New Zealand to Ban Foreign Home Buyers

Buyer beware. If you were considering purchasing a home away from home in New Zealand, that soon will be impossible. This was announced by their Prime Minister-Elect Jacinda Ardern on Tuesday.

She stated that this will only be applying to non-residents of the country, and only applying to the purchase of existing homes. Non-residents who already own property in the country will not be affected as of right now, but the future of their homes is unknown. 

This is being done as a way to combat the shortage of homes in the larger cities and lower the prices of homes. The law is coinciding with another law on immigration to slow it down to help bring jobs back into their economy, thus allowing more New Zealanders to purchase homes.


Source: http://www.bbc.com/news/business-41745129 

Australian Citizenship Bill Stalled

Back in April, the Australian government made some changes in the requirement of attaining citizenship; these changes would make the process harder to get citizenship. One of the new requirements was to have advanced English language skills so that the individual would better "integrate" into society. Another is to show proof of being a permanent resident for at least four years and can show that they are a member of the community. As of today, the new bill has faced some backlash and is currently being revised in hopes of getting passed in the future.

Source:
Australia citizenship overhaul hits Senate hurdle. (2017, October 19). BBC. Retrieved from http://www.bbc.com/news/world-australia-41674895

Mobile payments on the rise in China

Cash is becoming less common in China since mobile payment apps have reached the mobile marketplace. The industry has risen to a $5 trillion dollar industry in 2016.

Not only has that industry risen, it means the use of the yen has fallen. It has fallen so much so that the government has stopped producing yen that is over 100 yen, equivalent the $15 American dollars. A disadvantage to this is people are forgetting what cash looks like, and will give out counterfeits in change. Or even claim that you are paying with counterfeit bills.

This trend is now spreading to nearby countries as they are getting pressure from Chinese tourists. This could also negatively impact tourism to the country. As the apps require a Chinese bank account, which tourists are not going to have. What kind of impact will this cause surrounding countries who are beginning to adapt?


Source: https://www.cnbc.com/2017/10/08/china-is-living-the-future-of-mobile-pay-right-now.html

23 Dead After Stampede in India

At least 23 people were killed after a stampede at a train station in Mumbai on September 29th. Due to a unexpected rainstorm, commuters gathered together on a pedestrian bridge to shelter themselves from the rain. According to the new article website, Independent, the stampede started from a misunderstanding of a phrase said by a flower seller after their cart had turned over. Witness told police that people heard, "(the) bridge has fallen" instead of "(the) flowers have fallen". The word for bridge (pul) and flower (phool) may sound similar to people and can easily be misheard in a large crowd. Soon after the shouting, a young girl had slipped on the stairway which may have caused the stampede to start. India is known for their overcrowding in train rides but after this incident, many Indians have voiced their concerns and anger towards the government. Instead of spending money on making new bullet trains, the government should be focusing on fixing the commuting and public train issues.

Sources:

"Mumbai bridge stampede began when commuters tragically misheard cries of flower-seller, probe finds". (2017, October 5). Independent. Retrieved from http://www.independent.co.uk/news/world/asia/mumbai-bridge-stampede-police-probe-deaths-flower-seller-a7980976.html

"Stampede at Indian train station kills at least 22". (2017, October 5). The Washington Post. Retrieved from https://www.washingtonpost.com/world/asia_pacific/stampede-at-indian-train-station-kills-at-least-22/2017/09/29/704154c0-a50a-11e7-8c37-e1d99ad6aa22_story.html?utm_term=.728714330c4d