In terms of #China, what you've laid out above is pretty much the exact framing which has been presented throughout the traditional media.   A better way to put what is going on is as follows.

China is aggressively attempting to fundamentally restructure its economy away from debt fueled growth in favor of higher value added manufacturing such as robotics and the like. 

There's no guarantee that the conversation process will work, but it is a priority of the government to move quickly away from growth driven by either property or investment into infrastructure.  

How this would then impact the various global economies is unclear.  China is only thinking about China.   It is, in my opinion, the burden of other countries to recognize how it is China is evolving and adapt.  So far, I've yet to see any country do this.   

I hope that this helps.