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Oxidization reaction happens when H+ ions react with another anion and gets reduced to a bonded atom status.

When the concentration of H+ ions is reduced to 1/100 th of its concentration, then oxidizing power is also reduced by that amount. As the oxidizing power and ion  activity is dependent on [ H+ ].  On a logarithm scale, the pH will be changed two times.  So power becomes half on pH scale.