Some worrying news coming out of China.

The Chinese economic juggernaut is slowing down and although it is still maintaining double digit growth, there is a problem with inflation and global setbacks reports Bloomberg.

This is a concern because it tells us that China's growth story is taking a turn for the worse and that there are signs that China's export and investment-led economy is starting to sputter. The problem is that Chinese and other emerging market exports are going to feel the pain because all the excess consumption and investment demand they fed in OECD countries will start winding back because of the credit crisis. That means places like China, which are basically over-developed factories, will be left standing idle, and that's a problem because in the end, it will result in reduced demand. That will in turn see a fall in commodity prices.

The numbers coming out of China might be a warning for the global economy.