A Chinese investor takes a nap in a brokerage house in Beijing, Friday, July 10, 2015. (AP Photo/Mark Schiefelbein)
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Few parts of the world will remain unscathed by the plunging stock markets and economic slowdown rocking China, but the companies of Europe's soft underbelly may weather it best.China's factory activity shrank in July at the fastest rate in two years, the country's stock markets have slumped 30 percent since mid-June and growth could soon fall below 7 percent for the first time since 2009 .Around 8 percent of Germany's exports go to China and about 5 percent of both France and Finland's, according to Marc Chandler, head of global currency strategy at Brown Brothers Harriman in New York.Compare that with the periphery: 3 percent of Italy's overseas sales go to China, around 2.5 percent of Spain and Ireland's, and only 2 percent of Portugal's.Of the top 37 European companies' exposed to China in a list drawn up by UBS, only 16 are from the eurozone. It is near the bottom, with only 10 percent of revenues from China.
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