When assessing China’s economy, TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is focused on the consumer, not the industrials. ‘The industrials are pumping out way too much, because they are state owned zombie companies,’ Cramer said. ‘On the conference call, we heard Nike had extraordinary growth in China and we heard that Carnival Cruise had extraordinary growth.’ Cramer also said the growth from Nike and Carnival makes him wonder if perhaps Apple’s China sales aren’t that bad. ‘The Chinese consumer is clearly alive and well according to Nike,’ Cramer said.
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