Monday, May 10, 2021
Home News Reports Even as China provokes India in Ladakh, its domestic woes reveal the country is...

Even as China provokes India in Ladakh, its domestic woes reveal the country is in deep crisis

The campaign calling for judicious use of food came after southern China witnessed mass flooding, wrecking farmers and ruining tons of farm produce. Since early June, China has been severely impacted by massive downpouring that has inundated large tracts of Southern China.

On the intervening night of August 29 and 30, a contingent of Chinese soldiers stealthily attempted to transgress into Indian territory on the southern bank of Pangong Tso lake in Eastern Ladakh, triggering a fresh wave of confrontation between the Armed Forces of the world’s two most populous nation.

However, Indian forces, having had the first-hand experience of Chinese treachery in Galwan Valley, were vigilant of the possibility of another clandestine attempt by China’s PLA troops to nibble away at Indian territory. This time Indian forces outfoxed the Chinese manoeuvres and pushed back about 400-500 Chinese soldiers while managing to take control of a previously unoccupied ‘strategic height’ in the area.

While the Chinese proceeded on a surreptitious plan to renew hostilities along the simmering Line of Actual Control, its penchant for inciting provocation belies the raft of domestic woes that are staring the authoritarian ruler Xi Jinping in his face.

China facing a food crisis as floods inundate large swathes of the country

China is also suffering from a looming food crisis. However, this crisis has been spun by the Chinese premier as a crusade against food wastage. China’s food shortage was also tacitly acknowledged by Xi Jinping when he launched a campaign against food waste. Jinping launched a campaign known as “Clean Plate”, urging people to order fewer plates of food while visiting restaurants and avoid wasting food.

Reports claim that farmers in China are hoarding crops. They believe that a shortage of food supply might be imminent. A senior agriculture minister has issued reassuring statements that consumers should not resort to panic buying. But, it appears that such reassurance have fallen on deaf ears.

Excessive rains and subsequent flooding have already disrupted the production of wheat, rice and other crop production in the provinces along the entire Yangtze River.

The campaign calling for judicious use of food came after southern China witnessed mass flooding, wrecking farmers and ruining tons of farm produce. Since early June, China has been severely impacted by massive downpouring that has inundated large tracts of Southern China.

The catastrophic floods, described as the worst since 1998, had reportedly affected more than 63 million people and cause a direct economic loss of more than $26 billion.

China’s agriculture is also pummeled by the scourge of African swine flu that has led to the death of more than a million hogs. Last year, the African flu killed more than 180 million swine, about 40 per cent of China’s pig population. Meanwhile, the locusts have devoured about 3 millions of acres of cropland along their way. The onset of the floods has only exacerbated the government’s efforts to control the spread of the locust damage and the raging infection among the swine.

China’s top banks reporting enormous losses

China is currently in the throes of grave economic crisis, with its banks reporting inordinate losses. Chinese banks–Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications have lost billions of dollars in profit. One of the reasons is because the Chinese government has pressed them into “national service”, wringing money out of them to support the economy that is staggering under the coronavirus crisis.

As per reports, the Chinese Communist Party has asked its banks to forgo 219 billion dollars and to reduce the lending rates and postpone the payments on loans. Besides, Chinese banks have to deal with non-performing loans of worth $ 480 billion, a statement released by China’s top banking regulator says.

Oil companies in China staring at cratering losses

In addition, China’s oil companies are also reeling under the coronavirus-induced lockdown across the world. Sinopec, one of Asia’s biggest refineries has reported a staggering loss of $3.2 billion, as the demand for oil has plummeted amidst pervasive lockdown. This is Sinopec’s world ever loss over a period of 6 months.

Another Chinese oil behemoth, Petrochina, the country’s biggest oil producer, has posted an even bigger loss of approximately $4 billion.

Beset by a host of domestic problems, China’s bold pursuit of aggressively claiming overlapping territorial disputes with more than 14 of its neighbours, including India, betrays that it might be a ploy by the embattled Chinese premier Xi Jinping to cause a distraction away from the internal woes, and rally support by leaning on nationalism.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Searched termsChina floods
OpIndia Staff
Staff reporter at OpIndia

Related Articles

Trending now

Gujarat: Extensive campaign launched to test, trace and isolate people in villages to arrest spread of coronavirus pandemic

Gujarat is currently one of the few states in India which has not gone for a full lockdown.

Reliance Group among the top donors in India Inc’s COVID relief response: Read the details

Mukesh Ambani's Reliance Industries Ltd (RIL) and Reliance Foundation has emerged as one of the largest donors as India Inc expands its relief efforts during COVID-19

SC puts Prashant Kishor’s appointment as advisor to Punjab CM under the scanner, seeks response from Congress-ruled state govt

Prashant Kishor had recently declared that he is quitting his career as political strategist and would look at an alternate career

BMC chief explains why it is not the Modi govt but the states that need to be blamed for the oxygen crisis

BMC chief said that mismanagement of states is responsible for the oxygen crisis and increased number of SOS calls

Yogendra Yadav was aware of the rape of a woman by AAP leaders at the Tikri border ‘farmer’ protest site: Report

A report published in Dainik Bhaskar says that Yogendra Yadav was intimately aware of the sexual assault of a woman at the Tikri protest site and yet he remained tight-lipped about the incident

Uttar Pradesh: Boeing to construct a 200-bed COVID hospital in Gorakhpur

UP state government is rapidly working on expanding medical facilities in the state in collaboration with various corporate and multi-national companies while using all available government resources.

Recently Popular

‘Dominance of one religious group cannot prevent religious celebrations of other’, says Madras HC after local Muslims object to Hindu procession

The Madras High court concluded that similar acts of 'resistance' by other religious groups would result in loss of lives, destruction of properties, riots, religious fights and chaos.

Here is how The Lancet used dubious sources to blame Modi Govt for the Covid crisis

Following the abrogation of Article 370, The Lancet had issued a strong condemnation of the Indian Government.

Iran: 20 year old youth Alireza Fazeli Monfared beheaded by half brother, cousins for being gay

Alireza Fazeli Monfared, a 20 year old Iranian youth, was murdered by his brother and cousins due to his sexual orientation.

‘Won’t last here for a week’: Instagram removes Kangana Ranaut’s post for calling Covid ‘small time flu’

Bollywood actress Kangana Ranaut has said that she believes she will not survive a week on Instagram after a post was removed.

Arvind Kejriwal govt expels 7 journalists from Whatsapp group after report critical of govt handling of oxygen crisis, senior journalists keep mum

The Arvind Kejriwal government has been the darling of the media for a long time but it seems to want absolute devotion

Parody Tinder accounts of ‘newly single’ Bill Gates emerge after his divorce announcement, promise exclusive ‘third dose’ of vaccine

The fake profiles on Tinder appeared right after Bill Gates announced that he is getting a divorce from his wife Malinda Gates
- Advertisement -


Connect with us