While the Chinese economy is facing a slowdown, its impact cannot be predicted. Some argue the economic downturn is bound to carry effects across the globe, while others think it a mistake to fixate on GDP growth rates alone.

China has better prospects than the US in a long-term trade war.

Despite the pause in the US-China trade war, the US and China are strategic competitors, and will continue to be so for the foreseeable future. China realizes that there is little room to settle long-term disputes and, as a result has shifted towards a strategy that focuses on sustaining growth at any cost, expanding alliances, and advancing its technology.

China must perform a difficult balancing act.

The Chinese economy is still going strong, though some changes are in order.

The writing on the wall for China isn't good. Can the global economy cope with it?

In the era of digitalization, China is leading the world in e-commerce and mobile payment technology while the US is struggling to modernize outdated retail systems.

While excessive freedom for subnational governments can lead to instability, excessive control can choke off the local-level experimentation and competition that has long driven growth in China.

Apple announced last Wednesday that it failed to meet sales expectations in China. This, along with other warning signs, suggests that the Chinese economy is slowing down. And as China acted as one of the main engines of the global post-2008 recovery, this spells trouble for the global economy.

China needs to reduce preferential treatment for state-owned enterprises not involved in national security.