How China’s Flood Of Cheap Exports Boosts Its Economy And Kills Ours
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China's Economy in 3 Charts
The Chinese government's report for the first quarter of 2024 was a mixed bag of cause for optimism and systemic issues that continue to drag on economic growth.Newsweek charts based on the latest data from China's National Statistics Bureau illustrate three key bellwethers of the world's second-largest economy.GDPAccording to the new data, China's gross domestic product (GDP) expanded by 5.3 percent year over year, slightly higher than Q4 2023 and beating many economists' expectations.Though...
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Many trapped by unseasonal floods in China
STORY: China’s Guangdong province faces severe floods. Rescuers on boats rushed to evacuate residents on Monday, carrying some elderly people on their backs. Helicopters were deployed to save villagers who were caught in landslides.Ling Ziuzhen lives in Qingyuan city: “Since two years ago, the rainfall started to get relatively heavy, and this year. In the past, the floods rarely rose to this point. At least the floods got drained.”Situated in the densely populated Pearl River Delta – the...
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Tens of thousands evacuated from floods in China's south
STORY: More than 700 school students stranded in their dormitories after heavy rains and the ensuing floods were rescued by emergency workers, said CCTV.The southern Chinese province has been battered by unusually heavy, sustained and widespread rainfall since Thursday (April 18), with powerful storms ushering in an earlier-than-normal start to the region's annual flooding season.As of Monday morning, 11 people were missing in Guangdong, state-owned Xinhua news agency reported without giving...