They warned that the centrally planned, export-dependent economy, could not sustain itself year after year.
But through multiple crises, China has motored along, lifting hundreds of millions of people out of poverty in the process.
But things appear to be different this time. Corporate profits are tanking, and the Shanghai Composite is at the same levels it was during the depths of the 2008-2009 crash. A hard landing has hit the corporate sector.
And many are questioning whether policymakers are really in control of the slowdown this time, or if the economy is in fact heading for a hard landing i.e. four straight quarters of below five percent growth.
Chinese leaders are on notice.