A flippant reference to pigs in an inflation analysis by UBS Group AG's glo...
BEIJING - A flippant reference to pigs in an inflation analysis by UBS Group AG’s global chief economist has caused a furor in China, with some in the financial community rejecting UBS’s apology and calling for a boycott.
“Does it matter? It matters if you are a Chinese pig. It matters if you like eating pork in China,” he said in the podcast on Wednesday, the transcript of which was posted on UBS’s official website and later taken down. “We apologise unreservedly for any misunderstanding caused by these innocently intended comments by Paul Donovan,” UBS said in a statement emailed to Reuters.
African swine fever, a disease deadly to pigs, is ravaging herds across Asia. China has reported more than 120 outbreaks since it was first detected in the country in August.Some people interpreted his comment as a reference to people, not livestock, and questioned the bank’s sincerity. Some threatened to boycott it.
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