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Australian Prime Minister Anthony Albanese and New South Wales Premier Chris Minns join other politicians as they lay flowers at the scene of Saturday's mass stabbing at Bondi Junction, Sydney, Australia April 14, 2024.
Hard numbers: Sydney stabbing, Pricey Pakistan, US Steel deal, Costco gold rush
6: Australia is reeling from one of the country’s deadliest mass killings after six shoppers were stabbed to death at a mall in Sydney on Saturday. The attack left several others injured, including a baby who is in intensive care. The assailant, who was shot dead by police, was known to authorities and had been diagnosed with a mental illness as a teenager.
25: Pakistan has the highest cost of living in Asia, according to a report from the Asian Development Bank, and it’s only set to grow with a crushing 25% inflation rate. Authorities have hiked interest rates to 22% to try to alleviate the problem, but Pakistan’s economy will likely require further support from the International Monetary Fund.
14.9 billion: Shareholders in US Steel overwhelmingly voted to approve an offer from Nippon Steel to acquire the company at about $55 a share — but don’t expect the deal to close anytime soon. US President Joe Biden has expressed opposition to the deal, which could cost him crucial support from steelworkers in upper Midwestern swing states like Michigan, Pennsylvania, and Wisconsin.
200 million: Wholesaler Costco is estimated to be selling over $200 million worth in one-ounce gold barsevery month, according to an analysis by Wells Fargo. Those who made their purchases in the fall, when Costco was selling the bars for around $2,000 each have earned a nice bit of profit, as gold has surged to over $2,300 an ounce since March.FILE PHOTO: Chinese Coast Guard vessels fire water cannons towards a Philippine resupply vessel Unaizah May 4 on its way to a resupply mission at Second Thomas Shoal in the South China Sea, March 5, 2024.
Is the South China Sea the next Sarajevo?
The US, Japan, Australia, and the Philippines banded together Sunday for their first joint naval exercises in the South China Sea to push back against Beijing’s aggression and territorial claims in the region. A recent op-ed published in the state-owned China Daily drew parallels between current tensions with the Philippines over the disputed maritime zone and the “Sarajevo gunshot” that preceded World War I. This view is echoed by China expert Gordon Chang, who told Fox News that “it’s more likely that the fight starts over the Philippines than it starts over Taiwan or Japan.”
Cue the cavalry: These drills, including anti-submarine warfare training, are designed to uphold the rule of law and freedom of navigation, according to a joint communique. China said it conducted its own military drills in the region in response. The drills come just ahead of a meeting between US President Joe Biden, Japanese Prime Minister Fumio Kishida, and Filipino President Ferdinand Marcos on Wednesday, when the allies will discuss further cooperation in the South China Sea — with bigger ambitions on the horizon.
The AUKUS alliance is also flirting with the idea of inviting Japan to be a new partner in countering China's assertiveness. Japan would engage in “Pillar Two” of the Alliance, which commits members to jointly developing quantum computing, undersea, hypersonic, artificial intelligence, and cyber technology. (Pillar One, which will deliver nuclear-powered attack submarines to Australia, will not include Japan. Before JAUKUS is born, however, experts say Japan must enhance its cyber defenses and better protect sensitive information. We’ll be watching for an impending announcement at the summit on Wednesday.Women take part in a ritual event of naked festival, for the first time in its 1250 years of history, at Owari Okunitama Shrine, also known as Konomiya Shrine, in Inazawa, Aichi Prefecture, central Japan February 22, 2024.
Hard Numbers: Japanese women go to naked party, Australian fires rage, French farmers fume, and Zambian creditors get paid.
1250:Washoi! Women crashed the party at Japan's 1250-year-old Naked Festival, a traditionally all-male event designed to drive out evil spirits. While they didn’t actually bare all, the first-ever female participants successfully trampled gender norms while ensuring that the festival continues as Japan’s population ages.
2000: Wildfires have forced more than 2,000 people to flee towns in western Australia. Prime Minister Anthony Albanese pledged all necessary assistance to combat the blazes, which are being exacerbated by an El Niño weather pattern known to fuel fires, cyclones and droughts.
1 : Angry French farmers delayed the opening of a major Paris farm fair by one hour, protesting costs, bureaucracy, and environmental regulations. Amid calls for his resignation, President Emmanuel Macron promised to meet with union representatives and stakeholders. European governments are concerned that the farm lobby could feed gains by the far right in European Parliament elections this June.
