Global community watches how China handles economy

All eyes will be on China for the next two weeks. As in the past, there are great expectations about the deliberations and discussions at the two sessions, especially on how China plans to deal with emerging risks and strike a balance between reform and growth.

On a more personal note, the two sessions also mark nearly a decade of my ongoing association with China, a journey that began just after the Beijing Olympics in 2008. It is clear that the two sessions will provide the scope, authority and oversight to the incoming administration to usher in a wide range of reforms and deal with emerging risks within the global trading system.

Most economists believe that although China has been quite successful with its deleveraging efforts in the past few years, the easy part is nearing an end.