TheStreet’s Jim Cramer answers a Twitter question on whether China can do anything to stem the market’s downturn. Cramer said the answer is ‘no.’ Why is Cramer so sure? Well, he said the ‘Chinese government is in disarray.’ Cramer said that, ‘one of the things we’ve seen over and over again is that they’ve made a series of policy mistakes which reveals them as no longer being invincible.’ Cramer believes the current government can’t figure out how to keep growth at 7-percent a year. ‘There had always been a belief that they’d be able to pull levers, whether they be monetary through the People’s Bank of China (PBOC) or financial by injecting liquidity into the markets.’ Cramer said the notion that the government had more tools at its disposal are now ‘proving to be a fiction.’ TheStreet’s Ruben Ramirez has details from the NYSE.
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