The impact of China's worst drought in a half-century is deepening, as the parched weather that has left millions without enough drinking water is pushing inflation higher and adding to widespread power shortages.
Reports said Thursday that the power company in Shanghai, the country's commercial center, says some stores and factories may have to close in the hottest days of summer to cope with power shortages. The city is also scrambling to protect its drinking water from being overly tainted by salinity due to higher tides as the flow of the Yangtze River weakens.
Upstream, farmers are watching crops wither and struggling to save their livestock, while inland shipping has been obstructed by low water levels.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
Nothing in this article is, or should be construed as, investment advice.
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