为什么当嵌套PACKAG.JSON存在时WebPACK无法编译

src/
--ui/
--lib/
----async-store/
------create-inject-reducer-hoc.jsx
------package.json <<=== this package.json
--package.json
--index.js
--webpack.config.js

项目无法生成,出现错误:

ERROR in ./lib/async-store/create-inject-reducer-hoc.jsx
Module build failed (from ../node_modules/babel-loader/lib/index.js):
SyntaxError: \src\lib\async-store\create-inject-reducer-hoc.jsx: Unexpected token (34:11)

  32 |     }, [])
  33 |
> 34 |     return <WrappedComponent {...props} />
     |            ^
  35 |   }
  36 |   return memo(InjectedState)
  37 | }

此处Web包配置

module.exports = {
  mode: 'development',
  context: path.join(__dirname, '../src'),
  entry: './index.js',
  output: {
    filename: 'bundle.js'
  },
  module: {
    rules: [
      {
        test: /\.jsx?$/,
        use: ['babel-loader']
      }
    ]
  },
  resolve: {
    extensions: ['.jsx', '.js']
  },
  plugins: [new HtmlWebpackPlugin()],
  devServer: {
    contentBase: path.join(__dirname, '../dist'),
    compress: true,
    port: 9000
  }
}

{
    "presets": ["@babel/preset-react", "@babel/preset-env"],
    "plugins": [
        ["babel-plugin-styled-components", { "ssr": false }]
    ]
}

行动: lib/async-store/ 项目将成功生成

问题: webpack构建过程和嵌套package.json有什么关系?