I do not think the Chinese economy is refocusing on its domestic market. If so, the GDP per capita would be going through the roof, which it is not. No, almost everything about China is artificially-inflated and the corruption and backwardness there is unparalleled in much of the developed world.
With the Chinese stealing many confidential documents from businesses, and creating these goods to be sold in an out of their country, it can become clear they are focusing on it's domestic market. If the people are happier, then the economy can be more easily stimulated the way they want it to be.
I do not believe the Chinese economy is slowing down, I think they are simply shifting gears and refocusing on their domestic market. I believe with the United States getting so close to their fiscal cliff two times has made the Chinese rethink their position and their viability in the global market.
The Chinese economy appears to be less involved with foreign trade. This has altered some of the growth that had been predicted by outsiders, but the Chinese are OK with that. I think the Chinese economists are keeping their interests as local as possible to insulate themselves from a possible financial failure in the international market. The US is struggling as is the Euro. Until there is more growth and opportunity outside of its borders, the practical economist would suggest that China keep its money at home
No, I do not think that the Chinese economy is slowing down, because they are doing better than they ever have before. China is refocusing on its domestic market as it realizes how many people are in their own country that need and want to buy goods and services. They are growing exponentially every day.