The world is witnessing significant upheaval as leaders discuss the future of trade at the APEC summit, devastating hurricanes wreak havoc in the Caribbean, and political movements gain momentum in Serbia and the UK. Meanwhile, ongoing conflicts in Ukraine and natural disasters in the United States and Asia highlight the urgent need for humanitarian responses.

APEC Summit and Trade Dynamics

At the APEC summit in Gyeongju, South Korea, Canadian Prime Minister Mark Carney declared the end of the era of free trade and investment that has characterized the global economy since World War II. He emphasized that the traditional model of rules-based trade is no longer viable amid profound global changes. Carney announced Canada's intention to diversify its trade relationships, particularly with China, as he engaged in discussions with Chinese President Xi Jinping, who expressed a desire to restore positive relations between the two nations. The summit also featured Xi defending free trade against rising protectionist sentiments, notably from the United States.

Hurricane Melissa's Destruction

Hurricane Melissa has left a trail of destruction across the Caribbean, first making landfall in Jamaica as a category 5 storm. The hurricane caused extensive damage, with 90% of homes in Black River reported destroyed and at least 19 fatalities confirmed. The storm continued to affect Cuba and Haiti, where flash floods and landslides resulted in additional casualties. As Melissa moves towards Bermuda and the Bahamas, it is expected to weaken into a post-tropical system. Concurrently, Cyclone Montha has impacted southeastern India, leading to significant flooding and evacuations, while Vietnam faces severe flooding due to torrential rains.

Ukraine Conflict Escalates

Ukraine reported renewed Russian attacks, including strikes on the northeastern city of Sumy that injured at least 11 people. The UN humanitarian coordinator for Ukraine warned of the increasing severity of the conflict, noting that this year has seen a 30% rise in civilian casualties. The humanitarian situation is dire, with critical infrastructure, including healthcare facilities, under constant threat from Russian bombardments. The winter months pose additional risks, particularly for residents in frontline cities lacking basic utilities.

Political Movements in Serbia and the UK

In Serbia, students continue to mobilize in response to the tragic collapse of a railway station canopy that killed 16 people last year. As they march towards Novi Sad, their demands have evolved to include calls for snap parliamentary elections. The movement reflects a broader discontent with the current government led by President Aleksandar Vučić. Meanwhile, in the UK, former Prince Andrew has been stripped of his royal titles, marking a significant moment in the ongoing discourse about the monarchy and accountability. MP Zarah Sultana, who recently left the Labour Party to form a new political group, expressed ambitions to replace Labour and reshape leftist politics in the UK.

Housing Market Trends in the UK

In the UK, house price growth has slowed, with analysts attributing the trend to buyers hesitating ahead of an upcoming budget that may introduce new property taxes. The average house price rose by only 0.3% in October, reflecting cautious consumer sentiment. Despite this, the housing market remains resilient, with continued demand for properties, particularly in the lower price brackets. The Bank of England's recent interest rate cuts are expected to support housing affordability in the coming months.

Natural Disasters in the US

In New York City, a severe rainstorm resulted in two fatalities as flooding overwhelmed basements. The storm caused significant disruptions, including road closures and airport delays, with record rainfall recorded in several areas. Mayor Eric Adams highlighted the inadequacy of the city's sewer systems to handle such intense rainfall, echoing concerns raised during previous flooding events.

Wrap-up

The convergence of natural disasters, political movements, and shifting trade dynamics underscores the complexity of the current global landscape. As nations grapple with these challenges, the need for effective leadership and humanitarian responses becomes increasingly urgent.

Sources
theguardian.com
newsis.com
reuters.com
abcnews.go.com
bbc.com

@hoju-korean.com Editorial Team