New normal means that it's business as normal

Recently a few overseas China watchers have predicted, once again, China's imminent collapse. And again, one can only predict there will be something when there isn't. As with the stock market, where there will always be a danger to match one's call with the reality, predicting a country's collapse, or a regime's downfall, is, by nature, a risky game.

I have worked in private sector businesses dealing with China for more than a few years, and have as much experience watching Chinese economics and politics, and would like to offer a personal view on the current debate.

There are things in China that constantly bug me, and many things that I really hate. But as for the overall state of its economy, I would say it's still a long way from grinding to a halt, much less a collapse.