Georgia Asian Times July 1-15, 2015

Covering The Multicultural Asian American Community in Georgia

www.gasiantimes.com

July 1-15,, 2015

Greece defaults on IMF payment despite last-minute overtures to creditors

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July 1-15, 2015 Georgia Asian Times

Georgia Asian Times July 1-15, 2015

Publisher: Li Wong Account Manager: Adrian West Contributors: Andrian Putra, May Lee, Mark Ho Photographer: Ben Hioe

Tel: 678-971-9388 Advertising: gat@gasiantimes.com Editorial: info@gasiantimes.com URL: www.gasiantimes.com Mailing Address: P.O. Box 4502 Suwanee GA 30024 Copyright Georgia Asian Times 2004-2015

All Rights Reserved: including those to reproduce this printing or parts thereof in any form without permission in writing from Georgia Asian Times. Established in 2004, the Georgia Asian Times is published by Asiamax Inc. All facts, opinions, and statements appearing within this publication are those of writers and editors themseleves, and are in no way to be construed as statements, positions, endorsements by Georgia Asian Times or its officers.

Georgia Asian Times assumes no responsibility for damages from the use of information contained in this publication or the reply to any advertisement. The Publisher will not be liable for any error in advertising to greater extent than the cost of space occupied by the error and will only be made for a single publication date.

The Publisher reserves the right to reject any ad or articles submitted for publication that may not be in good taste for a free publication.

GAT Calendar of Events GAT welcome submission of announcement pertaining to community related events.

Please email event, date, venue, and time to gat@gasiantimes.com.

GAT does not guarantee insertion of event announcement and has the right to deny any posting.

GAT 25 Most Influential Asian Americans in Georgia - Awards Banquet Date: Friday, July 17, 2015 Time: 6:30 pm Venue: Sonesta Gwinnett Place For more info: 678.971.9388 10th Annual Laotian American Society Gala Date: Saturday, July 18, 2015 Time: 6:00 pm Venue: Premier Event Halls, 3520 Breckinridge Blvd, Duluth For more info: www.lasga.org Asian Cultural Experience (ACE) Date: Saturday-Sunday, Aug 8-9, 2015 Time: 11:00 am - 8:00 pm Sat; 11:00 am-6:00 pm Sun Venue: Gwinnett Center For more info: www.asianculturalexperienceinga.com

20th Annivesary Hong Kong Dragon Boat-Atlanta Date: Saturday, Sept 12, 2015 Time: 7:00 am - 6:00 pm Venue: Clarks Bridge Olympic Kayaking-Lake Lanier, Gainesville, Georgia For info: dragonboatatlanta.com 2015 Atlanta Asian Film Festival Date: October 2-10, 2015 For more info: www.atlaff.org

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July 1-15, 2015 Georgia Asian Times

METRO ASIAN NEWS

20th Asian Cultural Experience celebrations at Gwinnett Center from Aug 8-9 Duluth, June 25, 2015 — This year marks the 20th Year of Asian Cultural Experience! There will be 15 Asian nationalities represented and will all showcase their unique culture, foods, music, dances, martial arts and much more at the Gwinnett Center on August 8th-9th.

Partnering up with local organizations and sponsors, more than 1,500 volunteers will give Atlanta a taste of Asian Culture.

In addition to the 20 Years of Asian Cultural Experience (ACE), ACE is proud to host the first Annual Miss Asia of Georgia Pageant. Three contestants of each representing an Asian nationality will compete for a scholarship.

The focus of this pageant is to show the empowerment of women and pride of one’s diverse ethnic backgrounds.

Space is limited but it is not too late to register to be a contestant.

ACE is also proud to host the first Annual Fruit Carving Masters Chal-

lenge, an extraordinary showpiece in all Asian cultures. Fruit carving is a unique art form to showcase sweet delicacies of nature’s gifts. This competition will allow anyone with fruit carving abilities to show off their skills and talent to the Atlanta community.

Food, food and more food! Nothing says culture more than food! With community and restaurant sponsors; various dishes, sweets and refreshments will be available.

