Seeing some serious headwinds ahead, Caterpillar (NYSE:CAT) is warning that it doesn't expect Chinese demand for excavators to return to the highs hit several years ago. "That shows how far off the peak we are," Caterpillar's Tom Pellette told the FT. "For China specifically, our expectation is that the market will rebound but we are not planning [for it to] get back to 2011/2012 levels." The remarks are significant as the group is often dubbed a global bellwether, with its sales giving investors insights into the state of economies worldwide.