13 billion: Zambia’s 13bn mountain of debt is a little lighter today, thanks to deals struck with creditors China and India. It’s welcome news as the African nation contends with past defaults, depreciation of the kwacha, a revival of inflation, and a drought that was “one of the worst in living memory.” Zambia now plans to resume talks with private creditors and is back on track for a 1.3 billion bailout by the IMF.WikiLeaks founder Julian Assange arrives at the Westminster Magistrates Court, after he was arrested in London, Britain April 11, 2019.
Assange vs. America, again
The legal saga of WikiLeaks founder Julian Assange neared its end Monday as Britain's High Court considered his final appeal of a U.S. extradition request.
Facing 17 espionage charges and one for computer misuse over the 2010 publication of classified war documents, the Australian native asserts he acted as a journalist and is protected by the First Amendment. His supporters, including members of the Australian Parliament, have called for his release on legal and humanitarian grounds.
Why has this case dragged on so long? In 2012, Assange sought sanctuary in Ecuador's London embassy to avoid extradition to Sweden on rape charges. In 2019, Ecuador revoked asylum, and UK authorities detained Assange in Belmarsh Prison for bail evasion. While Sweden retracted its sex crimes accusations, the US filed espionage charges in 2019 and sought Assange’s extradition — a move he has resisted, citing suicide risks and declining health.
If convicted, the 52-year-old Assange faces a possible 175-year sentence, though American officials claim the figure would be much lower. Assange’s spouse Stella argues the case is a political witch hunt, asserting, “If he’s extradited, he will die.”
What’s next? The UK court will hear the case for two days. If it greenlights extradition, Assange’s legal team may try to get an emergency injunction from the European Court of Human Rights.Facebook logo is seen through broken glass in this illustration taken, January 25, 2023.
Hard Numbers: Facebook turns 20, DeSantis’ vote cost, Eurozone inflation falls, Dark money Down Under, Paris’ Grape Escape
20: On Sunday, Facebook turns 20 years old. Take a moment to look back at the social network’s early days – when it was a platform for dorky teens playfully “poking” each other. That was before the Obama 2008 campaign demonstrated its political utility, before young Egyptians showed dictators its threat to their power in 2011, and long before the site became a dumpster fire of Boomer conspiracy theories. And as for the teens? On Wednesday, CEO Mark Zuckerberg apologized to families who had been victimized on his platforms during a Congressional hearing on online child safety.
7,169: How much does getting your vote cost? Well, if you caucused for Ron DeSantis in Iowa, it came out to about $7,169 after the once-hopeful rival to Donald Trump spent a staggering $168 million on his campaign, only to flame out and quit after he wound up 30 percentage points behind the GOP front-runner.
2.8: Inflation in the Eurozone fell to 2.8 after rising in December, but don’t get too excited about a possible rate cut from the European Central Bank. The index is still running well ahead of its 2% target, and prices for services in particular remain stubbornly high.
57 million: Nearly AU$57 million (~US$37 million) donated to Australian political parties in 2022 and 2023 was of unknown origin, according to an analysis by the Australian Electoral Commission published Thursday. The so-called “dark money” represents about a quarter of all funding to major political parties Down Under, where the identities of donors below AU$15,200 are not subject to compulsory disclosure. (~US$9988).
1.6 million: French police are investigating the theft of 83 wine bottles from one of Paris’ finest restaurants in a $1.6 million caper. The loss was noticed when the sommelier of the 442-year-old Tour d’Argent restaurant did an inventory of his 300,000 bottles and could have occurred anytime between 2020 and 2024. GZERO sends our condolences *hic* – we have no idea what happened *hic*. 🥴😬Polish truckers block several border crossings with Ukraine in protest at what they say is Ukrainian haulers' free rein in Poland that is hurting their business.
Hard Numbers: Truck backup at Polish border, Maldives says bye to India’s troops, Australia clinches Cricket World Cup, Swift postpones Rio show amid deadly heat
3,000: For the past 11 days, Polish truckers have blocked roads leading to three border crossings with Ukraine, protesting what they call “government inaction” over a loss of business to foreign competitors since Russia's 2022 invasion of Ukraine. Traffic is now backed up 30 kilometers on one of the routes, with an estimated 3,000 trucks waiting to cross.
75: The recently elected president of the Maldives, Mohamed Muizzu, formally asked India to withdraw its 75-person military contingent from the country. Muizzu won the presidential election in September on an “India Out platform” and is seen as more closely aligned with China.
