Yes, most markets are slowing, but there are still many economies that are growing in Asia such as Vietnam, India, Malaysia etc. These markets are not comparable in size to the markets of the west and this is why China's growth figures have come down quite a bit over the last couple of years. Additionally, China has slowed their own growth by raising interest rates and capital requirements etc.
If you believe China will come to a crashing hault as well, then we are all in for a frightening end to this story. Eventually, it's quite possible.