Headlines

Is China sleepwalking down Japan’s zombie economy path?

The photo above is not from China; it’s from Japan. In the 1970s, Daiei was Japan’s top retailer. But after Japan’s asset bubble burst around 1990, it became Japan’s most famous “zombie” company — staggering along unprofitably, kept afloat by a constant stream of

Asia

Russian Tu-22M3 bomber crashes during training flight

Russian Tu-22M3 strategic bomber has crashed in the Irkutsk region during a training flight, amid reports of engine failure. The Defence Ministry said it was not carrying weapons and the crew ejected safely. Four people were taken to hospital.