You can stick a fork in the U.S. economy. It’s done. Hope for an abbreviated European slowdown has also evaporated. So now the world turns its desperate eyes towards the developing world. And it ain’t looking good there either.

As China’s stock markets take a nose dive, the government has embarked on a plan prop up the underpinning of its share-buying public.

Beijing is now focusing on helping homeowners buy and keep their properties in the face a global real-estate meltdown.

Whether or not this is enough to sustain some kind of rally on the Hang Seng Index (HSI:HKG), which has dropped 51.4% over the past 52 weeks, is truly doubtful.

Beijing’s maneuver comes at a time when Asian stocks slumped to their lowest since December 2004 on fears that government bailouts may not be enough to prevent a worldwide recession. And with China’s reliance on exports to the West, concerns run deep on the country’s ability to sustain its blistering rate of…

China’s economy is slowing. But the country is still investing heavily in the future says Irwin Greenstein. He says the post-Olympic malaise will soon be replaced with massive construction and infrastructure projects that will last decades. Irwin thinks these are the trends that long-term investors cannot afford to ignore.

China’s red-hot economy is officially slowing. Latest data put annual GDP growth at 9.0% in Q3, down from 10.1% in the previous quarter. Most analysts expect further economic easing and accelerated capital flight in Q4. But Jason Simpkins says a correction will actually benefit the Chinese economy, which had been running the risk of overheating. And ’slower’ growth of around 8% next year will still be the envy of the developed world.

Even the world’s fastest growing large economy is spooked by the global downturn.

China is all the rage for the next few weeks as the Olympics are going on. Many are calling this China’s time to showcase itself to the world. I have a lot of friends and analysts who are big China bulls, believing that the next few years will see continued high growth in China, although less than the above 10% of the past few years.

Editor’s Note: Wayne Mulligan, founder and CEO of TickerHound.com is traveling in China. Writing for Penny Sleuth, he says that the housing market boom has reached its limits for now. More losses are likely in the near future, making shorting a good option for investors…