Cramer either ate something or just plain went bonkers. On today's show he declared that China is the main driving force of the world economy.
I have two main objections:
1. Chinese economy is export driven, US being the biggest importer. Whatever Chinese produce, where are they going to sell it?
2. Chinese stimulus is actually an unprecedented pumping of money into unneeded real estate and industrial projects . Idle steel production capacity exceeding full capacity of Japan and South Korea combined, new build empty city (for a million people!), biggest mall in the world with 99% vacancy, what other proofs you need? Chinese economy is in a bubble, huge bubble even comparing to US real estate. When that one bursts, nobody would be happy.