Erudite Risk

On August 27, many areas continued to have heavy to very heavy rain. On August 27, several regions experienced heavy to very heavy rain. The North Central and Northern regions recorded rain amounts ranging from 10 to over 50 mm, with certain areas exceeding 80 mm. In the South Central region, rainfall between 15 to 30 mm was reported, with local areas surpassing 80 mm. Notable rainfall amounts from August 26 included over 100 mm in places like Kai and Ken U. The National Meteorological Center issued warnings for continued rain, predicting accumulations of 10 to 30 mm, with some spots exceeding 50 mm. Risk of landslides and flooding was noted in multiple districts across various provinces. The South Central region, including the Spratly Islands, is also expected to see persistent rain and is under consideration for storm conditions. Temperature forecasts ranged from 19 to 37 degrees Celsius across different regions, with the likelihood of adverse weather conditions, including thunderstorms and strong winds. #AsiaRisk #ExtremeWeatherEvents #Vietnam Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gkFvEFNd

At least 26 people have died due to devastating floods in Tripura, affecting an estimated 1.7 million people, with 137,000 rendered homeless. Union Home Minister Amit Shah has assured the state's Chief Minister, Manik Saha, that a central team will be sent to assess the damage. Saha stated the state would present an accurate assessment of the devastation when the team arrives. Financial support has been provided to the state, including Rs 10 crore from UP Chief Minister Yogi Adityanath and Rs 20 crore from the Madhya Pradesh government for restoration efforts. Assessments of damage are being conducted by district magistrates, with estimated losses around Rs 15,000 crore. Although water levels have receded, about 70,000 people remain in 471 relief camps. #AsiaRisk #NaturalDisasters #India Follow us for daily updates on risk and operations in Asia! https://lnkd.in/g9UN8BnU

Behind the inquiry of Xinmai Medical by the Medical Insurance Bureau, 11 stent companies promised to reduce prices On August 20, 2024, the National Healthcare Security Administration announced that 11 medical companies, both domestic and foreign, had reduced the prices of thoracic aortic stent grafts following an inquiry prompted by public complaints regarding pricing anomalies. The price adjustments, which require implementation by August 22, are part of a broader effort to regulate costs and prevent excessive pricing in the medical supply chain. The new prices will not exceed 80,000 yuan per stent, significantly lower than previous prices exceeding 100,000 yuan. Mindray Medical, a leading Chinese manufacturer, did not participate in the price reductions. The inquiry also specifically targeted Sinovac Biotech's Castor thoracic aortic stent, which had a discrepancy between its ex-factory price of about 50,000 yuan and a hospital price of over 120,000 yuan. The National Medical Insurance Administration has requested transparency regarding pricing and sales practices from Sinomed, the parent company of Sinovac, as part of its effort to curb unjustified price hikes due to intermediaries and marketing practices. The inquiry highlights the ongoing move to centralized procurement as a method to "squeeze out water" or reduce inflated prices for higher-value medical consumables. Historical comparisons demonstrate that significant price cuts have occurred in other medical categories, indicating a trend towards similar adjustments for aortic stents. Sinomed has been preparing for centralized procurement, having already expanded its overseas markets despite the challenges. The National Medical Insurance Administration plans to continue monitoring and regulating pricing behavior in the sector moving forward. #AsiaRisk #Regulation #China Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gVRPxt_U

On the night of August 26, there was rain nationwide, with localized heavy rain of over 80mm. On the night of August 26, heavy rain was reported nationwide, with localized rainfall exceeding 80mm in some areas. The Northwest region experienced scattered showers and thunderstorms, while the Northeast and North Central regions had similar weather with rainfall reaching up to 50mm. The South Central, Central Highlands, and Southern regions faced heavy rain, with some areas seeing over 80mm. Key locations recorded significant rainfall, such as Ta Khoa (Son La) with 133.2mm and Tuc Dan 2 (Yen Bai) with 146.4mm. Authorities warned of flash flood risks in small rivers and landslides on steep slopes, especially in the Northern provinces and Central Highlands. Additionally, a heat wave was expected in the Central region on August 27-28, with temperatures possibly exceeding 37°C. Meteorologists noted that perceived temperatures could be 2-4 degrees Celsius higher due to surface conditions. A risk of explosions, fires, dehydration, and heat-related illnesses was also highlighted. In the Central and Southern East Sea, showers and thunderstorms were forecasted, with warnings of potential tornadoes and strong winds. Sea conditions were predicted to be rough, affecting vessels in the area. The weather forecast outlined varied conditions across regions, including thunderstorms, sunny intervals, and temperatures ranging from 19 to 37 degrees Celsius, depending on the area. #AsiaRisk #ExtremeWeatherEvents #Vietnam Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gBdkTiUT

Mortality rate 30%! Rare virus, surprise attack! A rare and deadly virus, Eastern equine encephalitis (EEE), has been reported in Massachusetts with a mortality rate of approximately 30%. Four towns—Douglas, Oxford, Sutton, and Webster—are under nighttime lockdowns to prevent the virus's spread. The Massachusetts Department of Public Health confirmed a man in his 80s is hospitalized due to EEE, marking the first human case in the state since 2020. Symptoms include fever, headache, and seizures, with many survivors suffering long-term neurological issues. There is no specific treatment or vaccine for EEE. Health officials urge precautions against mosquito bites, especially during peak activity times, and will be spraying insecticides in affected areas. The outbreak coincides with a longer mosquito breeding season linked to climate change, raising concerns for potential increased disease outbreaks. The CDC has recorded instances of EEE in Massachusetts, Vermont, and New Jersey this year. #AsiaRisk #EpidemicsandPandemics #China Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gfhmmcQy

