China buffeted by global slowdown

China has reached a transitional period in its development. Naturally, flaws in its economic structure are starting to emerge. But internal problems are not the only cause behind its recent economic slowdown. External factors are weighing on growth as well.

From 2010 to 2013, China's GDP growth pace decelerated from 10.4 percent to 7.7 percent. Other emerging-market nations, like India and Brazil, saw growth slow even more dramatically over the same period. Meanwhile, even regional powerhouses like South Korea and Singapore showed signs of malaise.

With so many countries losing steam, this implies the existence of some shared external cause. It seems that fallout from the global financial crisis has not dissipated for many countries.

But China has weathered the storm better than most, crushing theories that a shaky internal structure is to blame for dampening local growth.

In fact, Europe, the US and Japan are in much greater need of structural adjustments. As of yet though, the world's rich nations have yet to pull themselves out of the doldrums.