Jeffrey Schwartz, the CEO of McDonald's' (MCD) China operation, boarded a plane on the morning of Jan. 28 in Shanghai for what should have been a routine flight to Beijing. But with some of the worst winter weather in memory hammering the country's transportation network, there are no routine flights in China these days. Schwartz didn't arrive in the Chinese capital till that night. "That hour-and-45-minute journey took me 12 hours," he says. "It was the snow."
Millions of people throughout China are suffering far greater hardships. One of the worst snowstorms to hit China since the government began keeping records in 1950 has wreaked havoc throughout the country. At least two dozen people have died in accidents and 827,000 people have been displaced. Heavy snowfall has caused gridlock at train stations and airports, just two weeks before the Chinese New Year begins and hundreds of millions of Chinese return home for the holidays.
Millions of people throughout China are suffering far greater hardships. One of the worst snowstorms to hit China since the government began keeping records in 1950 has wreaked havoc throughout the country. At least two dozen people have died in accidents and 827,000 people have been displaced. Heavy snowfall has caused gridlock at train stations and airports, just two weeks before the Chinese New Year begins and hundreds of millions of Chinese return home for the holidays.
The major snow storms are causing inflation and power shortages in China. The weather has created transportation problems for travelers, and has hindered the shipments of coal, which is required to fuel China's power plants. According to the Civil Affairs Ministry, the snowstorms have cost $3 billion in damages.
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