Ch8 Blog

http://www.dose.ca/news/story.html?id=43be2aed-e622-43b7-a0a5-b9f632b71ad9

Summary

This topic is about the disastrous earthquake that happened in SzeChuan China. Japan has gave out a helping hand to China in $4.8 million of goods and cash. The death toll resulting in the quake is continuing to rise by tens of thousands as according to the Xinhua news agency. It stated that about 18,645 people were burried under torn down buildings and debris in the city of Mianyang, which was the epicenter of the earthquake. China government has requested aid in many foreign countries. The Japanese Foreign Minister ,Masahiko Komura, has announced Tokyo's aid which will be disbursed through the Chinese government and international organisations, and is willing to offer further aid if it is necessary. The United States, Britain, the European Union, South Korea and Taiwan have also offered assistance since the disaster, but China still hasn't accepted Taiwan's offer. Moreover, the International Olympic Committee on had also decided to donate $1.0 million and the United Nations also offered support.

Relation to the Chapter
After this earthquake, I beleive it will affect China's economy greatly. First of all, I believe China will be owing a lot of money from many countries, regardless of all the aids, they still won't have enough money to rebuild all the damage buildings. Thus, as according to the monetary policy, Chinese government may increase tax in order to increase tax revenue, so that they can have enough to pay others back. As they are increasing tax, people would be likely to spend more and save less, which can also save the country from being in a recession.

Personal Reflection
I feel very sad and sorry for those who are suffering in China, especially those students who got trapped in the schools, since this topic is on the news everyday. Moreover, I think this has greatly affected the moods of all people around the world, seeing so many lives taken away because of this tremor. I am very glad to see that the world is co-operating together to help save China, since the article has mentioned that many countries are offering aids and rescue teams over to China; this warms my heart. I am hoping that Canada can also help fundraise and give out our helping hand as a whole over to China.