In China, the heatwave burns crops and stifles economic activity

China is currently facing an unprecedented heat wave. With more than 36 degrees recorded last week in Shanghai, and even 38 degrees in Shenzhen, it is the hottest May in a century in the country. This second consecutive week of drought has catastrophic consequences for the economy. The consequences are already clearly visible. Beyond the heat that suffocates the big cities, the countryside is devastated. Spring sowing in the rice fields is already scorched by the sun, vegetable prices have again soared by more than 20% year on year. In northeast China, Asia's breadbasket, production is set to fall and challenge China's goal of food independence. Heat wave could cost China 1 growth point At the same time, several provinces have already limited the supply of electricity to several hundred energy-intensive companies, mainly for aluminum production. This historic heat wave could cost China between 1 and 1.5 points of GDP growth this year. All the countries in the region are also hit ...