Tickets are currently available online at www.asianculturalexperience.org.

Tickets are only $10 each and children are admitted for free. Discount tickets are available for students with ID for only $5.

For those who would like to partner/ sponsor, volunteer or participate in the 20th Year of Asian Cultural Experience, please send your request to : info@asianculturalexperience.org

NACA Holds 2015 Annual Meeting and Board of Directors Election Atlanta, June 20, 2015 — The National Association of Chinese Americans (“NACA”) held its 2015 annual meeting at Super Hibachi Buffet Restaurant to elect its Board of Directors for the 2015-2016 term. Approximately sixty NACA members attended the meeting.

NACA’s President, Mr. Steven Gu, thanked members, friends and family for their participation and support of NACA during the past year and promised more quality programs and events for the coming year to benefit members and achieve NACA’s missions.

NACA members cast their ballots and elected the following members to serve on the 2015-2016 Board of Directors: Steven Gu, Ricardo Hubler, Celena Xu, Li Zheng, Charlene Fang, Gene Hanratty, Jin Jin, Ethel Mar, Ran Tao, Nikki Yu, Leona Hu, Maggie Mers, Paula Wang, Mike Deng, and Jin Lian.

Special Speaker, Robert Wells, made a presentation about his recently published book, Voices from the Bottom of the South China Sea. This book is about 19th Century Chinese immi-

gration from Guangdong Province through Hong Kong to California, representing exciting new history for the Hong Kong, Asia-Pacific and Chinese studies field.

Established in 1980, NACA strives to achieve its mission of “bridging cultures, building leaders, and benefiting communities” by organizing and sponsoring activities that promote cultural, educational, scientific and business relations and exchanges between U.S. and China. It also encourages Chinese-Americans to participate in the American political process while preserving their Chinese heritage in the American culture.

Georgia Asian Times July 1-15, 2015

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July 1-15, 2015 Georgia Asian Times

FEATURE Greece defaults on IMF payment despite last-minute overtures to creditors Athens, July 1, 2015 - Greece’s last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.

The IMF confirmed that Greece had not made its scheduled 1.6 billion euro loan repayment to the fund. As a result, IMF Managing Director Christine Lagarde will report to the global lender’s board that Greece is “in arrears,” the official euphemism for default.

Fears of a Greek default have unnerved financial markets on concerns that it would ultimately lead to the country’s exit from the euro common currency.

The fate of Greece’s membership in the 19-nation currency bloc still hangs in the balance ahead of a referendum on Sunday when Greek citizens will vote on whether to accept the austerity terms of continued international aid.

President Barack Obama said on Tuesday the financial crisis in Greece should not create a major shock for the US economy, but warned that its fallout could dampen global growth.

IMF spokesman Gerry Rice said Greece can now only receive further funding from the global lender once the arrears are cleared. He confirmed that Greece asked for a last-minute repayment extension earlier on Tuesday, which the fund’s board will consider “in due course.”

The left-wing Greek government’s 11th-hour bid for an extension of its international bailout and a two-year funding and debt restructuring program offered no concessions to creditors’ demands for economic reforms, according to text seen by Reuters.

A one-page letter from Greek Finance Minister Yanis Varoufakis to the chairman of the Eurogroup of finance ministers of the euro zone said Greece

was “fully committed to service its external debt in a manner that secures the viability of the Greek economy, growth and social cohesion.”

But it made no mention of the conditions set by Greece’s three lenders – the European Commission, the European Central Bank and the IMF – for releasing frozen aid to avert defaulting on the IMF repayment. Instead, Varoufakis cited legal grounds for requesting a two-year loan of an unmentioned amount.

“The loan will be used exclusively to meet the debt service payments of Greece’s external and internal debt obligations,” he wrote. It was not clear whether that includes payment arrears to Greek government suppliers, civil servants and others.

The letter went on to say, “Until this loan is agreed and in force, Greece requests for the program to be extended by the Eurogroup for a short period of time in order to ensure a technical default is not triggered.”

Before the payment deadline, Varoufakis indicated on a call with European counterparts that Athens might scrap the upcoming referendum if a deal was reached, according to euro zone sources.

