23:44:30","slug":"bank-will-outlive-chinas-communist-party","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bank-will-outlive-chinas-communist-party\/","title":{"rendered":"#Bank will outlive China\u2019s Communist Party"},"content":{"rendered":"<p>&#8220;<strong>#Bank will outlive China\u2019s Communist Party<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>JPMorgan CEO Jamie Dimon threw down the gauntlet in a speech Tuesday \u2014 at least as a joke: He said his bank will outlast the Chinese Communist Party.<\/p>\n<p>\u201cI made a joke the other day that the Communist Party is celebrating its 100th year \u2014 so is JPMorgan,\u201d Dimon said. \u201cI\u2019d make a bet that we last longer.\u201d<\/p>\n<p>He acknowledged the eyebrow-raising nature of his comments. \u201cI can\u2019t say that in China,\u201d Dimon said. \u201cThey are probably listening anyway.\u201d<\/p>\n<p>The bank first entered China in 1921, the same year the country\u2019s Communist Party was established.<\/p>\n<p>He reiterated JPMorgan\u2019s commitment to operating in the country even as he acknowledged longstanding tensions with the US. He said issues like unfair trade practices should\u2019ve been addressed earlier \u2014 but added JPMorgan can\u2019t sever business ties with a country just because it disagrees with a policy. <\/p>\n<p>In August, JPMorgan was granted permission from the Chinese government to take full and independent ownership of its securities business. It was the first foreign bank to win this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval. At the time, Dimon said, \u201cChina represents one of the largest opportunities in the world for many of our clients and for JPMorgan Chase.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/jamie-dimon-jp-morgan-chinese-communist-03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"China's Communisty Party\" class=\"wp-image-20251428\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/jamie-dimon-jp-morgan-chinese-communist-03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/jamie-dimon-jp-morgan-chinese-communist-03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/jamie-dimon-jp-morgan-chinese-communist-03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>JPMorgan has full independent ownership of China\u2019s securities business.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Dimon also addressed hot topics including the US economy and cryptocurrencies in his wide-ranging remarks Tuesday.<\/p>\n<p>The hard-charging CEO said he believes the US economy is \u201cbooming\u201d and expects more monetary and fiscal stimulus. He said inflation worries will soon pass as supply chain worries are ironed out. <\/p>\n<p>He was less optimistic about oil. \u201cThere are other things which are probably not that transitory \u2026 I don\u2019t think oil prices are going down,\u201d Dimon said.<\/p>\n<p>And Dimon was, once again, highly skeptical on cryptocurrency. <\/p>\n<p>\u201cIt is not really a currency \u2026 It is hysteria,\u201d he said. Dimon has made countless headlines slamming cryptocurrencies as \u201cworthless.\u201d <\/p>\n<p><em>With Post Wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/23\/jpmorgan-ceo-jamie-dimon-bank-will-outlive-chinas-communist-party\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bank will outlive China\u2019s Communist Party&#8221; JPMorgan CEO Jamie Dimon threw down the gauntlet in a speech Tuesday \u2014 at least as a joke: He said his bank will outlast the Chinese Communist Party. \u201cI made a joke the other day that the Communist Party is celebrating its 100th year \u2014 so is JPMorgan,\u201d Dimon&#8230;<\/p>\n","protected":false},"author":1,"featured_media":371666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/jamie-dimon-jp-morgan-chinese-communist-01.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[120068,71939,4973,70791,120165,70792,70360],"class_list":["post-371665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-23-21","tag-banks","tag-china","tag-jamie-dimon","tag-jpm","tag-jpmorgan-chase","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=371665"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/371666"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=371665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=371665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=371665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}