Coronavirus scare looms over US mega toy show; China pavilion cancelled

The Chinese industry itself is normally a major presence at the show, with dozens of booths that are typically cloistered together.

There is no China Pavilion at this year's Toy Fair owing to the new coronavirus outbreak, and the travails of the world's second-biggest economy hang over the giant trade show.

Output in China -- by far the world's biggest maker of toys -- has slowed to a trickle as the country reels from a public health crisis that has already claimed nearly 2,600 lives and spread to dozens of countries, raising fears of a global pandemic.

As some 25,000 toy industry officials gather this week in New York for the largest toy show in the Americas held amongst a sea of stuffed animals, electronics and action figures, attendees are grappling with a considerably less cheerful topic: a deadly health crisis and its effect on the world's leading maker of consumer goods.

The hit has been mitigated somewhat for toys because it is taking place during a seasonal lull and not closer to the holiday shopping period, toy executives say.

Still, there is widespread worry and talk of item shortages as soon as this summer.

China manufactures about 85 percent of US toys, according to industry officials.

The virus "is going to have a major, major effect worldwide," said Isaac Larian, chief executive of MGA Entertainment, adding that he is currently drawing from about two months of inventory for his company's best-selling "LOL Surprise" dolls.

MGA depends on China for more than 85 percent of its production. The company's factories in the country are operating at only about 20 percent capacity, with many workers still away and other activity stymied by shortages of raw materials or transportation bottlenecks, Larian said.

Badminton world number 1 Momota hurt in Malaysia crash, driver dead: Report

The accident happened in the early hours on a major highway as the group headed for Kuala Lumpur International Airport in a van, official news agency Bernama reported.

Badminton world number one Kento Momota was among four people lightly injured in a crash in Malaysia on Monday which left their driver dead, reports said, hours after he won the Malaysia Masters tournament.

The accident happened in the early hours on a major highway as the group headed for Kuala Lumpur International Airport in a van, official news agency Bernama reported.

The vehicle crashed into the back of a lorry, which was travelling slowly, and the driver died at the scene, the agency said.

"The victim's body and all the injured were sent to" hospital in administrative capital Putrajaya, fire and rescue department senior official Norazam Khamis was cited as saying.

The fire and rescue department did not immediately respond to requests for comment and the identity of the others hurt was not immediately clear.

Kento Momota had been in Kuala Lumpur to take part in the Malaysia Masters badminton tournament.

He won easily on Sunday, defeating Denmark's Viktor Axelsen 24-22, 21-11 in a boost for his Tokyo Olympics preparations.

The 25-year-old Japanese enjoyed a stellar 2019, winning a record 11 titles including the World Championships, Asia Championships and All England Open.

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How Indian Ocean may play a lead role in world affairs in the future

There is also a strong economic and political logic to spotlighting the Indian Ocean as a key emerging region in world affairs.

In recent days, Australia’s foreign minister Marise Payne announced efforts to strengthen Australia’s involvement in the Indian Ocean region, and the importance of working with India in defence and other activities. Speaking at the Raisina Dialogue in Delhi – a geopolitical conference co-hosted by the Indian government – Payne said:

Our respective futures are intertwined and heavily dependent on how well we cooperate on the challenges and opportunities in the Indian Ocean in the decades ahead.

Among Payne’s announcements was A$25 million for a four-year infrastructure program in South Asia (The South Asia Regional Infrastructure Connectivity initiative, or SARIC), which will primarily focus on the transport and energy sectors.

She also pointed to increasing defence activities in the Indian Ocean, noting that in 2014, Australia and India had conducted 11 defence activities together, with the figure reaching 38 in 2018.(Business Standard)

Payne’s speech highlights the emergent power of the Indian Ocean region in world affairs. The region comprises the ocean itself and the countries that border it. These include Australia, India, Indonesia, Bangladesh, Madagascar, Somalia, Tanzania, South Africa, the United Arab Emirates and Yemen.

In terms of global political significance, the Atlantic Ocean can be viewed as the ocean of our grandparents and parents; the Pacific Ocean as the ocean of us and our children; and the Indian Ocean as the ocean of our children and grandchildren.

There is an obvious sense in which the region is the future. The average age of people in the region’s countries is under 30, compared to 38 in the US and 46 in Japan. The countries bordering the Indian Ocean are home to 2.5 billion people, which is one-third of the world’s population.

But there is also a strong economic and political logic to spotlighting the Indian Ocean as a key emerging region in world affairs and strategic priority for Australia.

Some 80% of the world’s maritime oil trade flows through three narrow passages of water, known as choke points, in the Indian Ocean. This includes the Strait of Hormuz – located between the Persian Gulf and the Gulf of Oman – which provides the only sea passage from the Persian Gulf to the open ocean.

The economies of many Indian Ocean countries are expanding rapidly as investors seek new opportunities. Bangladesh, India, Malaysia and Tanzania witnessed economic growth in excess of 5% in 2017 – well above the global average of 3.2%.

India is the fastest growing major economy in the world. With a population expected to become the world’s largest in the coming decades, it is also the one with the most potential.