The Olympics are over, there is turmoil in western markets, the miracle didn't last.
In the long run, maybe for the good, at least for the west.
The Chinese demand for raw materials were skewing markets as was the need to put Asian savings to work ... one of the many triggers of the credit market blow up (too much savings looking for places to invest).
Chinese Economy Is Showing Signs of a Slowdown - NYTimes.com:
"SHANGHAI — Each new forecast of China’s economic fortunes predicts slower growth than the forecast that preceded it.
Christmas orders were down 20 percent this year, as big retailers and toy marketers grew gloomy about the holiday season.
Just as China attained supercharged growth that astounded much of the world, it appears to be slowing more sharply and more quickly than anyone anticipated."
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