Investing.com -- Analysts at JPMorgan have downgraded their rating of China to"Neutral" from"Overweight" within its coverage of equities in emerging markets and Asia excluding Japan, citing a"challenging outlook."
"Geopolitics will be a relevant risk factor in late 2024, and China equities could see heightened volatility around the upcoming US elections," the analysts wrote. They added the impact of a potential re-escalation in trade tensions between Beijing and Washington may be"more signficant," with tariffs seen increasing from"20% to 60%."
"We expect China’s long-term growth to trend down structurally due to supply chain relocation, the expansion of US-China conflicts, and continued domestic issues," they argued.
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