China's economy has found itself in the eye of the storm, as its prospects for global expansion have reportedly become dim.

As the country's domestic markets continues to experience severe fluctuations, naysayers have been quick to identify possible reasons for this worrisome development: local credit splurge, overcapacity, factory activity contraction, foreign trade dive, and money outflow.

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However, it is worthy to note that although the Chinese economy has been under the microscope for its perceived underperformance, no economic crash has happened, as the nation has continued to pursue its development agenda, albeit at a slower pace.

By and large, critics just can not seem to avoid glossing over China's so-called economic slowdown, as the nation's economy was once considered as the bellwether for global growth.

But all of these negative perceptions will have to be carefully considered, as China's legislature is set to craft a five-year plan for the nation's social and economic development.

The plan will surely get a much-needed boost from the country's top leaders who have remained optimistic that the economic hiccups China is experiencing will soon come to pass.

In his government work report given last Saturday, Premier Li Keqiang described China's economy as flexible and resilient.

Li pointed out that the country has huge foreign exchange reserves, a low budget deficit, and holds huge potential of urbanization.

For his part, China's Finance Minister Lou Jiwei voiced confidence that the country has "enough policy tools and huge space for reform"  to sustain the nation's medium-high expansion and achieve over 6.5 percent growth this year.

To achieve these goals, China must be able to make use of the tools at its disposal to boost its economy and overcome challenges to growth.

This will help overcome the biased view of skeptics who believe that China is not capable of addressing the purported economic malaise which has gripped the nation.

For instance, there were speculations that the anti-corruption drive launched by President Xi Jinping three years ago would undermine economic growth as there was a belief that the secret to doing business in China was implementing "preferential policies."

By carrying out this measure, the Xi government will be able to demonstrate its strong and earnest desire to stamp out corruption in the bureaucracy, clearly define the roles of the market and the government, and sustain the growth of China's economy. 

Tagschina, China economy, Chinese Economy