In this China Center members-only QuickNote, David Hoffman writes: The imperative for China to transition its growth model is becoming increasingly urgent. The possibility of economic over-slowing or disruption during the economic transition process is significant. This possibility is amplified by uncertainties regarding policy direction and effectiveness during the upcoming leadership succession. The likelihood of over-reaction by global financial markets to economic turbulence in China is also high. MNCs should expect and prepare for this eventuality, objectively appraise the impact of market reactions, and gear up to exploit the opportunities that transitional downturns often present for MNCs that are focused, steadfast and farsighted.