Sunday, February 3, 2008

China snowstorms won't have big economic impact, says China

Huge snowstorms. Hundreds of millions of lives disrupted. People stranded for days, if not weeks. Emergency shipments of food and fuel have difficulty reaching their destinations. Some 60 people killed, and economic damages of USD 7.5 billion.

Big problem for a capitalist country, probably. But not China. They shrug it off, according to this story in Marketwatch, via the South China Post. The fundamentals of the economy will be fine. The Deputy Head of the National Development and Reform Commission has said so, and it would be churlish to believe otherwise.

Photo of bus in China in a snowstorm by sarcozona, Wikimedia Commons

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