Many investors pin the U.S. market's latest declines on a slowdown in growth in China, but one global economist says that's a mistake.
If China really was to blame, those economic ripples would have hit the eurozone and the Japanese economy much harder, said Torsten Slok, chief international economist at Deutsche Bank. He notes that both those countries have a stronger trade link with China than the U.S. does.
"We have seen that the manufacturing sectors, both in Europe and in Japan do much better than the manufacturing sector in the U.S.," he said, speaking to CNBC's "Closing Bell" on Friday. "It really is the dollar that's the main reason why the U.S. economy is slowing."