US imports from China are down this year, and direct investment in China is a sliver of the US GDP.
However, William Lee, the Milken Institute's chief economist, told Insider China's economic stumble might not be all bad for the US.
Meanwhile, Chinese imports of US goods, which may continue to slow, amounted to less than 1% of the US GDP, suggesting a reduction in Chinese imports wouldn't drastically harm the US economy.
In addition, China's slowing economy has already chipped away at some American companies' revenues, including DuPont's and Danaher's.
AdvertisementAdvertisementThough China's economy has been plagued by a number of crises, including low consumer confidence, many Americans may not have to worry about the downturn hurting their wallets.
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