After a huge drop in the past couple of weeks, Shanghai stocks rose Friday for the second day in a row.
For many, that's a relief. But China's economy has a long way to go. In fact, it's in the midst of wrenching transition from an economy based on investment and manufacturing to a higher-income one built on services and consumer spending.
The stakes are high — not just for China, but for the rest of the world.
Economic growth is slowing in China in a way it hasn't in a long time.