Controlling the floods

The largest typhoon of the year has made landfall over southeastern China, with over one million evacuated, thousands of flights grounded, and transport and construction projects halted across the region. The economic and human impact across China’s financial and manufacturing heart will likely be felt as policymakers are under pressure to hit that 4.5-5% GDP growth target.

Control of water, particularly floods and droughts, has played a huge part in Chinese history going right back to Yu the Great who was said to have established the 5000-year-old mythical Xia dynasty after controlling the floods that ravaged the Yellow River basin. The myth sets a precedent in the Chinese collective mind that a ruler’s legitimacy comes at least to some extent from their ability to control nature and avert disaster.

Climate change is an increase in all sorts of freak weather incidents across the world—from floods to wildfires—and scientists believe this will get worse. Much of China’s manufacturing infrastructure, as well as its financial capital, sits in an area frequented by typhoons coming in from the Pacific. As Beijing is battling with weak domestic consumption, a slumping property market, and increasing pushback from its export-heavy trade, policymakers are also having to deal with the forces of nature which are seemingly intent on slowing things down further.