Ravi Ramamurti, director of the Center for Emerging Markets at Northeastern University, believes talk about the death of China as an export powerhouse is “vastly exaggerated.”

While China has become less competitive in low-end manufacturing, it is still one of the best the places for multi-component products, such as Apple Inc.’s (Nasdaq: AAPL) iPhones, Ramamurti explained.

Victoria Lai, China analyst at the Economist Intelligence Unit (EIU), echoed Ramamurti’s view: “China is still a big manufacturing powerhouse, it’s just what it’s making, who it’s selling to, [that] will change.”