Hypersonic jet: New York to London in 90mins 🚀

AVIATION NEWS

China Tests Hypersonic Jet: NYC to London in 90 Minutes

China’s Space Transportation, also known as Lingkong Tianxing Technology, recently completed the inaugural test of its hypersonic passenger plane, Yunxing, which reportedly reaches Mach 4—over twice the speed of the Concorde. With this development, China aims to slash travel time between London and New York to a mere 1.5 hours, a journey that conventional aircraft complete in roughly eight hours.

The plane’s design and technology signify a bold advancement in aerospace, with the first full-scale test flight projected for 2027. The success of this prototype positions Space Transportation among other companies racing toward a new era of supersonic and hypersonic travel. Notably, U.S.-based Venus Aerospace is working on an even faster Mach 6 jet, highlighting the growing interest in ultra-fast commercial air travel.

While many companies explore the potential of hypersonic travel, Elon Musk has voiced his interest in developing an electric vertical take-off and landing (VTOL) supersonic jet, envisioning a future where such aircraft could operate more sustainably at high altitudes. However, Musk currently has no active projects in this field, due to commitments with his other ventures.

As these technologies advance, the concept of a “hypersonic economy” may soon reshape global travel, making long-haul flights remarkably quicker, with far-reaching implications for commerce, connectivity, and tourism worldwide. See Clip

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China Is Outspending the US to Achieve the “Holy Grail”of Clean Energy

The US and China are in a high-tech race to achieve and commercialize an elusive clean energy source: nuclear fusion. Fusion has the potential to create nearly limitless energy with no carbon emissions and very limited radioactivity. If China wins, it would have a leg up in a growing competition over energy resources as the US is trying to shift more supply chains within domestic borders.

GLOBAL TRADE SNIPPETS

Ocean Network Express’s(ONE) profit forecast soars. ONE has raised its net profit forecast for FY2024 to $2.75 billion, up from $1 billion, citing a recovery in cargo movements and tighter shipping capacity. Despite this, the company remains cautious, highlighting an "extremely uncertain" market outlook for the remainder of the fiscal year.

Russian court imposes $20 decillion fine on Google. A Russian court has fined Google an astronomical $20 decillion for blocking content from Russian media channels on YouTube, a figure vastly exceeding the world's total wealth.

Startup raises $43M for Austal’s groundbreaking sailing cargo trimaran. A startup has secured $43 million for Austal to construct a massive, wind-powered cargo trimaran. The innovative vessel aims to reduce carbon emissions in the shipping industry, advancing sustainable maritime solutions.

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TRADE NEWS

EU Cracks Down on Temu: Illegal Products & Addictive Features Under Fire

The European Union has initiated a formal investigation into Chinese e-commerce platform Temu, citing concerns over the sale of illegal products and potentially addictive design features. The probe, announced on October 31, 2024, aims to determine whether Temu is effectively preventing the distribution of non-compliant items, including pharmaceuticals, toys, and cosmetics, which may pose risks to consumers.

Earlier this year, the Toy Industries of Europe reported that none of the 19 toys purchased from Temu complied with EU safety regulations, with many posing significant hazards to children. Additionally, the EU is scrutinizing Temu's use of gamified reward programs and infinite scrolling, features that may contribute to addictive user behavior.

Temu, which entered the European market in April 2024, has rapidly expanded, amassing over 90 million EU users by September. This growth subjects the platform to stringent regulations under the Digital Services Act (DSA), which empowers the EU to impose fines of up to 6% of a company's global turnover for non-compliance.

In response, a Temu spokesperson stated that the company is investing in its compliance systems and will fully cooperate with regulators to ensure a safe and trusted marketplace for consumers.This investigation underscores the EU's commitment to enforcing digital marketplace regulations and ensuring consumer safety across its member states.

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