China’s economic slowdown, and the potential of a deflationary trap, will clearly have consequences on the global economy – but maybe we are thinking about it in the wrong way. China maybe struggling to balance stock markets, growth, surveillance capitalism, and XI’s authoritarian government, but the long-term goal is a new global economy with China at its core, rather than just cheapest-to-deliver supplier to Western Economies. That will require something of a transition – which is already underway. The potential for China to reinvent itself is still there.