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Comment (CRACKED dams and buckled roads, collapsed buildings and toppled factories - China has begun tallying losses from the calamitous earthquake that struck earlier this week and already estimates are that the damage will cost the country $US20billion ($21.3 billion).
With the death toll from the disaster forecast to rise as high as 50,000, China's main focus yesterday remained on rescue and relief for survivors of the 7.9-magnitude quake that hit Sichuan province on Monday.
Central and local authorities have allocated 5.4billion yuan ($823 million) for disaster relief, the central bank said, as millions more poured in via public and corporate donations.
Given the extended destruction of roads, schools, homes, businesses and other infrastructure, AIR Worldwide, a catastrophe risk-modelling firm, said it estimated that losses to insured and uninsured property would probably exceed $US20billion.
Insurance companies had paid out 1.7 million yuan as ...
