SLOWDOWN WIDESPREAD: From shopkeepers to shipbuilders, some sectors are feeling more pain from China's deepest slowdown since the 2008 global crisis than still-robust headline growth of about 8 percent might suggest.

STIMULUS SHORTCOMINGS: Higher spending by state industry and government-directed investment is pumping up the world's second-largest economy, but that is masking the fact that the private sector is cutting jobs and scrambling to prop up plunging sales.

WHAT IT ALL MEANS: China's slowdown is a setback for economies around the world that were looking to China to drive demand for exports and support global growth.