But the latest Greek proposals came too late to prevent Greece’s existing aid package – with locked-up funds it needs to pay wages, salaries and debt – from expiring at midnight.

Now, Greece will lose access to a 1.8 billion euro loan tranche and 10.9 billion euros for recapitalizing banks.

Door still open?

The flurry of diplomacy came as tens of thousands of people descended on Athens’ central Syntagma square over the past 24 hours in two different rallies – one to reject additional austerity measures and the other to push for Greece to agree to the terms in order to

keep the financial spigot open.

In a sign that European officials have not given up on finding a solution, finance ministers said they would confer on Wednesday over Greece’s latest loan request and debt restructuring.

It was unclear how much the Wednesday call could achieve. Trust between Athens and European capitals is in tatters after five months of acrimonious negotiations, and the relationship further deteriorated after Athens on Saturday decided to put creditors’ proposals to a referendum.

Greek Prime Minister Alexis Tsipras has said the plebiscite is the democratic way for Greeks to decide if they will accept more budget cuts and taxes in return for international aid. He has urged a “No” vote.

German Chancellor Angela Merkel has ruled out further negotiations until after Sunday’s referendum.

Jeroen Dijsselbloem, chairman of the euro zone’s group of finance ministers, warned that Athens was welcome to ask for new aid but that it would come with conditions.

“What can change is the political stance of the Greek government that has led to this unfortunate situation,” Dijsselbloem said.

In what appeared to be a further attempt to gain traction with creditors, Varoufakis indicated during Tuesday’s call that Athens might urge Greeks to vote in favor of bailout terms if a deal on a new loan was reached, the euro zone sources said.

Yes or no to euro?

Greece has received nearly 240 billion euros in two bailouts from the European Union and IMF since 2010.

The money has allowed it to stay afloat but at a high cost to its population, which has absorbed cuts to pensions, wages and public services.

It is the first time in IMF history that an advanced economy has defaulted on a loan from the world’s financial backstop, putting Athens, whose economy has contracted by more than 25 per-

cent since 2009, in the same bracket as Zimbabwe, Sudan and Cuba.

On Tuesday, Fitch ratings agency cut its long-term rating on Greece to CC from CCC, saying the breakdown of negotiations had significantly increased the risk that Greece would not be able to meet its debt obligations in the next few months.

With its missed IMF payment, Greece is on a path out of the euro with unforeseeable consequences for the EU’s grand project to bind countries through a single currency and for the global economy.

On Monday, Standard & Poor’s lowered its sovereign rating on the country and said the probability of Greece exiting the euro zone was now about 50 percent.

“What would happen if Greece came out of the euro? There would be a negative message that euro membership is reversible,” said Spanish Prime Minister Mariano Rajoy, who a week ago declared that he did not fear contagion from Greece.

The imposition of capital controls to prevent the banking system from collapsing has given Greeks a bitter foretaste of what could follow exit from the euro. The government began a week-long shutdown of the banks and the stock exchange on Monday.

Bank withdrawals are limited to 60 euros a day, and a crisis mentality has gripped the country, with people queuing at petrol stations and stripping supermarket shelves bare.

“So far there are no problems with suppliers, but if the banks are still closed next week there will be a bit of a problem if they demand purely cash payments,” said Charisis Golas, owner of a small meat and dairy shop in Athens.

- Reuters

Georgia Asian Times July 1-15, 2015

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FEATURE

Supreme Court upholds Obama’s Affordable Health Care

Washington DC, June 25, 2015 — The US Supreme Court on Thursday upheld a disputed portion of President Barack Obama’s landmark healthcare reform, in a major legacy-building victory for his administration.

By a margin of six to three, the judges ruled in favor of allowing the federal government to subsidize health insurance by giving tax credits to consumers nationwide.

A triumphant Obama quickly hailed the ruling, calling it a win for “hard-working Americans all across this country.” “This law is working and it’s going to keep doing just that,” he said.

Opponents of the Affordable Care Act, better known as “Obamacare”, had argued that it was unconstitutional for the federal government to subsidize insurance in this way in states that refused to set up their own insurance exchanges.

