Way forward for new leadership

China will continue to rebound in the short term but its challenges will increase in the medium term. With reforms, though, China's new leadership can build on the country's huge long-term growth potential.

Some observers believe China's growth prospects will decline dramatically, plunging to 4 to 5 percent in the next decade. Others argue that, with economic development, some deceleration is inevitable, but growth would remain around 6 to 8 percent in the coming decade.

So how can China sustain its growth in such a challenging international environment?