Caterpillar CEO: Realignment of China economy to affect sales

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

China's strategy to shift from an investment-led to a consumption-based economy will have an impact Caterpillar's (CAT) sales, CEO Douglas Oberhelman says.

However, the government's urbanization drive could continue to support demand for Caterpillar's construction equipment.

While China's economy is slowing down and there are fears about soaring debt, Oberhelman is more concerned about the speed of reform, meaning the "opening of the capital market, (and) moving to a market orientation to really propel the economy into the next phase."