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Asia-Pacific Report with Sanusha Naidoo – 10 November 2022

Mumtaz Mia| Miamumtaz08@gmail.com
2 min read | 11:15

A survey by the Hurun Research Institute indicates that a third of 750 high-net-worth Chinese with average assets of $5.8 million were considering emigrating. China’s wealthy are concerned about diminishing assets, and many are considering moving abroad.

As a result of losing assets in the slumping real estate market and repeated COVID-19 lockdowns, anxiety is spreading among China’s wealthy over the policy direction President Xi Jinping’s government is taking.

Xi’s keynote political report to the 20th party congress signalled more robust regulations to distribute China’s rapid development spoils evenly. A more comprehensive array of taxes is expected to support low-income families and bolster the social safety net, while wealthy Chinese could face a rocky road ahead.

A powerful 6.6-magnitude earthquake struck the remote mountainous region of western Nepal early Wednesday, killing at least six people and injuring eight others.

The earthquake struck at 02:12 (local time), with its epicentre at Khaptad National Park in the Doti district of the quake-prone Himalayan nation, causing damage to numerous homes and alarming the sleeping population.

Officials arranged appropriate and immediate treatment for injured people by carrying out rescue operations. More than 200 aftershocks of the Doti earthquake have been recorded. A 5.7-magnitude tremor was recorded at 9.07 pm and a 4.1-magnitude quake at 21.56 on Tuesday at the exact epicentre.

The Kathmandu Valley and nearby districts also felt the earthquake, with no reports of damage or injuries.

Over the weekend, thousands of Twitter employees were laid off as Elon Musk took over the company. These included some of Twitter’s most senior executives, including the CEO.

Twitter’s workforce of approximately 200 employees in India was reduced to around 12. Employees in the product and engineering departments were impacted by about 70% of layoffs in India. About 140 of roughly 200 employees, including marketing, corporate communications, and public policy staff, were axed.

Terminated almost a week after Musk’s acquisition, some Twitter employees were prevented from accessing their work laptops, emails, and Slack accounts before being informed that their employment had been terminated.

Listen to the interview on Sabahul Muslim with host Sulaiman Ravat and guest Sanusha Naidoo, foreign policy analyst with the Institute for Global Dialogue.

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