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International Update Volume 47, Issue 24

SOUTH ASIA WEATHERING WORST MONSOON IN RECENT YEARS

India

No stranger to flooding, South Asia is struggling with one of the worst monsoons in recent history. Across India, Bangladesh, and Nepal, the death toll has risen above 1200. International aid agencies say things are worse this year, with thousands of villages cut off and people deprived of food and clean water for days. Farming has also collapsed due to flooding and a rise in unemployment is expected, according to a disaster management official in India. In Nepal, crops on 10,583 hectares have been washed away while another 600,587 hectares of farmland have been partially damaged.

MACAU CALLS IN ARMY TO DEAL WITH FLOODS FROM TYPHOONS

China

Chinese People's Liberation Army troops were deployed to Macau to assist with the clean up efforts after Typhoon Hato. Nearby Hong Kong shut down and closed financial markets ahead of Hato, yet Macau’s authorities failed to raise a sufficiently high typhoon warning. Hong Kong’s weather observatory said there were indications another storm could hit southern China in the next few days. For the full story see http://uk.reuters.com/article/us-asia-storm-macau-idUKKCN1B5066

CHILE LOOKS TO RESTART COBALT PRODUCTION AS PRICES CLIMB

Chile

Chile, the world's top copper-producing nation, is embarking on a fact-finding mission with the intention of restarting cobalt production after more than 50 years. Metals like lithium and copper are becoming a thing of the past as cobalt is a key component in the new breed of rechargeable batteries. The demand for cobalt is set to increase 34% until 2026 as electric cars gain a bigger share of the global car market. The cobalt market is currently dominated by the Democratic Republic of Congo, which has more than half of global production.