As you can see here, China's economy continues rip along at the 10+% growth rate as it has for a couple of decades. You'll see quite a tumble (at least in the commodity stocks I'm in), the day you see a China GDP growth number under 10%.
Here's a couple of quotes with comments:
"In the first three quarters of 2007, fixed asset investment in the country soared 25.7 percent to 9.15 trillion yuan, Li said, adding that investment in properties rose 30.3 percent." -- Its those fixed assets that consume our base metals.
"'Consumption is expected to keep growing rapidly, becoming an important factor in pushing economic growth,' Li Xiaochao, spokesman for the National Bureau of Statistics told a press conference in Beijing." -- Having consumption growth drive Chinese economic growth should keep China growing despite a USA slowdown and without sucking the economic growth out of the rest of the world.