China’s Worst Flooding Since 1998 Kills 173, Takes Economic Toll
- Officials: Fruit, vegetable prices have ‘risen signifcantly’
- Economists see short-term economic drag, longer-term support
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Weeks of torrential rain across central and southern China have caused the country’s worst flooding since 1998, killing 173 people, ruining farms and cutting major transportation arteries -- and creating potential headwinds to economy growth.
A swollen Yangtze and other rivers spilled over their banks as flood waters moved toward the coast. That was compounded by the arrival of Typhoon Nepartak, which was downgraded to tropical depression as it made landfall on Saturday in Fujian province.