Hong Kong was ravaged by the super typhoon Ragasa, which caused chaos and closures as wind speeds topped 200km/h. Streets were flooded and trees snapped.
While the US president Trump was at UN, he signaled that he would be pursuing a self-centered diplomacy. Tech giants have launched an AI drive worth $500 billion, while Asian markets began with a sharply reduced opening amid economic uncertainty.
Highlights of Wednesday’s major events.
Ragasa pounds Hong Kong
Hong Kong has been slammed hard by Super Typhoon Ragasa.
As schools were closed, planes were canceled and people ran to safety, the city quickly emptied.
Ragasa’s winds reached over 200km/h. Trees snapped and roofs were blown away. Flooding trapped cars, in areas that have experienced storm chaos before.
The emergency teams are stretched to the limit as they try and clear fallen debris, while also answering calls.
The danger doesn’t go away even after the typhoon has passed. Seas remain rough and flood dangers persist in some parts of the city.
The residents say that it is a reminder to them of how quickly life can change in this city when the typhoons hit.
The storm was more impactful than spectacular, and it’s no wonder Hong Kong is so serious about such events.
Trump signals ‘America first’ diplomacy
On Tuesday at the United Nations, US President Donald Trump said that America is moving away from the old model of international teamwork.
In a clear signal of a more aggressive stance towards cooperation, he emphasized that America was his priority.
Trump has taken a critical tone towards international organizations and alliances. He said that the US will no longer automatically participate in every global initiative.
The speech was a new beginning, where American sovereignty, economic security, and even some diplomatic cages were rattled.
As the world watches, there are still questions about what this means for global issues such as climate change and international trade.
It’s clear that Trump is looking to reset the clock, indicating that America will be taking more control of foreign policy in future. Click here to read the full report.
US Tech Giants Join Forces for $500 Billion AI Project
OpenAI, Oracle and SoftBank have joined forces to construct five new AI datacenters in the United States, as part of Stargate, their $500 billion ambitious project.
The goal of this venture is to boost computing power to drive cutting-edge AI technology like ChatGPT, autonomous vehicles and other technologies.
Data centers are being built in Texas, New Mexico and Ohio. Another Midwest location is yet to be announced.
This $500 billion investment is one of the biggest commitments made to AI infrastructure. It signals a bold move to keep the US at the forefront in the rapidly evolving AI race.
SoftBank’s financial power will speed the construction of the infrastructure.
These centers will create thousands of new jobs in the coming years. They are also expected to advance AI research across the country.
The Stargate project, according to experts, sets a standard in AI development by making advanced computing power available for startups and innovators outside of the technology giants. Click here to read the full report.
Asian markets plummet at opening
The Asian market opened in the red Wednesday morning, affected by Wall Street’s overnight losses as well as ongoing worries about inflation and central banks policies.
Japan’s Nikkei fell by nearly half of a percentage, due to weakness in the tech and export sector. South Korea’s Kospi 100 also followed this trend, amid sluggish investor sentiment.
The traders are cautious as they await the release of important economic data and continue to be wary of concerns about global growth, both of which keep their risk appetite under control.
Investors are on the defensive in the entire region, as they try to assess the effect of the recent Federal Reserve signalling and the volatile commodities prices. Click here to read the full report.
The post Morning Brief: Typhoon strikes Asia, Trump changes diplomacy and $500B AI Push may change as new developments unfold
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