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Cramer: Take Heed of China's Weakness

We have to stop treating China as a constant that will help us and start thinking of it as a declining economy that can hurt us, Cramer said Friday.

“Take heed of Chinese weakness,” he said. “It’s not going away. It’s accelerating.”

That weakness, the “Mad Money” said, can been seen in the price of copper , which is the best measurement of Chinese growth. It can also be seen in the declining coal, aluminum and steel stocks, Cramer said. Plus names with big exposure to China, like Wynn Resorts ,Tiffany and Coach , are getting hit.

The issue, he thinks, is the foreign demand for Chinese products. He doesn’t see any room to grow demand thanks to the slowdown in the U.S. and in Europe.

At the same time, energy costs haven’t come down much, so it is difficult for the Chinese to stop tightening. Given the price of Brent crude , Cramer is not optimistic that China can tame inflation.

“I think we have to be very concerned right here that China will become top of mind as a weak point in the fourth quarter,” he said.

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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