That pause didn't last long, with demand underpinned by strong economic growth, says Zhou.

FORBES: Revolution by Block

Meanwhile, central bank governor Zhou Xiaochuan says the country should "sacrifice" short-term growth for long-term economic change to rebalance the economy away from a reliance on exports and toward more domestic consumption.

WSJ: Stalling Economy Slams China's Stocks

Meanwhile, central bank Governor Zhou Xiaochuan says the country should "sacrifice" short-term growth for long-term economic reform to rebalance the economy away from a reliance on exports and toward more domestic consumption.

WSJ: Stalling Economy Slams China's Stocks