World News Thread & Breaking News!!

[SamuraiBlue]

Given the size of Chinese economy compared to rest of BRCIS, it's not hard to see China will try to take a leading role in the BRCIS. In transactions involving fully fungible products such as commodities, buyers have large bargaining power. China has enormous appetite for natural resources so if China wanted to settle parts of its commodities deals using RMB with Brazil, Russia, South Africa. Are they just going to refuse? The same logic can be applied to non-US western firms. If there's profit to be made, are they going to refuse good deals because parts of profit are in RMB not in us dollars. In other words, don't expect too much loyalty to us dollar from the rest of the world.

It looks as if you do not understand how supply and demand works nor how an equal powered voting committee works either.

If the commodities in question is rare and supply is rare then the one who sells have dictates the details not the buyer. As for power struggle within the newly established international bank, well we'll have to wait and see how it works.

 

[texx1]

It looks as if you do not understand how supply and demand works nor how an equal powered voting committee works either.

If the commodities in question is rare and supply is rare then the one who sells have dictates the details not the buyer. As for power struggle within the newly established international bank, well we'll have to wait and see how it works.

BRICS development bank has an equal powered voting committee. It doesn't mean influences within BRCIS are equally shared by participants. It's hard to believe South Africa enjoys the same amount of influence as China or Russia.

As for supply and demand, sellers have bargaining power only in the case of rare and niched products, products that cannot be found somewhere else. Commodities by definition are not rare with many different producers. The only commodity that sellers might enjoy bargaining power over buyers is probably rare earth metals, something China itself exports in great quantities.

And I agree with the sentiment that developments within BRCIS and its bank would capture a great deal of interest in the foreseeable future.

 

[delft]

Another air crash:

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24 July 2014 Last updated at 11:01 GMT
Algeria airliner missing on Sahara route from Burkina Faso

Algeria's national airline, Air Algerie, says it has lost contact with one of its planes flying from Burkina Faso to Algiers across the Sahara.

Contact was lost about 50 minutes after take-off from Ouagadougou, the airline said.

The passenger airliner was last seen at 0155 GMT, it added. It should have landed at 0510.

Flight AH 5017 had 110 passengers and six crew on board, Spanish airline Swiftair, which owns the plane, said.

"In keeping with procedures, Air Algerie has launched its emergency plan," Air Algerie officials, quoted by APS news agency (in French), said.

'Poor visibility'

The plane is operated by Air Algerie and chartered from Swiftair.

In a statement (in Spanish), Swiftair said that the aircraft was an MD83 and that they were unable to establish contact with the plane.

An Algerian official had previously told Reuters that the plane was an Airbus A320.

An unnamed Air Algerie company source, speaking to AFP news agency, said: "The plane was not far from the Algerian frontier when the crew was asked to make a detour because of poor visibility and to prevent the risk of collision with another aircraft on the Algiers-Bamako route."

"Contact was lost after the change of course."

Flight AH 5017 flies the Ouagadougou-Algiers route four times a week, AFP reported.

Algerian nationals were among those on board, Algerian newspaper El-Nahar reported.

Addenda: The website of my favorite broadcaster says that according to CCTV the aircraft crashed in Niger, very far from the intended route.

 

[PanAsian]

A lot of suspicious business going on with decent sized commercial aircraft this year.

 

[TerraN_EmpirE]

No consistency on types or makes, its just bad statistics.

 

[solarz]

Wow, this is a bad year for flying...

Really, really bad year...

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[delft]

An article about the US practice of collecting everything about people who are terrorists, who might be terrorists &c to people who might have met someone who might become a terrorist, from WaPo!:

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I think its too long to copy but do take a look. Just one example:

In 2004, Sen. Ted Kennedy complained that he was barred from boarding flights on five separate occasions because his name resembled the alias of a suspected terrorist.

 

[Bernard]

Really, really bad year...

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Yes, I agree. Just hope that things don't get worse around the world

 

[no_name]

There was also a smaller aircraft crash from Taiwan due to bad weather with 40+ lives lost.

 

[Air Force Brat]

There was also a smaller aircraft crash from Taiwan due to bad weather with 40+ lives lost.

as well as the young Pakistani lad named Haris, who was flying his Dad's Bonanza around the world with his Dad, they crashed the other night, shortly after take-off, just tragic.