“The floodwater was rising, and I found a leak on the rear surface of the embankment. His deputy, Premier Li Peng, was the leading proponent. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. The rainwater is now reaching the downstream portions of the river and the Yangtze River Delta, which is China's industrial heartland. The massive Three Gorges Dam - arguably China's most-famed piece of engineering prowess - is bulging at its concrete seams. What's more, these are chaired by General Secretary Xi Jinping - the flooding goes right to the top.There has been a meeting of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China. Some long-term signals were triggered. The less-severe flooding in 2016 was aided by better flood control due to the Three Gorges Dam, harming only 3% of total farm crops. Besides Kumamoto, there were also landslides and flooding in neighboring Nagasaki and Kagoshima prefectures.China's extremely heavy flooding in 1998 hit 223 million people in the end - a quarter of a billion. And that if it fails, it would kill millions of people, perhaps 100 million according to some claims, and displace even more. To some superstitious observers, these floods come hard on the heels of the plague, disasters of Biblical proportion.Should the authorities not handle the crisis well, the hit to the reputation of a Chinese Communist Party struggling to control its coronavirus narrative could be severe. Floodwaters are also rising in the middle and upper reaches of the Yellow River, China's second largest, which sits to the Yangtze's north.You know the flooding is serious because the Chinese Communist Party has been holding meetings about it. Despite this, construction continued as did the problems. Kumamoto is always inundated in June and July - 41% of its rain falls in those two months alone. The seven prefectures currently experiencing the heaviest flooding amount to 29% of China's current agricultural sector, so the farming impact could be huge. Perhaps the most grandiose -- and controversial -- effort was the construction of the Three Gorges Dam on the Yangtze River in central China's Hubei province. "Three Gorges Stable, prevents out-of-control floods," runs a worryingly defensive headline in the The poor dam has faced "smears and rumors" and is being defamed with "groundless hype," "People's conscience is more easily distorted than a dam, while the dam is much stronger than rumors about it, observers said," the propaganda piece concludes.So there you have it. The water had risen to 30 meters, above the maximum level that the dikes on the dam could accommodate. There was a problem trying to send your email to Email Real Money's Wall Street Pros for further analysis and insight I'd bet the English have more words for rain than the Inuit supposedly have for snow.So here in Hong Kong, we are watching the intense downpours in China. Parts of central and southern China are experiencing once-in-a-century flooding. That would knock 0.2 percentage points off China's economic growth in the third quarter, according to Nomura's math.More than half the hit comes from disrupted industry and the rest from flooded-out farmers. Real Money's message boards are strictly for the open exchange of investment ideas among registered users. The Chinese Communist Party (CCP) is not eager to discuss how many corners might have been cut to make up for the funds that were pilfered from the $30 billion project.
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