A comment was made consistently throughout the evening the China is a leader in certain areas and lags far behind in others. For example, the wireless infrastructure and connectivity of the Chinese is in many ways superior to that in the United States. Companies are springing up around China, particularly in Shenzhen, designed to cater to the Chinese preference to live a connected life. One only needs to explore the myriad of applications and services available within the WeChat application to recognize that Chinese entrepreneurs are focused on capturing the growing opportunity in the wireless space.
On the other hand, the distribution of goods and services through brick-and-mortar stores trails other countries in a significant way. What consumers take for granted in the United States is that there are locations providing a wide variety of choices where consumers can make judgments between products based on quality and pricing. The lack of a more robust brick-and-mortar presence for stores within the Chinese landscape is an indication of the challenges companies have in providing products to consumers in a traditional retail environment. This problem is not improving and, in fact, there is evidence to suggest that retail is increasingly becoming an online exercise for the Chinese consumer with many brick-and-mortar offerings drying up on a local basis.
Read MoreIs the bull market back? Not so fast: Insana
I remain convinced that China will turn the corner. This week's discussions confirmed our views for the long-term. But this week's discussions also confirmed to me the China equity markets are not for the meek. It is entirely possible that China's equity markets could fall further and would need to if one was to buy based on value.
Commentary by Michael A. Yoshikami, the CEO and founder of Destination Wealth Management in Walnut Creek, California.