JP Morgan, among other major institutional investors, are increasingly anxious about the state of China’s economy and financial markets. The main concern: a major developer, Country Garden Holdings, is dangerously close to defaulting, while loans from Chinese banks reached their lowest point since 2009 last month.
![JPMorgan Chase & Co. building in Central Hong Kong, regarded as one of the biggest and most trusted financial companies in the world. Photo: Shutterstock](https://krugmaninsights.com/wp-content/uploads/2023/08/ee85557909-1024x682.jpg)