Submitted by Gene Howington, Guest Blogger
The July 24th catastrophic crash of a high speed train in Wenzhou, eastern China, made world wide headlines. The dead and injured totals as of today, July 30th, stand at 40 dead and 192 injured although earlier reports indicated as many as 210 injured including 2 foreigners. The cause of the accident is still under investigation, but the preliminary facts indicate that train D301 in service from Beijing South Station to Fuzhou (in Fujian province) and train D3115 in service from Hangzhou to Fuzhou, were derailed when D301 struck the stationary D3115 at around 8:30pm local time. Although both trains are limited to traveling at a maximum of 250km/h (~155 mph), it is uncertain how fast D301 was moving at the time of the accident.
This is more than just a human tragedy for China, but possibly an economic tragedy as well. With China looking to compete globally to sell high speed rail systems that are going to become increasingly important to countries around the world as fuel prices rise, their systems have been plagued by unstable performance and this crash caused the stock of state owned CSR Corporation to plummet 14 points on the Hong Kong Stock Exchange. Although CSR is technically the world’s largest manufacturer of high speed rail equipment, it faces stiff competition from German and Japanese manufacturers who have more mature and refined products. While none of this is unfamiliar to anyone who has followed businesses in the wake of a disaster in the West, what is unusual is what happened next.
Lawyers were told not to take plaintiff’s cases related to the rail accident.
Norwegian television has identified a suspect in the shooting spree on the island Utoya as Anders Behring Breivik, 32, describing him as a member of “right-wing extremist groups in eastern Norway.” The shooting at the youth camp has reportedly resulted in more than 80 deaths.
