- CNBC’s Jim Cramer told investors Thursday that he doesn’t think China’s economic crisis will collapse the market.
- “Now we hear that China is trying to drag the rest of the world down, including us,” Kramer said. “But we’ve seen this movie before and we know the ending.”
CNBC’s Jim Cramer said Thursday despite disappointing recent economic data in China and problems in the real estate sector, particularly Country Garden, one of the largest non-state-owned developers to recently fail. He told investors he did not believe the Chinese market would collapse. Two payments on dollar bonds.
“Now we hear that China is trying to drag the rest of the world down, including us,” Kramer said. “But we’ve seen this movie before and we know the ending.”
For Kramer, these problems won’t depress China’s economy outright, and he believes the country’s leaders will eventually solve them. He referred to 2015, when the Chinese market crashed but was able to recover.
“But I can tell you what will not happen. China will not collapse,” he said. “However big those institutions are, and they are big, they are not big enough to bring down this whole damned regime.”