CNBC's Jim Cramer said investors should not invest in American companies based solely on their business in China.
"Go ahead, knock yourself out imagining how China exposure can boost the growth of American companies," Cramer said. "But I think you'd be better off finding a Chinese company that can accelerate its growth by being in America, because we're in much better shape than they are right now."on Monday advised investors to think less about how China affects American stocks.
"No matter how disappointing the growth numbers we see out of the Chinese economy — and they are plenty disappointing — people keep wanting to buy American stocks that are seen as having major Chinese exposure," Cramer said. "American investors simply won't give up: They just have to have something that stands inside the thesis that China remains the promised land for anyone nimble enough to sell into their economy, even as their economy is falling apart.", which he said is a "terrific story," but not a "China story." Caterpillar is more affected by factors like the U.S. oil, infrastructure, and data center markets, as well as global mineral markets, he said.
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