How Fast Can China Go?
On June 30, China had the first official run of a $32 billion high-speed train line between Shanghai and Beijing. "Faster (820 miles in 288 minutes) and sleeker than any other, the needle-nosed CRH380A symbolizes China’s accelerating pace, even as it faces questions about safety, and taps into an ancient rivalry with Japan." On page four, the article discusses what happened less than a month afterwards on July 23rd: the country's first accident involving a bullet train that killed 40 people near Wenzhou.
As a result, 54 high speed trains were recalled, train speeds were reduced
and an overhaul of the high-speed rail system
by Chinese authorities. [more inside]
flight 6560 crashed yesterday
in Canada's High Arctic. Fifteen passengers were on board, including four crew and eleven passengers
. All the crew members were killed in the crash, while three pasengers survived
The plane crashed five miles from the airport in Resolute
. Rescue efforts began immediately, as hundreds of military personnel were in Resolute participating in the annual Arctic military exercise Operation Nanook
, an operation which includes an exercise in which military personnel respond to a mock air disaster. As a result, military helicopters, medical personnel, Canadian Coast Guard, and local fire and medical crews were on site and ready to respond immediately.
There were more than 4 Crashes Today
as the world markets were hammered
. Percentage-wise, Germany is down 10, Paris down 7, London down almost 6, and similar catastrophic drops in the Americas
forced nearly all of the world's markets to close for the day early. I'm worried about the Hang Seng and Nikkei which open very soon. Hopefully the NYSE and Nasdaq will not open for a week or so to let cooler heads prevail.