China’s Heavy Flooding Hits Shop Owners

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  • Heavy flooding in areas along China’s Yangtze River has forced millions of people to leave their homes.

    Wanzhou, a city near Chongqing in southern China, is one of the places hard-hit by this summer’s heavy flooding. A lot of the shops were flooded and their products were destroyed in the city.

    Chen, a shop owner who wanted to go by his last name, says his shops lost $5 million Chinese yuan (around $731,000) because of the heavy rainfall.

    “The government hasn’t done enough flood prevention and if measures aren’t taken, similar disasters will happen again in the future,” says Chen.

    The flooding could impact agricultural and manufacturing output, as well as constrain consumption and investment demand, according to economists from Nomura Holdings Inc. and Huachuang Securities Co.

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    In This Story: China

    China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes the former nations of Tibet and Hong Kong. The capital is Beijing.

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    The Yangtze or Yangzi is the longest river in Asia, the third-longest in the world and the longest in the world to flow entirely within one country. It rises at Jari Hill in the Tanggula Mountains and flows 6,300 km in a generally easterly direction to the East China Sea.

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