Wall Street banking giant JPMorgan Chase has told some of its staff to ensure that they do not refer to Hong Kong, Macau or self-governing Taiwan as separate countries.
The bank’s supervisory analyst global manager, Stuart Marston, said in an email seen by Bloomberg that the regions should on first reference be Hong Kong SAR, Macau SAR and Taiwan, China. JP Morgan has also added a note in its disclosures section to clarify usage.
Hong Kong and Macau are special administrative regions (SARs) within China, and Beijing also considers Taiwan part of its territory. Foreign companies doing business in China have been facing increasing pressure amid the country’s trade conflict with the United States and the protests in Hong Kong.
Global brands, including Versace and Givenchy, have been forced to apologize to China for identifying Hong Kong and Macau as separate countries. Millions of social media users across China blamed Western luxury companies for undermining the country’s sovereignty and called for boycotts.
JP Morgan has been actively pushing into China’s $43 trillion financial industry. The company wants to take advantage of the Chinese government’s efforts to open up the sector to foreign competition. The bank is so far the only US firm that has been granted approval to take a majority stake in an onshore Chinese securities joint venture.
JP Morgan CEO Jamie Dimon has vowed to bring “full force” to China as the financial opening progresses. The firm is also considering launching a private bank in China, according to the head of its Asian business.
Large sugar bowl draws many flies.
You mean wasps...
Will Trump order JP Morgan to leave China and to stop all its activities in China?
Not if he owns them money
It might be the opposite way
In communist China the people rule through the communist party and the foreign banks and corporations either obey or they get thrown out of China and hence get wiped out. JP Morgan just learned that lesson and where their place is in communist China.
In the capitalist West the 1%, the bankers, rule and if the 99%, the people, do not obey, they get wiped out.
Communism will win!
When American or pretty much all western countries and businesses, and elite have to choose between money and patriotism or freedom for the enslaved, or anything else, they will always choose money. Patriotism, flags, "our moral values" are for plebs and slaves.
Nationalism = ideology based on the premise that the individual’s loyalty and devotion to the nation-state surpass other individual or group interests.
Patriotism = devoted love, support, and defense of one's country; national loyalty.
JP Morgan wanting to open a bank in China to launder their cocaine money?
JP Morgan demonstrates the courage of Donald Trump, the ethics of Hillary Clinton, the integrity of Barack Obama, the geopolitical awareness of Tomi Lahren and the intelligence of Rachel Maddow with this one call.
JP Morgan makes it clear they do not believe in self-determination...
I do believe they made it crystal clear over a century ago already. It's still immoral but it isn't a suprise.
JP Morgan makes it clear that they back a foreign government against the U S government because they are more invested in China than their own country.
JP Morgan knows very well that the rotten US Empire is in its terminal stage of collapse. One could say that the rats are leaving the sinking ship, but they are rather the captain and officers of the sinking ship, while the rats will go down with it.
you will eat each other eventually as well just wait.
they are very smart parasites who know with anticipation when the tide will go wild
I dont agree! This is a nuetral position. There are no taking sides. All things are not in Black and White. Its more complexed.
China in a short time eradicated poverty, unemployment and hunger. US has 1/6 of the population on food stamps, endless number of homeless and thousands of "soldiers" in military bases paid by the occupied by US countries.
Quick goggle: "In 2017, China lifted 12.89 million rural people from poverty which put the poverty rate at 3.1 percent compared to its 4.5 percent the previous year. Around 500 million people, or 40 percent of the population within China, survive on $5.50 per day or less." That's hardly poverty "eradicated". Nonetheless, the poverty rate of the US is 13.5%, which is no surprise at all, given that in America people aren't poor but just "temporarily embarrassed millionaires".
It is doubtful there are many employed at JP Morgan Chase who are products of the public education system, only graduates from top tier schools. If these people are so uninformed and uneducated by the best schools in the US the country is hopeless.
Permit me to issue and control the money of a nation, and I care not who makes its laws!
China should let their own home grown banks to thrive rather than putting the country's financial sector into the hands of JPM that is well known throughout the world for 2big2fail crimes and gross misconducts.
That's what international companies are. It's unpredictable when they're going to be on whose side. International companies don't have any loyalty to any country, only care about their own interests...
Means nothing has zero affect what JPM have to say and wish, the ball is now rolling in regards to China Vs HK period
这也意味着，没有任何东西会影响到摩根大通的言行了，现在中国大陆 vs 香港特区的比赛已经开始了。
Quite so .. It is not communist but China would like to make it so.
It must be true, JP Morgan said so....
Not JP Morgan said so, but the China said so, hence it is true. JP Morgan has just learned that in communist China, the people rule, not the bankers. In the capitalist dictatorships of the West the bankers rule and the people are just wage/debt slaves.
Forget what I said in your post, you already know what is up. :) Shine China, let the dragon rise again <3
but Taiwan is the Republic of China, but not the People´s Republic of China. So there are two different political entities.
All US companies doing extensive business with China always tell their employees to state this publically for obvious reasons. When polling US businesses only about 10% of them actually believe it though. It's just pandering for the sake of business.
China, I guess is too big a market to lose, by insulting them.
JP Morgan is just protecting its own interests by telling the truth for once. They must be heavily invested in China.
I guess it's good that no one cares what JP Morgan thinks.
where is the Hashtag #boycottJPmorganchase
What a nice statement in order to waive US magnificent DEBT with China !!
JP Morgan, Collaboratia
T. Agee Kaye
The money is too good, and selling out the people is what Big Banks are all about.
Amusing to witness west's mega businesses / corporations falling in line to CHINA. can feel the taste of the "market".
Okay, but in order for that to happen, JP Morgan has to convince the United States as well.
He remembers 2008 very well and knows which side his bread is buttered
I was hoping China would kick the JP Morgan leeches out of their country like Russia did to the Rothschilds. As corporations in the West continue to default on health care, retirement pensions and labor relations, the natural course will be the people turning to the government for solutions. That will be the beginning of the transition from “democracy” to socialism in the West.
usa is a sinking ship like the Titanic on course to its destruction, dwelling on debt, lies, (lost) wars and teethless bullying in order to desperately try to convince the rest of the planet they are still the leader of the herd financially, economically and military. China has all the aces and if the rest of the western world keeps holding on that sinking ship and not jump into the lifeboats of China they will drown with it.