China check-up: Earthquake response and interest rate reform

China check-up: Earthquake response and interest rate reform
China check-up: Earthquake response and interest rate reform

China check-up: Earthquake response and interest rate reform

Earthquakes hit northwest China’s Gansu Province Monday morning, killing 89 people and injuring more than 600, according to the state-run Xinhua News Agency. The quakes left plenty of structural damage as well. Xinhua reports that 73,000 homes were “severely damaged,” and more than 5,785 houses have fallen. Author Wenguang Huang weighs in on how the government has responded and gives us an update on how the Chinese economy is faring under new interest rate reforms. (Photo: Xinhua)