Is China’s economic miracle coming to an end? It sure looks that  way. Recent data and startling demographic changes portend much slower economic growth down the not-so-silken road to the future. Can China reverse the slide? Maybe not.

Last week Apple Chief Executive Tim Cook tried to pin the blame for poor iPhone sales in China on Donald Trump’s much-hyped trade war—despite the fact that the war isn’t scheduled to start until March, if it ever starts at all. The reality is that China’s economic miracle has finally come to an end, and Apple’s China sales aren’t the only ones that are down. Starbucks’ same-store sales are also flat.