CLIFTON, N.J. ( TheStreet) -- It has been a turbulent few weeks for U.S.-listed China stocks. The financial markets were initially spooked by China's decision to enact financial measures that included a temporary restriction of lending in January and an increase in reserves for some banks.

This news, combined with the sharp run-up in China stocks and concerns over debt problems in Portugal, Spain and Greece, gave investors an excuse to lock in profits.

There have also been ramblings by skeptics that China is the midst of a real-estate bubble and that its banks are overextended with risky loans that could lead to a credit meltdown. This is all the more reason for China to be proactive!

It seems a little too early to proclaim China's growth story game, set, and match. It is illogical to paint as a bleak a picture as pundits would have it, asserting that China growth is "fake-fueled" only by stimulus.

I find it amusing that the half-glass-empty camp moans that the Chinese leadership is embarking on goals to slow growth from 10.7% to around a targeted 8% growth. The latter was always the expectation, and now it's not enough?

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