While concerns about slowing growth in China contributed to the recent market selloff, the United States government is doing the right thing by not getting publicly involved in what is an internal issue in China, former U.S. diplomat Bob Hormats said Wednesday.
"The Chinese are going to sort this out. American advice is not welcome and probably would be resisted if we were too vocal about it anyway," the former undersecretary of state for economic growth under President Barack Obama said in an interview with CNBC's "Closing Bell."
However, that doesn't mean there doesn't need to be a dialogue between the two countries, he added.
Poor Chinese manufacturing numbers helped send U.S. stocks tumbling Tuesday in their worst start to a September in 13 years. However, they rebounded Wednesday, closing sharply higher.
Meanwhile, China's market has been in turmoil and is down significantly from its record highs. The government has attempted various interventions to stem the free fall and is reportedly cracking down on those who aren't cooperating with its plan to support equity prices.