A tapering off and rebalancing of China's economy will have benefits for the US as well as ensuring domestic stability

Concerns about the outlook for the Chinese economy have mounted, particularly given the apparent tolerance of China to slowing growth. Some US media and Wall Street institutions deem the Chinese economy's slowdown as a "black swan" event. But objectively speaking, the overreaction to China's slowdown and the growing pessimistic opinions are partly due to Wall Street's speculation and partly due to the lack of a clear understanding of China's economy.

The world economy is still in recovery. Influenced by the decline of external demand and domestic economic adjustment, China's slowdown is understandable and predictable. It is not a black swan event.