The search for the missing Malaysia Airlines flight MH370 will resume on December 30, more than 11 years after the aircraft disappeared, while Australia experiences a modest economic recovery driven by datacentre investments and increased household spending. Both developments highlight significant ongoing challenges in aviation accountability and economic stability.

Search for MH370 Resumes
The Malaysian transport ministry announced that the search for Malaysia Airlines flight MH370 will recommence this month, targeting areas in the Indian Ocean believed to have the highest likelihood of locating the missing aircraft. The US-based company Ocean Infinity will undertake the search over 55 days under a "no-find, no-fee" contract, which stipulates a payment of $70 million only if wreckage is discovered. Flight MH370 vanished on March 8, 2014, while en route from Kuala Lumpur to Beijing, carrying 12 crew members and 227 passengers from various countries. Families of the victims have long sought answers, and Danica Weeks, whose husband was on board, expressed gratitude for the renewed search efforts, hoping for clarity and peace.

Economic Growth in Australia
Australia's economy has shown signs of recovery, with real GDP expanding by 2.1% over the past year, up from 2% in June. Investment in datacentres, driven by the AI tech boom, and rising household spending on essentials have contributed positively. However, the quarterly growth rate of 0.4% fell short of the predicted 0.7%, and there was no increase in real GDP per capita when accounting for population growth. Despite these challenges, analysts noted that the economy is performing better than a year ago, when growth was only 0.8%. Belinda Allen from CBA highlighted the positive shift in household spending and business investment, although concerns remain about inflation and its impact on future growth.

Inflation and Economic Challenges
The Reserve Bank of Australia (RBA) faces the challenge of balancing economic growth with inflation, which rose to 3.8% in October, exceeding the target range of 2-3%. RBA Governor Michele Bullock indicated that the board will assess whether the inflation increase is temporary or indicative of more permanent pressures. Analysts predict that further rate cuts are unlikely, with the possibility of interest rate hikes on the horizon.

Investment Trends and Future Outlook
A significant factor in the recent economic performance has been a boom in business investment, particularly in datacentres across New South Wales and Victoria, which saw a quarterly growth of 2.9%. This investment surge contributed half a percentage point to overall economic growth. While productivity growth remains a challenge, the overall economic expansion marks the fastest annual pace in two years, according to Treasurer Jim Chalmers.

Wrap-up
As Malaysia prepares to renew its search for MH370, families of the victims hold onto hope for answers after years of uncertainty. Meanwhile, Australia's economy is gradually recovering, driven by strategic investments and increased consumer spending, though inflation poses a potential risk to sustained growth.

Sources
theguardian.com
newsis.com

@hoju-korean.com Editorial Team