Japan has condemned a recent airspace violation by a Chinese military spy plane, labeling it an unacceptable breach of sovereignty that poses a security threat. Chief Cabinet Secretary Yoshimasa Hayashi emphasized the seriousness of the incident, which marked the first such violation by a military aircraft. Japan's military detected a Chinese Y-9 reconnaissance plane circling the Danjo Islands, prompting the scramble of fighter jets to address the incursion. Additionally, Japan summoned the acting Chinese Ambassador to lodge a formal protest and urged China to prevent future violations. The Japanese government continues to monitor Chinese military activities and is concerned about increased cooperation between Chinese and Russian forces. The two nations are also engaged in a long-standing dispute over the Senkaku Islands, known as Diaoyu in China, and China is asserting claims in the South China Sea. #AsiaRisk #GeopoliticalConflictandDisputes #China Follow us for daily updates on risk and operations in Asia! https://lnkd.in/giWvMSwB

The mayor of Iwakuni, Yamaguchi Prefecture, has approved the deployment of the U.S. Navy's CMV-22 Osprey transport aircraft, despite existing safety concerns regarding the tilt-rotor aircraft. This will mark the first deployment of CMV-22s in Japan, serving as replacements for aircraft on the U.S. nuclear-powered carrier Ronald Reagan, which is being replaced by the George Washington carrier. Mayor Yoshihiko Fukuda expressed confidence in the aircraft's safety, citing assurances from both the Japanese and U.S. governments. He noted that the noise levels around U.S. Marine Corps Air Station Iwakuni are not expected to change significantly due to a reduction in the number of aircraft. The decision follows the U.S. government's plan communicated in July to station CMV-22s, and local government consent is not required for deployment. The article highlights the Ospreys' history of accidents, including a recent fatal crash involving a CV-22, which led to a worldwide grounding of Ospreys by the U.S. military. An investigation revealed that the crash was due to a gearbox failure and poor decision-making during a routine exercise, but Japanese officials have reassured that there are no structural defects with the aircraft. #AsiaRisk #GeopoliticalConflictandDisputes #Japan Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gm_qsxQW

President Yoon Suk Yeol called for enhanced cybersecurity measures to protect national security from state-sponsored hacking attacks during the International Symposium on Cybercrime Response in Seoul. He addressed the threats posed by these organizations, particularly in reference to North Korea, and emphasized the challenges posed by rapid technological advancements, including artificial intelligence. Yoon highlighted the importance of training elite cybersecurity professionals and developing technologies in collaboration with the international community. Additionally, he urged increased efforts to combat digital sex crimes, particularly those involving AI-generated deepfake content, which have recently become prevalent. The presidential office had previously outlined a national cybersecurity strategy to proactively address threats, including those related to cryptocurrency theft linked to North Korea's missile and nuclear programs. #AsiaRisk #CyberAttacksandDataLoss #SouthKorea Follow us for daily updates on risk and operations in Asia! https://lnkd.in/g8CnnDbQ

The Ministry of Education and Training has opened a public comment period for draft regulations on private tutoring, aiming to replace 2012 guidelines. The proposed changes allow teachers to tutor their own students outside school with oversight but have drawn mixed reactions. Critics argue this practice could lead to favoritism, exacerbate inequality, and place additional pressure on students and families. Supporters contend that private tutoring addresses genuine needs and can benefit both students and teachers. The Ministry emphasizes that the focus is on preventing coercive practices rather than banning tutoring outright and seeks to establish regulations that ensure teachers report their tutoring activities and do not coerce students into attending. The Minister acknowledged the demand for private tutoring but noted the lack of legal frameworks to manage it, expressing hope that local agencies will help regulate these activities. #AsiaRisk #Regulation #Vietnam Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gtX54gZE

Young Koreans are increasingly focusing on investment as a means to secure their financial future, driven by concerns over economic stability and the traditional reliance on salary alone. Many, like 26-year-old Choi Hui-ji, aim to save a substantial portion of their income, with a significant investment in overseas exchange-traded funds. The trend highlights a shift in attitudes, where financial discussions among peers have moved from casual topics to investment strategies. Factors promoting this trend include the relaxation of investment barriers through government initiatives, such as tax benefits for individual savings accounts, and a growing awareness of the need for financial independence, particularly amidst anxiety about pensions and retirement. However, the rise in investment interest has also led to speculation, as many young investors lack sufficient financial knowledge, often turning to informal sources like YouTube for guidance. This has resulted in a notable increase in personal rehabilitation filings among young investors. Research indicates a societal divide among youth between those who can invest and those who struggle to do so, reflecting broader concerns about economic mobility and stability in South Korea, which contrasts with more robust social safety nets found in Northern Europe. #AsiaOperations #Demographics #SouthKorea Follow us for daily updates on risk and operations in Asia! https://lnkd.in/g3NvZ9Yi