why doesn't Tim Cook just say China is strong? It made Apple rally the last time so I don't see why it shouldn't work again.
US was concerned about Greece because it's part of the EU and represented a potential unwinding of the euro monetary union. You may or may not agree that this was possible, but it was the reason for concern in the U.S., not any linkage between the U.S. and Greek economies. It's apples and oranges to China!
I wish I can find that segment...if he actually said that I totally agree with what you said ..I agree that that's probably the most foolish thing to say...you have to be a complete idiot to believe for a second that our markets...our economy...our world economy would not be effected by China...I have said a thousand million times before that once China is done the world is done....China is the world. Don't believe for a second that a slowdown in China wouldn't hurt the US economy. It would have a huge great negative on US growth if China would fall into a deep recession. How he doesn't understand that is beyond me...I don't think he should be on that show if he thinks China's problems are their own problems.. China's problems are the world's problems and everyone will notice that soon enough.
Exaclty ...Greece is a spec compared to china and we know what happened when Greece was having their grey days....get ready for something 100x worse when China goes down.
Let's break this down. You make a bunch of stuff and import hardly any stuff. Your economy goes down, it doesn't impact anyone else's exports, because you don't import much. Presumably the stuff you export becomes cheaper, since sinking economies mean fewer jobs and hence less upward wage pressure. So how does China sinking impact the U.S.? You could say China is a big buyer of U.S. Treasuries, so if their economy sinks they stop buying Treasuries, demand goes down so required yield goes up, which is true. However increasing yield on Treasuries hardly equals "the world is done"! You have to methodically think through these things... As I mentioned above, potential unraveling of the euro common currency is a completely different thing given the trade ties between the U.S. and the Eurozone, hence the concern about Greece despite its small economy.