Sure China is a big influence on the market, but is it so big that it could take down the US?
That's a question currently being kicked around by almost every pro on Wall Street, Jim Cramer included.
Talk of a hard landing has escalated in recent days, after new data showed that China's factory activity weakened to a nine-month low in June, heightening the risk of a sharper second quarter slowdown.
And there are a growing number of reports which suggest China is facing a credit bubble that's 'unlike anything in modern history.'
If China really stumbles, which American companies are likely to get dinged? Cramer investigated. Following are some of the more likely casualties
As you might expect, the industrial sector appears vulnerable. "Caterpillar benefited substantially from China's orders for earth movers and excavators," Cramer said. "And Cummins has a significant presence in China. A problem could be devastating for either of these two firms." Also Cramer said declining demand from China could ripple across United Technologies, Boeing and General Electric – that is, they also rely on orders from China.