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Dave Zhong | Getty Images for CNBC International
Jing Ulrich, General Manager and Vice President of Asia Pacific for J.P. Morgan Chase, speaks at CNBC's East Tech West Conference in Nansha, Guangzhou Province.
Trade tensions between China and the United States add to these concerns. The two countries announced identical tariffs for billions of dollars worth of goods while the White House sought to reduce the US trade deficit with China. and change the way foreign companies are treated by Beijing.
Ulrich said she hoped that US President Donald Trump and Chinese President Xi Jinping would set the stage for negotiations at their meeting this weekend at the G20 summit.
"A kind of temporary truce will be very useful in the highly volatile financial markets," Ulrich said.
The S & P 500 ended last week in correction territory, more than 10% of its record level. The index is slightly up on Monday but remains little changed for the year. The Shanghai composite is among the worst performers in the world this year and has fallen into a bear market, more than 20% from a recent high in June.
"Capital markets have already taken into account the slowdown in growth coming in 2019," said Ulrich. "But in the medium and long term, China's technology sector will continue to grow despite trade tensions."
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