China's government is the most responsive, historical, empirical and dialectical. In this sense, it is one of the best forms of governance, which can be empirically verified by the explosive growth and development of the past several decades that the world has never seen before.
Like any other political entity, China is subject to external environment. Hence, it is impossible to avoid crises at times, like the Taiwan Strait Crisis of 1996. As the international environment changes, China needs to adjust its policies. In the same way, economic development is as much subject to external factors as internal.
As you point out, there are risks, unsolved problems as well as unexpected issues. Some problems are due to negative externalities like (now decreasing for five years) income inequality or pollution. Some are due to development and mass migration.
And there are massive reforms going on at the moment in order to enable a better judicial system, fairer taxation, better care of the inland areas etc. In fact, no other nation has gone through as much dramatic changes as the Chinese society over the past several decades.
Progress takes time. What is important is that China develops at its own pace, and without being lectured and dictated by others. China must uphold a fierce sense of sovereignty. No foreign system must be allowed to be imposed. Everything in China's own way, own speed and own dynamics.