Deepening reforms the remedy not the ailment

Premier Li Keqiang sent a clear message at the Davos Summit in Dalian, Northeast China, that the country will not blink in the face of daunting economic challenges.

At a time when the world economy is bracing for the slowest growth since the 2008 global financial crisis, it is reasonable for the international community to be paying close attention to China's economic slowdown since it could have consequences both at home and abroad.

Indeed, at first glance the country's GDP and foreign exchange reserves data appear disappointing. And if any of them heralds a trend instead of just being a one-time adjustment, Chinese policymakers will have more problems than they expected.