China's July Disasters: Economic Losses and Human Impact

China's direct economic losses from natural disasters in July reached 41.18 billion yuan ($5.74 billion), surpassing the losses from January to June combined. Severe weather, including two powerful typhoons and widespread floods, has impacted over 7 million people across the country. The losses, which exceeded the first half of the year, are expected to further hinder the quarterly growth of the world's second-largest economy. China's national forecaster has warned of increased rainfall and heatwaves in August, which could exacerbate the economic impact. The government has allocated additional funds to support post-disaster recovery efforts in affected regions.