A chief economist at UBS Global Wealth Management and the bank have apologised after making reference to a “Chinese pig”, which sparked online criticism.
Donovan had attributed higher Chinese consumer prices to “sick pigs”. He dismissed the global importance of the price inflation, saying “does this matter? It matters if you are a Chinese pig. It matters if you like eating pork in China. It does not really matter to the rest of the world”. The bank subsequently removed the statements from circulation.
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