Jim Cramer: Don't Be so Negative on China

The Chinese consumer appears to be in better shape than people think and that is positive for companies like Starbucks (SBUX) - Get Report , says TheStreet's Jim Cramer. Cramer offered his relatively upbeat view after hearing from Alibaba (BABA) - Get Report co-founder and Executive Chairman Joe Tsai. Alibaba posted earnings of $0.74 a share, beating estimates of $0.62. Alibaba posted its best revenue growth since before the e-commerce giant's listing in late 2014. Revenue soared 59 percent year-over-year to $4.84 billion, eclipsing estimates of $4.52 billion.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.