CNBC’s Jim Cramer on Thursday told investors he doesn’t think China’s market will collapse despite the country’s recent weaker-than-expected economic figures and trouble with its real estate sector, specifically Country Garden, one of the largest nonstate-owned developers that recently missed two payments on dollar bonds.
“Now we’re hearing that China’s going to drag down the rest of the world, including us,” Cramer said. “But we’ve seen this movie before, and we know how it ends.”
To Cramer, these issues won’t completely bring the Chinese economy down, as he thinks the country’s leadership will eventually remedy these problems. He referenced 2015, when China’s market crashed but was able to recover.
“But I can tell you what’s not gonna happen — China’s not gonna collapse,” he said. “As big as those institutions are — and they’re big — they’re not big enough to bring down the whole darn regime.”
