China's PMI Slowdown Likely Due to Slowing Global Growth, Says Capital Economics

The video discusses the recent slowdown in the Purchasing Managers Index, exploring whether it is a result of the trade war or a broader global economic slowdown. It examines the impact of US tariffs on exports, noting that while short-term effects may be mitigated by domestic stimulus measures, long-term challenges remain. The discussion highlights the difficulty in boosting consumption quickly and the reliance on infrastructure and property for stimulus. The video concludes by addressing the potential structural problems that could arise from continued stimulus efforts, such as increased debt and overcapacity.

In what ways has the construction component of the services PMI changed recently?

What are the potential long-term consequences of the stimulus measures mentioned in the text?