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Home Business & Finance

Sinking Ship: China’s Economic Powerhouse Struggles Amidst Climate Crisis

Benita OrumabyBenita Oruma
April 26, 2024
in Business & Finance
1
Sinking Ship: China’s Economic Powerhouse Struggles Amidst Climate Crisis
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China is the second most populated country in the world and the second biggest economy today. Over the decades, the country has grown it’s economy through free markets, privatization, building infrastructures, domestic production and preferential use of domestically produced goods. Raising the standard of the country to the world’s largest exporter.

However, this boisterous global economy has recently encountered a challenge. Based on recent news, China is facing heavy downpour, causing flooding in many cities and posing a threat to lives, homes, and businesses of people living in China.

One major city grossly affected by this natural disaster is the Pearl River Delta. The Pearl River Delta is a bustling region in China with massive infrastructures for manufacturing and trade; it serves as a manufacturing base for not only China but also for the world at large with lots of foreign investments situated within the region. Aerial footage of the region shows streets covered with water as rivers overflow their banks with buildings and structures submerged.

The heavy downpour in China have been widely attributed to two basic factors

Climate change: Many countries in the world are currently experiencing climate change due to imbalance in the ozone layer and other climatic factors. In the case of China, climate change is mostly attributed to the emission of greenhouse gasses into the atmosphere. Greenhouse gases are gases in Earth’s atmosphere that trap heat, contributing to the greenhouse effect and global warming.

These gases absorb and emit radiation within the thermal infrared range, which warms the Earth’s surface and helps regulate its temperature. However, human activities, such as burning fossil fuels and deforestation, increases the concentration of greenhouse gasses in the atmosphere, leading to enhanced greenhouse effect and climate change.

Considering the Pearl River Delta, also known as the crown jewel of China and manufacturing hub of the world. It is without doubt that the amount of greenhouse emission in the area is very high, due to the extensive number of factories and industries situated within the area.

In respect to the above, it can be assumed that Greenhouse emissions have truly affected the climate within that region causing the heavy and unusual downpour.

Rising water level: “Rising water level” or “Sinking land level” either one of these two words have be used in regard of this disaster. BBC News reported that “dangerously high water levels” are being monitored in China by authorities.

Firstpost reports says “China is sinking”, stating that lack of enough underground water results in a hollow ground that is not able to sustain the weight of the large structures and buildings in China.

I quite agree with the position of Firstpost on this matter. Flooding occurs when rivers overflow its banks due to high level of water. it can also be attributed to an imbalance in the earth surface causing the rising water level to flow down to the sinking land level when the downpour increases.

As an economic state with upgraded infrastructure, large buildings and heavy structures, the possibility of a sinking land is very high especially where the ground water level is very low. This current threat to the economy of China also threatens the world’s economy and is a thing to consider because a large percent of the world’s economy can be related to China.

The flooding in the Pearl River Delta will obviously put a hold to the economic activities within that region. Considering the amount of foreign and domestic industries withing the hub, this disaster poses a major threat to economy and livelihood of nations.

Not to think of the amount of that will be lost within this time based on the flooding. Recent reports also shows damaged and collapsed structures amounting to an estimated direct economic loss of nearly 140.6m yuan ($19.8m).

This disaster will also cause a disruption to manufacturing and production activities within the region. Affected industries are bound to experience a decline in their level of production and the availability of their products, leading China and the global economy into inflation of prices of goods caused by insufficient supply.

Nigeria for example, as one of the purchasers of goods imported from China may be affected by this inoperativeness.

However, we know China to be wearing a really sound thinking cap when it comes to innnovation. Hopefully, China will be able to turn this situation around.

Or won’t they????

Tags: BusinesschinaChina will be able to turn this situation around. Or won't they????Climate crisisEconomyfederal characterSinking Ship: China's Economic Powerhouse Struggles Amidst Climate Crisis
Benita Oruma

Benita Oruma

Benita Oruma is a lawyer in training, a 400 level student in the university of Ibadan. She is a content writer with interest in corporate affairs and the marketplace.

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Comments 1

  1. Florence Ewuruje says:
    2 years ago

    Thank you for enlightening us. I believe China should be wearing their thinking cap by now and pressing on how to resolve. Good write up. Well done❤️????????

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