One of the major challenges for China’s leadership lies in enacting the rule of law by borrowing from Western principles while preserving China’s self-identity embodied in part in the Confucian ideology of the rule of virtue.

Many of today's most successful Chinese entrepreneurs such as Alibaba, Xiaomi, and Tencent know that they are riding and contributing to a historic wave of economic activity. These Chinese entrepreneurs have thrived, in part, because they created companies able to change as China changed.

China is developing quickly both in terms of economy and military, and that is a natural process. Most major powers travelled the same way in the past, and a strong China helps preserve peace and stability in the world.

Many China watchers believe that the ties between Beijing and Washington are at their lowest level since Tian’anment. President Xi can nevertheless reassure the American political establishment that he is leading China in the right direction, and not trying to turn it into another version of the former Soviet Union.

Moderating growth rates in the range of 5-7% per annum reflect the higher per capita income level and the changing growth paradigm in China. A modest slowdown is a necessary and healthy adjustment for China to transition to a new trajectory of more efficient and sustainable growth. But instead of greeting such a positive "new normal" with enthusiasm, the naysayers have reacted with dismay as though they would rather prefer the old growth model.

Some scholars say the much-talked-about New Model of Major-Country Relationship is being discarded before it even gets off the drawing board. But at the upcoming Xi-Obama meeting, common interests will stimulate common values, and strengthen the willingness to sail in the same ship.

The Sino-American ‘Grand Consensus’ that has benefited both for more than three decades is threatened by new realities and interests in the wake of China’s rise. Both countries must seek effective cooperation, not only to realize mutual benefits, but to jointly play a leadership role for the maintenance and reform of the current international system.

The China wave will continue to roll across the globe crashing on far away shores as the 21st century unfolds. Individuals, states, and nations can do nothing and be swamped or learn to surf and ride the wave.

Whether the world’s nations can adjust to changes and to work with instead of working against the new arrivals on the world stage is going to be a major test. China has chosen to integrate itself into the international order, and has greatly benefited from being part of it, so China should be seen as a partner, not a competitor.