Emerging markets, caught between economic giants, face tough 2025, JPMorgan says
Emerging markets are in for a tough and uncertain year due to policy shifts in the United States and uncertain growth in China, JPMorgan said in its annual outlook, predicting emerging markets bond funds were in line for sizeable outflows. "EM growth faces significant uncertainty in 2025, caught between two giants - China and the U.S. – with policy changes in the latter potentially delivering a large negative supply shock that will have spillovers across EM," JPMorgan said on Tuesday. Looking at emerging markets ex-China, JPMorgan predicted growth to moderate to 3.0% from 3.4%.