The global economic impact would be huge, not only due to supply chain disruptions, but the likely financial effects of such a massive catastrophe. While China could import food to replace flooded stocks, that in turn would create global impacts on world food markets.
It would also mean the reallocation of substantial Chinese foreign currency reserves from other projects, such as the Belt and Road Initiative, which in turn would affect a range of lesser developed countries hoping to improve their infrastructure through Chinese-financed projects.
Recognizing that global crisis management resources are already severely taxed by the ongoing COVID-19 pandemic, it would nonetheless behoove national leaders and heads of international relief organizations to keep a close eye on the weather reports for central China.
This article first appeared in The Daily Signal.