If you lift the front wheel, and spin it, does it wobble? If a loose bearing causes the wheel to wobble, the brake won't work properly. See reply #6 at the following thread.
http://wildguzzi.com/forum/index.php?topic=54908.0
Since your bike has a carburetor, you will need to adjust the jets and pilot mixture screw to tune the fuel mixture.
Once again, I caution you not to ride the bike very much until you get the front wheel fixed. Riding in heavy urban traffic is especially dangerous.
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Spud
"Never argue with an idiot. He will drag you down to his level, and beat you with experience."
Mark Twain
2015 Zongshen ZS250GY-3 (RX3)
2006 Zongshen ZS200GY-2 (Sierra 200)
2005 Honda XR650L
2004 Honda CRF250X
1998 Kawasaki KDX220
Mods made to my Zongshen ZS200GY-2:
http://www.chinariders.net/showthread.php?t=6894