A recent meeting and paper from IMA Asia came to the conclusion that China’s still growing nicely.
There’s a slump in export demand, it’s true; and the export-oriented sector is not doing that well. But what drives China’s economy is domestic demand, which is growing; and more particularly, domestic investment. China’s economy is investment-led, not consumption-led (as the US is). IMA Asia’s corporate clients in China confirm that their sales have been rising.
Right now, I’d say that China (followed by India) looks like the brightest spot in the global economy.