China growth rates fall

China's growth rates have fallen to single digits for the first time in five years, shattering hopes that the country's growth would keep the world economy moving despite the financial crisis in the West.

The National Bureau of Statistics said the economy had grown at a rate of nine per cent in the three months to September - down from 10.1 per cent over the previous quarter and a significant fall from the 12.2 per cent growth seen in the first three quarters of 2007.

China is now facing the prospect of a severe economic crisis, with export orders down sharply. Last week the Chinese government said that half of the country's toymakers have gone out of business.