The OECD has observed that China's economic growth is slowing down. There is reason to believe that this could be a long-term structural trend, and the double-digit growth that has characterised the Chinese economic juggernaut is becoming a thing of the past. If that's the case, it has momentous implications for China, the world and India. Wages are rising rapidly in China, which indicates that its vast army of surplus rural labour, waiting to man its expanding factories, is no longer a resource that China can rely on.