Tuesday, September 22, 2015

China Manufacturing Just Responding to Global Economy

Appearing on CNBC, Dick Kovacevich said a slowdown in China manufacturing is just a response to global economic trends.

"Until they have their domestic economy more dominant, they're simply reacting to the worldwide economy," he told CNBC's "Squawk Box," referring to the country's effort to transition to a consumer-led economy rather than one fueled by exports and investment.

"Everyone says China is slowing. No, the world's economy is slowing."

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