India, Pak ink visa pact; but concern on terror remains

Paris, Mar 2: A global agency says the spreading new virus could make the world economy shrink this quarter, for the first time since the international financial crisis more than a decade ago.

The Organization for Economic Cooperation and Development says Monday in a special report on the impact of the virus that the world economy is still expected to grow overall this year and rebound next year.

But it lowered its forecasts for global growth in 2020 by half a percentage point, to 2.4 per cent, and said the figure could go as low as 1.5 per cent if the virus lasts long and spreads widely.

The last time world GDP shrank on a quarter-on-quarter basis was at the end of 2008, during the depths of the financial crisis. On a full-year basis, it last shrank in 2009.

The OECD said China's reduced production is hitting Asia particularly hard but also companies around the world that depend on its goods.

It urged governments to act fast to prevent contagion and restore consumer confidence.

The Paris-based OECD, which advises developed economies on policy, said the impact of this virus is much higher than past outbreaks because "the global economy has become substantially more interconnected, and China plays a far greater role in global output, trade, tourism and commodity markets."

Washington, Jan 2: The number of people killed in large commercial airplane crashes fell by more than 50% in 2019 despite a high-profile Boeing 737 MAX crash in Ethiopia in March, a Dutch consulting firm said on Wednesday. Aviation consulting firm To70 said there were 86 accidents involving large commercial planes - including eight fatal incidents - resulting in 257 fatalities last year. In 2018, there were 160 accidents, including 13 fatal ones, resulting in 534 deaths, the firm said.

To70 said the fatal accident rate for large airplanes in commercial passenger air transport was just 0.18 fatal accident per million flights in 2019, or an average one fatal accident every 5.58 million flights, a significant improvement over 2018. The fatality numbers include passengers, air crew such as flight attendants and any people on the ground killed in a plane accident

Large passenger airplanes in the study are aircraft used by nearly all travelers on airlines worldwide but excludes small commuter airplanes in service, including the Cessna Caravan and some smaller turboprop airplanes, according to To70.

On Dec. 23, Boeing's board said it had fired Chief Executive Dennis Muilenburg after a pair of fatal crashes involving the 737 MAX forced it to announce it was halting output of its best-selling jetliner. The 737 MAX has been grounded since March after an October 2018 crash in Indonesia and the crash of a MAX in Ethiopia in March killed a total of 346 people.

To70 said the aviation industry spent significant effort in 2019 "focusing on so-called 'future threats' such as drones." But the MAX crashes "are a reminder that we need to retain our focus on the basics that make civil aviation so safe: well-designed and well-built aircraft flown by fully informed and well-trained crews."

The Aviation Safety Network said on Wednesday that, despite the MAX crash, 2019 "was one of the safest years ever for commercial aviation." The 157 people killed in March on Ethiopian Airlines Flight 302 accounted for more than half of all deaths last year worldwide in passenger airline crashes.

Over the last two decades, aviation deaths around the world have been falling dramatically even as travel has increased. As recently as 2005, there were 1,015 deaths aboard commercial passenger flights worldwide, the Aviation Safety Network said.

Last week, 12 people were killed when a Fokker 100 operated by Kazakh carrier Bek Air crashed near Almaty after takeoff. In May, a Russian Sukhoi Superjet 100 aircraft caught fire as it made an emergency landing at Moscow’s Sheremetyevo airport, killing 41 people.

The figures do not include accidents involving military flights, training flights, private flights, cargo operations and helicopters.

Washington, Apr 11: China is considered a developing country, make the United States too a developing one, US President Donald Trump said on Friday, alleging that Beijing has taken advantage of his country.

"China has been unbelievably taken advantage of us and other countries. You know, for instance, they are considered a developing nation. I said well then make us a developing nation too,” Trump told reporters at his daily White House news conference on coronavirus.

The president was responding to a question on China.

“They get big advantages because they are a developing nation. India, a developing nation. The United States is a big developed nation. Well, we have plenty of development to do,” he said.

Reiterating that United States was taken advantage of by the World Trade Organization, Trump said the Chinese economy started booming after it joined WTO with the help of the US.

“If you look at the history of China, it was only since they went into the WTO that they became a rocket ship with their economy. They were flatlined for years and years,” he said.

“Frankly, for many, many decades. And it was only when they came into the WTO that they became a rocket ship because they took advantage of all -- I'm not even blaming them. I'm saying how stupid were the people that stood here and allowed it to happen,” he said.

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The Trump Administration will now allow that to happen, he said.

“If they don't treat us fairly, will leave. But now we're starting to win cases,” he said.

Alleging that China has taken advantage of the United States for 30 years, he said, China has taken advantage of the US through WTO and using rules that are unfair to the United States.

"They should have never been allowed it, this should have never been allowed to happen", he added.

“When China joined and was allowed to join under those circumstances the WTO, that was a very bad day for the United States because they have rules and regulations that were far different and far easier than our rules and regulations,” he said.

“Plus. They took advantage of them down to the last. China took advantage of them like few people would even think to take advantage of them and again they are considered right a developing nation,” he added.

The United States, he rued, is not considered a developing nation.

“The were given advantages (for being a developing nation). For many years China has ripped off the United States. Then I came along and right now, as you know, China is paying 25 percent," said Trump, adding that the US is now gaining "billions and billions and billions of dollars in tariffs from China”.

The US is not paying, he asserted.

“Not every country is China but China would devalue their currency and they would also pour out money and they essentially were paying most of those tariffs not us,” he said.