Great conversation! A few niggles:

1. China's economy isn't slowing down, it's speeding up. Its rate of acceleration is around 7% and will continue in the range for at least another decade.

2. China's economy is growing faster than ever. A decade ago, in the good ol' days of frantic 10% acceleration, it added $500 billion to GDP. Last year it added $1 trillion (PPP) and will become the first $20 trillion economy on earth by the end of this year.

3. China's economy is not – and never was – 'export led'. It has always been a domestically-led economy. Germany is an example of an export-led economy, with 44% of its GDP exported. China exports less than half that.

4. A few data points on China's domestic, services-led economy might help put this in perspective:

– Personal consumption in China has been growing around 10 percent per year for more than a decade, the highest rate in the world by far, multiple times faster than developed countries and twice the rate of other middle-income economies. http://thediplomat.com/2015/09/is-the-china-growth-model-dead/.

– Yunnan Province 2015 Report gives an provincial-level view of inland growth: http://www.gokunming.com/en/blog/item/3665/yunnan_chasing_beijing_gdp_targets

– In the year to November 2015 China imported 8.9% more oil, year on year, to 6.6 million barrels a day to become the world’s largest oil importer. http://www.platts.com/latest-news/oil/singapore/chinas-oct-crude-oil-imports-rise-94-on-year-26271128

– China’s smartphone market saw record 2015 sales of 460.5 million units. Apple's sales rose 90%.