More than 500 injured after fire breaks out following explosion in Taiwan water park

Apr 12: India and other South Asian countries are likely to record their worst growth performance in four decades this year due to the coronavirus outbreak, the World Bank said on Sunday.

The South Asian region, comprising eight countries, is likely to show economic growth of 1.8 per cent to 2.8 per cent this year, the World Bank said in its South Asia Economic Focus report, well down from the 6.3 per cent it projected six months ago.

India's economy, the region's biggest, is expected to grow 1.5 per cent to 2.8 per cent in the fiscal year that started on April 1. The World Bank has estimated it will grow 4.8 per cent to 5 per cent in the fiscal year that ended on March 31.

"The green shoots of a rebound that were observable at the end of 2019 have been overtaken by the negative impacts of the global crisis," the World Bank report said.

Other than India, the World Bank forecast that Sri Lanka, Nepal, Bhutan and Bangladesh will also see sharp falls in economic growth.

Three other countries - Pakistan, Afghanistan and the Maldives - are expected to fall into recession, the World Bank said in the report, which was based on country-level data available as of April 7.

Measures taken to counter the coronavirus have disrupted supply chains across South Asia, which has recorded more than 13,000 cases so far - still lower than many parts of the world.

India's lockdown of 1.3 billion people has also left millions out of work, disrupted big and small businesses and forced an exodus of migrant workers from the cities to their homes in villages.

In the event of prolonged and broad national lockdowns, the report warned of a worst-case scenario in which the entire region would experience an economic contraction this year.

To minimize short-term economic pain, the Bank called for countries in the region to announce more fiscal and monetary steps to support unemployed migrant workers, as well as debt relief for businesses and individuals.

India has so far unveiled a $23 billion economic plan to offer direct cash transfers to millions of poor people hit by its lockdown. In neighbouring Pakistan, the government has announced a $6 billion plan to support the economy.

"The priority for all South Asian governments is to contain the virus spread and protect their people, especially the poorest who face considerable worse health and economic outcomes," said senior World Bank official Hartwig Schafer.

Washington, Jun 18: US Defence officials are concerned over China's use of COVID-19 situation to gain stakes in strategically important companies of United States as the impact of novel coronavirus has left several companies in dire need of capital.

Amid the pandemic, it getting hard for the defence department to keep an eye on national security and help protect smaller companies down the chain, CNN reported.

"We are paying close attention to any indicators that China is leveraging Covid-19 to take advantage of a situation where defence companies need capital more than ever," a defence official told CNN.

In April, Ellen Lord, undersecretary of defence for acquisition and sustainment said it is paying close attention to 'adversaries' against the 'economic warfare' with the United States.

"We have to be very, very careful about the focused efforts some of our adversaries have to really undergo sort of economic warfare with us, which has been going on for some time," Ellen Lord, undersecretary of defence for acquisition and sustainment was quoted as saying by CNN.

US Committee on Foreign Investment protects its interest against hostile countries gaining ownership in strategically important companies. But the pandemic is changing the definition of national security concerns to include drugs, protective gear and medical supplies.

"These are now national security needs and we probably should have been thinking about it a long time ago in terms of biowarfare that we should have a trusted industrial base or a set of trusted allies -- the UK, or NATO allies or Japan or Korea -- who are trusted in that regard," Bill Greenwalt, a former Pentagon official.

Give the threat posed by foreign acquisition, Pentagon has been offering tools to help small US businesses defend themselves against adversarial investment and conducting background checks with other government agencies to ensure transparency.

US President Donald Trump's trade adviser Peter Navarro recently told CNN if Trump wins reelection, Washington DC will likely take offshore supply chains as national security priorities.

"If we fail to do that in the face of this crisis, we will have failed this country and all future generations of Americans," Navarro said.

The US State Department has also warned US allies to "avoid economic overreliance on China" and "guard their critical infrastructure" from China's influence.

Chad P Bown, a senior fellow at the Peterson Institute for International Economics, pointed to recent China's economic coercion of Australia on the political matter saying, "this is how China operates and everybody knows it."

Beijing, Feb 18: Police in China have arrested a prominent activist who had been a fugitive for weeks and criticised President Xi Jinping's handling of the coronavirus epidemic while in hiding, a rights group said Tuesday.

Anti-corruption activist Xu Zhiyong was arrested on Saturday after being on the run since December, according to Amnesty International.

China's ruling Communist Party has severely curtailed civil liberties since Xi took power in 2012, rounding up rights lawyers, labour activists and even Marxist students.

The death this month of a whistleblowing doctor who was reprimanded by police for raising the alarm about the deadly new virus before dying of it himself triggered rare calls for political reform and freedom of speech.

The "Chinese government's battle against the coronavirus has in no way diverted it from its ongoing general campaign to crush all dissenting voices," said Patrick Poon, China researcher at Amnesty International, in an emailed statement.

Another source, who spoke to news agency on the condition of anonymity, said Xu had been arrested in the southern city of Guangzhou.

Guangzhou police did not respond to requests for comment.

Xu went into hiding after authorities broke up a December gathering of intellectuals discussing political reform in the eastern coastal city of Xiamen in Fujian province, prior to the coronavirus crisis.

Over a dozen lawyers and activists were detained or disappeared after the Xiamen gathering, according to rights groups -- and Xu's detention appears linked to his presence at the meeting, explained Poon.

But while on the run, Xu continued to post information on Twitter about rights issues.

On February 4 Xu released an article calling on Xi to step down and criticised his leadership across a range of issues including the US-China trade war, Hong Kong's pro-democracy protests and the coronavirus epidemic, which has now killed nearly 1,900 people.

"Medical supplies are tight, hospitals are filled with patients, and a large number of infected people have no way to be diagnosed," he wrote. "It's a mess."

"The coronavirus outbreak shows just how important values like freedom of expression and transparency are -- the exact values that Xu has long advocated," Yaqiu Wang, China researcher at Human Rights Watch, told news agency.

But the disappearance of Xu illustrates how the Chinese state "persists in its old ways" by "silencing its critics", she said.

Xu -- who founded a movement calling for greater transparency among high-ranking officials -- previously served a four-year prison sentence from 2013 to 2017 for organising an "illegal gathering".

"That he was a fugitive for so many days while continuing to speak out, that in itself was... a kind of challenge to (Chinese authorities)," said Hua Ze, a long-time friend of Xu who told AFP she lost contact with the Chinese activist on Saturday morning.