Man’s hope! Yes, it’s the ‘miracle economy’. China, that is. Many analysts think it has ‘de-coupled’ from the rest of the world economy. While the rest of the world sinks into the ‘worst recession since the ‘30s,’ it is said to be growing at 8% per year. Go figure.

Last August, in an exclusive article to Oxford Club members, I badmouthed decoupling – the theory that the rest of the world (particularly emerging economies) could somehow party on while the U.S economy endured a recession.

Here´s a note about a compelling stock story from legendary newsletter writer Richard Russell.

New labor laws in China have forced the manufacturing sector into an ever-tightening vice, giving investors further pause for any significant rebound in the world’s fastest growing economy.

Investors interested in putting their money into China next year may want to look elsewhere for potential gains. It seems that 2009 will be a repeat of 2008, according to a story in today’s People’s Daily.

While China may blame the rest of the world for its dramatic decline in exports, Beijing has no one else to blame but itself for the steep drop in dairy exports.

While China made headlines with a historic interest rate cut this week, the World Bank weighed in with a gloomy prediction about China that received scant coverage. For emerging-market investors who missed the story, the World Bank’s assessment of China’s economic performance in 2009 could reshape their strategy for portfolio allocation.

Global markets are soaring today on renewed bailout efforts. But Irwin Greenstein says its probably not a good idea to jump back in to these emerging markets just yet. As always, China will be the bellwether for a sustainable recovery. And commodity prices will remain crucial for resource-rich nations.

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…