China's slowdown is troubling U.S. companies that have enjoyed strong exports to that giant economy. Caterpillar (CAT) missed earnings estimates partly because of China. 3M (MMM) warned of a sales slowdown related to weak China business. Apple (AAPL) and NVIDIA (NVDA) warned about consumer sales being weaker than expected in China, and automakers see slower car sales in the country.
But the China slowdown is pretty minor, with GDP still growing at a good pace, albeit slower than in past years. Retail sales in China are still quite strong, up 8.5% over the last 12