Typhoon Mangkhut could cause $120 billion in damage: Report
Super Typhoon Mangkhut, the most powerful storm of the year, could cause about $120 billion in damage in China and Hong Kong if it stays on its course, a report stated. After forming in the Pacific, Mangkhut struck northern Philippines on Saturday. The economic losses in the Philippines could reach 6.6% of GDP, or over $20 billion, the report added.