Seems like it. Some good charts from the EconomPic Data blog:
China's economy grew at the slowest pace in seven years as the global recession dragged down exports, increasing pressure for more government spending and lower interest rates. Chinese GDP grew 6.8 percent in the fourth quarter from a year earlier.
The 6.8% figure just "happened" to match the median estimate of 12 economists surveyed by Bloomberg News. A look at Chinese exports (as measured in yuan) shows how far things have fallen.
One more that may be a little more "out there"....fairly well respected but the guy, Karl Denninger, does not pull ANY punches on his views of the market. http://market-ticker.denninger.net/
I've never met a retarded person who wasn't smiling.