China's economic growth slows - Annalyn Censky

http://money.cnn.com/2012/01/16/news/economy/china_gdp_growth/

Though the U.S. economy is still the largest in the world, it grew at a mere 1.8% in the third quarter (fourth quarter figures haven't been released yet).
China, the world's second largest economy, has grown at an average annual rate of about 10% for the last 30 years.

Housing prices have been battered in China, but it wasn't widespread enough to dent the economy. Demographic problems in the next 20 years and rising expectations of the middle class are bigger worries. There is also the problem that the eventual Chinese middle class may not add as much as they would to the Chinese economy as their tastes will run to quantity, not price. And no one in the world buys anything because of the "made in China" quality, not even the Chinese.