China’s deadly summer floods have caused $25B in damage

2 mins read


Summer floods in China have left more than 200 people dead or missing and caused $25 billion in direct damage, an emergency management official said Thursday.

The floods struck major river systems across the central and southern parts of the country.

Major cities have been largely spared by the flooding, but the impact compounds losses to the economy from the coronavirus outbreak that began in the central Chinese city of Wuhan late last year.

‘EXCESSIVE’ SUMMER MONSOON RAINS IN ASIA DISPLACE MILLIONS, CAUSE AT LEAST 500 DEATHS

Vice Minister of Emergency Management Zhou Xuewen told reporters 219 people were listed as dead or missing and 54,000 homes had been destroyed.

This July 20, 2020, aerial file photo released by Xinhua News Agency shows the extent of flooding in Guzhen Town of Lu'an City in eastern China's Anhui Province.

This July 20, 2020, aerial file photo released by Xinhua News Agency shows the extent of flooding in Guzhen Town of Lu’an City in eastern China’s Anhui Province.
(Tang Yang/Xinhua via AP, File)

Economic losses of 178.9 billion yuan ($25.7 billion) were 15.9% higher than the average from flood damage over the past five years.

CLICK HERE FOR MORE WEATHER COVERAGE FROM FOX NEWS

China has the world’s second-largest economy, but growth has slowed amid rising costs and market saturation at home.

In this July 20, 2020, aerial file photo released by Xinhua News Agency shows the extent of flooding in Guzhen Town of Lu'an City in eastern China's Anhui Province.

In this July 20, 2020, aerial file photo released by Xinhua News Agency shows the extent of flooding in Guzhen Town of Lu’an City in eastern China’s Anhui Province.
(Tang Yang/Xinhua via AP, File)

While it has largely contained the spread of COVID-19, strong concerns remain over employment and the fate of its export markets amid the continuing trade war with the United States.

CLICK HERE FOR THE FOX NEWS APP



Source link

Previous Story

Trump draws a line in the sand and the Democrats cannot stand it

Next Story

When the Ninth Circuit Court Unanimously Says You’ve Gone Too Far Left….

Latest from WORLD