Old habits, it appears, die hard — particularly for authoritarian governments. The continuing restrictions on institutional shareholders of Chinese stocks will continue to stunt the market.
Investors also remain anxious about the government's policy in regard to the currency, which remains pegged to a basket of foreign currencies. "This mini crisis was largely self-made," Mariscal said. "The Chinese authorities have the will to reform, but they're learning as they go.
"The good news is, they can improve," he added. "The bad news is, they haven't yet."
Meanwhile, Miller believes the education process for Chinese policymakers will take years and likely cause a lot more volatility in financial markets.
"There's really no way of avoiding a series of crises in China," he said. "With poor visibility on the economy, people will assume the worst."