Chinese government is facing the music for not sending planes to rescue 8,000 Chinese nationals stranded in Nepal.
The government is being criticized for sending only commercial airlines to rescue Chinese tourists and workers in the disaster hit Nepal. Reports of airlines demanding heavy fare from the rescued people, though officially denied, have nonetheless added fuel to the fire.
Comparisons are also being drawn between Indian Army’s swift rescue operations and that of China’s People’s Liberation Army, which seems to not be as effective as the former’s.
Faced with the question of airplanes in rescue operations, Chinese defense spokesman Geng Yansheng said, ‘ Whether to use military aircraft to transport people from a disaster area this is to be decided by various factors. After the earthquake, the government had organized a number of civilian commercial flights to evacuate Chinese citizens stranded in Nepal.’
He also said that three helicopters from Tibet had taken food and water to the Chinese employees at a hydro project, airlifting some of them.
Meanwhile, Chinese Foreign Ministry has offered to work with New Delhi in the ongoing rescue operations.
“China and India are neighbors to Nepal. We would like to work together and coordinate positively with India in our assistance efforts in Nepal to help it to overcome the difficulties and rebuild its homeland,” said Chinese foreign ministry spokesman Hong Lei.
Apart from Indians, Indian Air Force also rescued 170 people from 15 different countries who faced nature’s wrath in Nepal.
China’s November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further, underlining rising risks to the economy as China works to defuse a trade dispute with the United States.
The world’s second-largest economy has been loosing momentum in recent quarters as a multi-year government campaign to curb shadow lending put increasing financial strains on companies in a blow to production and investment.
The slowdown in Chinese industries has started to weigh on consumer sentiment this year, tapping the brakes on retail sales. Big-ticket items have been the first to be hit, with auto sales declining since May.
Pace of retail sales slows
Retail sales rose 8.1 percent in November from a year earlier, data from the National Bureau of Statistics showed Friday, below expectations for an 8.8 percent rise and the slowest since May 2003. In October, sales increased 8.6 percent. Auto sales fell a sharp 10.0 percent from a year earlier.
The slump was in line with data released by China’s top auto industry association, which showed sales dived 14 percent in November, the steepest drop in nearly seven years.
The stresses on broad activity have been compounded by a sharp escalation in China’s trade dispute with the United States, which has threatened to fracture global supply chains, chill investment, exports and growth.
Pace of industrial output slows
Industrial output rose 5.4 percent in November, missing analysts’ estimates and matching the rate of growth seen in January-February 2016. Factory output had been expected to grow 5.9 percent, unchanged from October’s pace.
Over the weekend, China reported far weaker than expected November exports and imports, reflecting slower global demand and waning domestic factory activity as profit margins narrow.
With economic growth at its weakest since the global financial crisis, Chinese policymakers are ramping up spending, pushing banks to increase lending and cutting taxes to shore up businesses and ward off a more damaging slump.
The weaker November industrial output and retail sales growth numbers showed that downward pressure on the economy is increasing, said Mao Shengyong, spokesman at the statistics bureau.
Still on track to hit growth target
But China is on track to hit its 2018 economic growth target of around 6.5 percent, Mao told reporters.
“On balance, the latest data show an economy that is under pressure on both the external and domestic front, with policy efforts to shore up growth still falling short,” Julian Evans-Pritchard, senior China economists at Capital Economics, wrote in a note.
A temporary 90-day trade war truce agreed by the United States and China early this month may have removed some of the immediate pressure on the economy.
The impact on China’s economy from the Sino-U.S. trade frictions are not apparent yet, Mao cautioned, adding that the nation will face more “external” uncertainties in 2019.
Indeed, even in the unlikely event the world’s top two economies reach a durable resolution in their dispute, ebbing domestic demand, mounting household debt and a cooling real estate sector point to a further slowdown in growth next year. (VOA)