Marching towards recession: Sharp drop in China GDP growth

China GDP grew at 6.8% in the fourth quarter of 2008, first time below 10% since 2002.
WSJ :

China's government said the economy expanded 6.8% from a year earlier in the fourth quarter of 2008, confirming a dramatic downturn that has cut growth rates in the world's third largest economy nearly in half in just a single year.

China may enter into a recession by 2010. As far as India is concerned, there are still no talks of possibility of a recession. However 'expect the unexpected' is the lesson taught to us by the economic wildfire of 2008. Meanwhile, what is oil doing at $44 at this moment?