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New Zealand town rocked by earthquakes

The town of Christchurch, where an earthquake left 181 dead only 10 months ago, was shaken by two successive quakes on Friday afternoon local time. There are no deaths reported, although 19 people have been hospitalized.

Wellington - (BBC) A series of earthquakes has shaken the New Zealand city of Christchurch, sending residents rushing from buildings and causing minor damage.

The first 5.8 quake struck at 1358 local time (0058 GMT), the US Geological Survey said. Another of similar magnitude hit 80 minutes later.

Dozens of people suffered minor injuries but only 19 were admitted to hospital.

It comes 10 months after swathes of the city were destroyed by another quake.

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Economy

Abenomics Revisited: Why Japan Hasn't Attacked The Wealth Divide

Japanese Prime Minister Fumio Kishida promised to tackle wealth inequality and help struggling workers. But a year after he came to power, financial traders are once again the winners.

Japanese workers will still have to wait for the distribution of wealth promised by Prime Minister Fumio Kishida.

Yann Rousseau

-Analysis-

TOKYO — Panic on the Nikkei, the Japanese stock market. Almost a year ago, at the end of September 2021, traders went into a panic in Tokyo. On Sept. 29, Fumio Kishida had just won the general election for the country's main conservative party, the Liberal Democratic Party. He was about to be named Prime Minister, succeeding Yoshide Suga, who'd grown too unpopular in the polls.

Kishida had won through a rather original reform program, which was in stark contrast with years of conservative pro-market politics. In his speeches, he had promised to generate a “new capitalism”. A phrase that makes investors shudder.

While he did not completely renounce his predecessors’ strategy called “Abenomics” — named after free-market stalwart Shinzo Abe, who was killed last July — Kishida declared that the government needed to tackle the issue of the redistribution of wealth in the island nation.

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