China Floods: Over 2.3 Million Companies Shut Down

China could now be running short of food as millions have been forced to leave their homes due to flood and more than two million businesses are shut.

Jessica David

August 19, 2020

Trending News

1 min

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The Chinese dream seems to be edging closer to collapse with allegedly more than two million companies shutting shop and millions being forced to leave their homes due to floods. Amid the chaos, China could now be running short of food. Three companies – Huawei, ZTE and TikTok — have been banned in different corners of the world and Beijing has been fighting tooth and nail against the bans. Chinese diplomats protest every week in front of the global press but they make no mention of how businesses are shutting down in China. A report went viral on China’s favourite messaging app WeChat.

The report on WeChat claims that more than two million companies have closed down in China this year. In Jiangsu province, one out of every 10 companies has closed. Similarly, in Guangdong, several thousand companies could have gone out of business. China is dealing with its worst flooding in decades. According to one estimate, 3.7 million people have either been displaced or have been evacuated from their homes. Northwest China is among the worst-hit regions.

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