JPMorgan Chase & Co. (NYSE:JPM) said in a note to clients Friday that they see China's GDP growth falling on the near-term “loss of momentum." That includes globally and in the U.S.
The banker sees this being the case through the rest of 2010 and until at least the end of 2011.
Their previous estimate of 10 percent has been downwardly revised to 9.8 percent for 2010, and as low as 8.6 percent, down from 8.8 percent, for 2011.
Much of this is in relationship to their battling the urban property markets which are in danger of becoming a bubble.
Companies providing materials in those areas could have their numbers impacted over the next year-and-a-half if these estimates hold up, or become even worst than expected.
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