6: On Sunday, Australia won a record-extending sixth Cricket World Cup against India with a six-wicket victory at Narendra Modi Stadium. Despite starting the tournament sidelined by a broken left hand, Australian player Travis Head scored 137 runs and was named man of the match, becoming only the seventh player to score a century in a men's World Cup final.
140: On Saturday, megastar Taylor Swift postponed her second concert in Rio de Janeiro, Brazil, after a 23-year-old woman died at her Friday show, apparently due to the sweltering combination of temperature and humidity, which felt like 140 degrees Fahrenheit, the highest index Rio has ever recorded. In a handwritten note shared on her social media, Swift said she had a “shattered heart.” “There's very little information I have other than the fact that she was so incredibly beautiful and far too young,” she wrote.
A general view of damage due to volcanic activity at a golf course, in Grindavik, Iceland Nov. 11, 2023.
Hard Numbers: Iceland's eruption alert, Scott's campaign ends, Myanmar junta's challenge, Japan's evacuation drill, Aussie's Tuvalu deal, Djibouti's first satellite
12: All eyes are on Iceland as the island nation braces for a volcanic eruption on a 12-mile stretch of the Reykjanes Peninsula. The town of Grindavik, population 3,000, has been evacuated after hundreds of earthquakes rattled the country within 48 hours and amid fears that it could be completely obliterated.
7: Sen. Tim Scott on Sunday suspended his campaign for the presidency just four days after the latest presidential debate in Miami and amid reported fundraising woes. Scott's departure leaves 7 contenders vying for the Republican presidential nomination.
50,000: A Myanmar fighter jet crashed Saturday near the country’s border with Thailand during fighting between military forces and the Karenni Nationalities Defense Force, who claimed responsibility for downing the plane. The ruling junta, installed after a 2021 coup, says the jet crashed due to a technical problem. The military is battling rebels on numerous fronts, including in Shan State on the border with China, where 50,000 people have fled since an anti-junta offensive was launched last month by three ethnic minority insurgent groups.
200: Japan held a tsunami evacuation drill on Yonaguni, its westernmost island, which sits just 68 miles from Taiwan. In anticipation of that country’s presidential elections in January and amid fears of Chinese aggression, Tokyo twinned the exercise with a drill to help residents respond to any attempt by Beijing to take control of Taiwan. About 200 Yonaguni officials and members of Japan's Self-Defense Force took part in the exercise.
280: Under a new treaty called the Falepili Union, Australia will grant 280 visas per year to residents of the low-lying island nation of Tuvalu, which is at risk from rising seas thanks to the effects of climate change. It marks the first time Australia has offered residency to foreign nationals based on this threat. The treaty also commits Australia to defend Tuvalu from military aggression and obliges Tuvalu to forgo other defense pacts unless it obtains Australia’s prior approval.
1A: In collaboration with engineers at the French Centre Spatial Universitaire de Montpellier, the African Republic of Djibouti launched its first satellite this weekend from the Vandenberg Space Force Base. Djibouti 1A will collect national, real-time data from climatological and seismic stations, including temperature, rainfall, river depth, and hydrometry, to help boost agricultural production and monitor environmental changes.
Australia's Prime Minister Anthony Albanese meets with China's President Xi Jinping at the Great Hall of the People in Beijing, China, November 6, 2023.
Are China-Australia ties boomeranging back?
Anthony Albanese is the first Australian prime minister to visit Beijing since 2016, as both sides signal their readiness to work on their long-running rift. At a meeting on Monday in the Great Hall of the People, Chinese President Xi Jinping said, “the China-Australia relationship has embarked on the right path of improvement and development” after years of trade spats and accusations of political meddling.
As the satirical Australian series “Utopia” illustrates, Canberra has to walk a fine line. China accounts for over a third of Australian trade, and is willing to use that leverage in political disputes. In 2020, when then-Prime Minister Scott Morisson called for an investigation of China’s role in the origin of the COVID-19 virus, Beijing slapped import restrictions on Australian agricultural products. Those remain in place, despite the thaw.
Australians clearly feel threatened by China, after allegations of political interference led Canberra to ban foreign political donations in 2017 and Huawei communications technology in 2018. In a poll this year, 75% of the population say they see China as a military threat in the coming years.
The visit with Albanese seems further proof Beijing has accepted that its aggressive diplomatic tack in the late 2010s was unsustainable. It also bodes well for the summit between Xi and President Biden at the Asia-Pacific Economic Cooperation meeting next week in San Francisco, though the Taiwanese elections in January still loom large in the US-China dynamic.