Money
China’s iPhone city floods impacting supply chains and killing 12
Around 100,000 people in China’s iphone city have evacuated after record rainfall hit the region
The central Chinese city of Zhengzhou has recorded record rainfall causing widespread flooding and economic disruption.
home to the world’s biggest production base for iPhones and a major hub for food production and heavy industry. Pictures published by state media showed large sections of roads submerged.
The city is home to 10 million people and so far local media is reporting 12 people have died in the floodwaters.
The deluge has brought the equivalent of more than eight months’ worth of the city’s average rainfall.
The weather event has already interrupted the operations of multiple global companies.
Nissan Motor Group has temporarily halted production in Zhengzhou.
Meanwhile, Taiwan’s Hon Hai Precision Industry Co., which owns a massive iPhone production plant in Zhengzhou, says that it had activated an emergency response plan to manage the torrential weather event.
The company stated they would put in place flood control measures but that the flooding has had no direct impact on the facility.
Money
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