Natural disasters are the latest piece in the gloomy economic picture of China this year. Despite the fact that Beijing has pumped trillions of yuan through stimulus and bailout packages, the country’s economic situation this year is still difficult to predict. General Hospital Nurses Ball Official T-Shirt
Heavy-duty trucks in China are selling well, up 89% in July compared to the same period last year, excavator sales are also up nearly 30%, statistical data shows.
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This is reasonable when the demand for machinery and means of transporting Chinese goods increased sharply after the pandemic.
However, China’s electricity and cement inventories have been higher than many years ago. Government spending surged, but money invested in industry declined, according to Bloomberg.
Many domestic experts expressed hope that Beijing will find a way to overcome the current difficult economic times. China has pledged to increase spending by 288 billion USD and issue bonds to have more money.
The reality of China’s current economic situation is very difficult. Flood not only pushes consumer prices, especially pork, to skyrocket, but also slows down construction and production. This year’s historic flood season in China mainly affects the thriving industrial areas in the south, such as Hubei and Chongqing.
Although China is said to have been able to control the Covid-19 translation, people in this country are still reluctant to spend money on shopping. The Chinese manufacturers and companies are “headache” solving the total output for the product.
Floods are natural disasters that occur every year in China. In some years such as 1998 and 2016, the country’s economy was seriously affected by natural disasters. To solve the problem, Beijing has built 98,000 reservoirs, 110,000 hydrological stations and hundreds of thousands of dykes, large and small across the country.
However, climate change makes the weather more erratic and elusive for China.
The study of flood impacts on the manufacturing sector in the seven years from 2003 to 2010 showed that China’s industrial output decreased by 28.3% in years with widespread flooding.
While the volume of freight increased, it was found that the number of passengers traveling by rail and air in China fell sharply. This shows that the General Hospital Nurses Ball Official T-Shirt major cities of a billion-population nation, with mostly rural migrant workers, have yet to fully restore production.
Another obstacle is that the banking system has many holes. Although China has a loosening policy, direct funding is still congested when the General Hospital Nurses Ball Official T-Shirt economy needs money most, according to Bloomberg.