Cutout of Joe Biden and Xi Jingping facing each other with a ripped split down the middle.
  • JPMorgan found that investors are looking to cut risk in China more than any other market.
  • Beijing and Washington remain on shaky ground and could be stuck in a "no landing zone."
  • JPMorgan added that guardrails are needed "as the risks of catastrophic miscalculations are rising."

Given the uncertain geopolitics between Washington and Beijing, investors are looking to cut their risk exposure in China more than anywhere else right now, according to JPMorgan. 

In a Wednesday note, the bank's strategists said the lack of communication between top leadership in the US and China heightens the chance of conflict, and relations between the two nations could be stuck in a "no landing zone."