The landscape of Chongqing, a city of millions that includes the surrounding farmland and steep and scenic mountains, has been transformed by an unusually long and intense heat wave and accompanying drought.
(Photo: dpa)
Beijing Dried up rivers, energy shortages, scorching heat of more than 40 degrees: China is suffering from the worst drought in decades. Daily electricity generation from hydropower has collapsed by 51 percent, while at the same time the air conditioning systems, which are working at full speed, are consuming more and more electricity.
This is having a massive impact on the Chinese economy: electricity is being rationed in many factories in the affected provinces, and shopping centers are having to close earlier to save energy. The country’s economy is thus facing another stress test, although the Covid crisis is not yet over. This economic stress situation is also affecting non-Chinese companies – such as German car manufacturers.
China’s economy is recovering more slowly than expected from the spring lockdown shock. Experts cite the ongoing uncertainty about renewed lockdowns as the reason, which is causing companies and consumers to go on consumer strikes. In addition, the real estate crisis is getting worse and worse.
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