I was hoping the author would provide further elaboration on why he thinks China's economy is doing ok when I read the title. However, there does not seem to be much substantiation for why he thinks China is doing ok. It would be ironic if he had based it on China's release of GDP growth figures.

"For all the frenzy, the economy is still growing, if somewhat sluggishly by Chinese standards, and most ordinary citizens are not invested in the market. What's at stake is the government's credibility."