China’s economy will continue to slide for some time in 2016, and the overall growth rate will be even lower than in 2015. However, the economy’s fundamental sectors portend a steady growth rate of 6.5-6.8%, depending on the progress of the reforms and restructuring, and on the developments of world economic situation. In any event, a major slump or “hard landing” seems out of the question.

The fears about the economic meltdown in China are overblown. The mismatch between progress in economic rebalancing and setbacks in financial reforms must ultimately be resolved as China transitions to new growth model. But it does not spell imminent crisis.

Stabilizing the RMB exchange rate not only requires comprehensively striking back the short-selling speculation but, more importantly, reversing the expectation of RMB depreciation and well managing the expectation. Substituting a new exchange rate index for the old exchange rate index has not impressed the international market. The RMB exchange rate should be anchored to the USD exchange rate to build confidence.

Except for the disruptive years of the “cultural revolution”, the five-year planning system has given the country a unified strategic outlook, especially in the recent years of opening up and development. The current CPC Central Committee is steering the Chinese government, in the coming five years, to emphasize people’s livelihood and well-being, and to effectively promote economic transformation and consolidation.

When it comes to economic rebalancing, China will need to be patient, recognizing that the current generation is simply too fixated on saving to provide the kind of surge in consumption that is needed. There are steps policymakers can take to accelerate progress, but, until the next generation grows up, real progress will have to wait.

China certainly experienced a turbulent summer, owing to three factors: economic weakness, financial panic, and the policy response to these problems. But none on its own would have threatened the world economy. The assumption that China is now the global economy’s weakest link is highly suspect.

China's exports fell less than expected in September, with monthly figures showing recovery, but a sharper fall in imports left economists divided over whether the country's ailing trade sector is showing signs of turning around.

As Xi Jinping heads to the United States he might need to check that he takes his irony meter with him, for there seems little evidence that anyone in the Western media has one they might be willing to lend him.

Thanks to misguided stories about President Xi’s reforms, America risks losing the opportunity to participate appropriately in China’s massive economic rebalancing and reform drive.

China’s stock-market correction was predictable after its wild rise, but it does not signal a sustained economic slump. However, “China shock” did influence the U.S. and European stock markets, despite the effect being psychological and temporary. During the first half of September, U.S. and European markets have been rising steadily, despite the lingering struggles for Chinese stocks. With an expected mild rebound by the end of the year and beyond, it is likely that China’s imports will gradually pick up, thus contributing more to the world commodities demand recovery.