Economic Research August 2025 China: Structural Imbalances vs. Growth Slowdown Tingting GeAC Greater China Economic Research +852 2800 0143 tingting.ge@jpmorgan.com JPMorgan Chase Bank N.A., Hong Kong Tongfang Yuan Greater China Economic Research +852 2800 0085 tongfang.yuan@jpmorgan.com JPMorgan Chase Bank N.A., Hong Kong See the end pages of this presentation for analyst certification and important disclosures. ts.com {[{xTcfaSlj-ZSQMv-ljRpIMwGzXxb6rqz1dzQrtLRxb3ITGBRgIjYwRw}]} Global macro backdrop US av ...