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Floods in Pakistan and India have left at least 405 people dead
Floods in Pakistan and India have left at least 405 people dead
Worldcrunch

Tuesday, September 9, 2014

MH17 PRELIMINARY REPORT
Dutch experts this morning published their preliminary report into the causes of the July 17 crash of Malaysia Airlines flight MH17 in eastern Ukraine. The report stopped short of saying whether a missile had hit the aircraft, explaining instead that it broke in mid-air after being hit by “a large number of high-energy objects that penetrated the aircraft from outside.” The description matches the theory that the crash was caused by shrapnel from a missile, The Guardian writes.

The full report is expected to be finished within a year of the crash. The experts explained they needed to do further research to determine the cause “with greater precision.” The evidence released so far neither confirms nor rules out the responsibility of either Russia or Ukraine, as both sides use the missiles believed to have caused the damage, a BBC correspondent explained.

DEADLY FLOODS IN INDIA AND PAKISTAN
Last week’s heavy monsoon rainfalls over northern India and Pakistan have caused massive floods, leaving at least 405 people dead and thousands homeless, AP reports. Reporting about the difficult rescue operations, The New York Times explains that “a very large number” of people were still stranded yesterday with no food or water.

KERRY VISITS MIDEAST TO BUILD ANTI-ISIS FRONT
U.S. Secretary of State John Kerry begins a days-long visit to the Middle East today during which he will meet with officials from several allies, including Jordan and Saudi Arabia, in an attempt to build a broad regional coalition against ISIS, AFP reports. His trip comes one day after he hailed the formation of a more inclusive government in Iraq as a “major milestone.” But Bloomberg warns that Kerry’s task will not be an easy one because rival countries such as Saudi Arabia and Iran will be wary of any move that might benefit the other. Meanwhile, CNN quotes two officials as saying that they are very close to identifying the killer with a British accent who is seen on the videos of journalists James Foley and Steven Sotloff last moments.

142%
Soaring carbon dioxide emissions sent greenhouse gases in the atmosphere to a new record in 2013, a new UN report says.

UK ON ALERT AFTER SCOTTISH POLL
Pro-Union parties in the UK are launching an 11th-hour attempt to woo Scottish voters into voting against independence in next week’s referendum, as new polls show both camps neck and neck.

WORLDCRUNCH-TO-GO
As Economic Observer’s Sun Qizi reports, Chinese capital is flowing to South Korea, thanks to the popularity of South Korean television in China. “It’s estimated that by 2015 more than 370 million China households will be watching web television,” the journalist writes. “South Korean television dramas have over 1.5 billion fans worldwide, a third of which comes from China,” says Han Jiyuan, director of South Korea’s Investment Promotion Bureau.
Read the full article, TV Drama Is Driving A South Korean-Chinese Trade Boom.

MY GRAND-PÈRE'S WORLD
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CHINA AND THE U.S.: IT’S COMPLICATED
During her visit to China, U.S. National Security Adviser Susan Rice said the “military-to-military ties” between the two countries had “grown and strengthened,” but she warned that the two “face challenges, and we certainly need to avoid any incidents that could complicate the relationship.” Her comment was a reference to an incident involving Chinese and U.S. aircrafts last month, which further strained the relationship between Beijing and Washington. Rice’s visit lays the foundation for President Barack Obama to visit Beijing in November, when he is expected to meet with his counterpart Xi Jinping. According to the Chinese press, Rice’s meetings with Chinese officials “has created a good atmosphere for the presidential visit.” Read more from the BBC.

NEW IPHONE DAY
Today is like Christmas for Apple fans. The company is expected to release its new iPhone later today, and rumors suggest that the Cupertino giant might also (finally) unveil its “iWatch.” Read more fromThe Verge.

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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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