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impact of these floods. the flooding so far in the month ofjuly is estimated to have cost around 25 billion usd. and of course the season for these sort of extreme weather events is not yet over. august and september, historically, have also often had severe weather events, such as typhoons and floods, as well as drought. last year, china was also hit by a very severe drought. so what we re seeing is increasing impact of severe weather events on china. and this is, of course, linked to rising temperatures globally. climate change is very much linked to what we re seeing at present in china and in recent years. and there s a lot of concerns that as global temperatures rise further towards that global target of one and a half degrees centigrade, that the impact and economic costs of these severe weather events will actually increase significantly further. so in your view, should there be more investment in infrastructure in order to prevent devastations that we saw? i thi ....
i mean, these figures for trade are actually even worse than economists had anticipated in terms of exports. it s the weakest data since back in february 2020, when china, of course, was right in the thick of the pandemic. why is this data so bad? well, it s mainly to do with china s customers abroad. they re really struggling with high inflation, high interest rates. so they re spending less money on chinese goods. and if you re a policymaker in beijing, well, it s difficult to say what you should do about that. you can tjust force other countries to start buying more of your goods. but there s also more to contend with. if you look at the spending within china, that s also looking not very encouraging at the moment. tomorrow, we re expecting some more figures to be coming out, which will probably show deflation prices actually going down in china. that s a bit more difficult to explain. but there are some people who think that china s zero covid policy went on for so ....
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Tom Zhu, Tesla’s 2nd in command and the man expected to one day replace Elon Musk as the Tesla CEO, has resigned from his global duties and has returned to China. This move suggests Tesla’s refocus on expanding its current production facilities. ....