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China Matters, but It Isn't Everything

By Jim Cramer

About this article:
The Empire area might be doing better, but who cares, the Chinese empire's bad! Does anyone else feel like our market's a colony of China? China's in charge, but China's "in-charge-ness" is all about Bucyrus and CSX and Joy Global and Caterpillar and Union Pacific and oil and Freeport and Potash . It's all about the old hedge fund stocks. It is not about the U.S. economy and what it means for factory orders to be up -- although conclusively (as my friend Matt Horween, he of the great series last week in the Opinion section on the flagship site, says) there were and are no jobs being created and the stimulus plan frankly isn't that kind of plan, good grief!). It is not about Procter & Gamble or Pepsi or Johnson & Johnson . It isn't even...

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