The narrow question before the court was whether some seven million people who signed up for Obamacare via the government’s website were actually entitled to tax subsidies that make the coverage affordable.

But the high court ruled that the law should stand, with two usually conservative justices joining the four generally liberal members of the panel to overturn the challenge.

In a ruling read out by Chief Justice John Roberts, the bench argued that it

was clear that the original law had been intended to permit federal subsidies in all states.

Failure to do so would have condemned the law to a “death spiral” by destabilizing the insurance market in states with federally run exchanges, Justice Sonia Sotomayor had said in March when the case was heard.

“It thus stands to reason that Congress meant for those provisions to apply in every state as well ... tax credits are available to individuals in States that have a federal exchange,” the ruling said.

‘SCOTUScare’?

“Five years in, this is no longer about a law. This is not about the Affordable Care Act as legislation or Obamacare as a political football. This is healthcare in America,” the president said in the White House Rose Garden.

Republicans have mounted several legislative attacks on the law in parallel to the legal assaults and this is the second time in three years that the court has saved it.

Fellow Democratic lawmakers hailed the announcement. “This is a victory for common sense and for all American families,” declared Nancy Pelosi, leader of the Democratic minority in the House of Representatives.

The remaining three conservative judges opposed the ruling in a minority opinion presented by Justice Antonin Scalia that argued his colleagues had twisted the language of the bill in order to save it.

“It is long past time for Republicans to abandon their assault on the newfound health security that the Affordable Care Act is providing millions and millions of Americans across the country.”

“Today’s opinion changes the usual rules of statutory interpretation for the sake of the Affordable Care Act,” Scalia wrote. “We should start calling this law SCOTUScare,” he added, using the acronym for the Supreme Court.

Republicans reacted angrily. “Republicans will continue to fight tooth and nail to repeal this oppressive law,” declared Senator John Cornyn, the party’s number two leader in the senate.

For Obama, the ruling marked a major victory that cements his signature domestic policy achievement.

“Today’s decision doesn’t change the fact that Obamacare has been a disaster for the millions of hardworking

American families who have seen their healthcare costs skyrocket or lost their insurance entirely.”

Several Republican contenders in the 2016 presidential race to succeed Obama also slammed the ruling. “Despite the court’s decision, Obamacare is still a bad law that is having a negative impact on our country and on millions of Americans. I remain committed to repealing this bad law,” said Senator Marco Rubio.

Another White House hopeful, Jeb Bush, called it a “fatally flawed law” and added: “This decision is not the end of the fight against Obamacare.”

Democratic presidential candidate Hillary Clinton tweeted: “Yes! SCOTUS affirms what we know is true in our hearts & under the law: Health insurance should be affordable & available to all.”

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July 1-15, 2015 Georgia Asian Times

BUSINESS Rather than compete with powerhouses like US drug maker Merck (MRK.N) to invent blockbuster medicines, Humanwell’s US researchers are making smaller refinements such as figuring out how to administer some drugs as pills rather than injections.

Chinese FDI at the Rhodium Group, a New York consultancy.

Humanwell’s New Jersey researchers have won approval on four patents so far in the United States and European Union, Xiang said. There are advantages to setting up labs in the US, where there are over 800,000 people with research doctoral degrees in science, engineering, and health.

Annual flows of Chinese FDI into the United States have gone from tens or hundreds of millions of dollars per year between 2000 and 2009 to $14.3 billion in 2013 and $11.9 billion in 2014, according to Rhodium Group figures, which are widely cited because they track China’s investments made via third countries such as Singapore.

“Without access to innovation, it is hard to win in the domestic market,” said Xiang.

Chinese firms pour money into American R&D in shift to innovation

Washington DC, June 22, 201 — Surging investment by Chinese companies in US research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world’s factory floor to a driver of innovation.

Largely absent from American research hubs a decade ago, Chinese firms including Huawei Technologies and ZTE Corp are now using US researchers to create patents ranging from new software to internet infrastructure, according to an analysis of Thomson Reuters’ global intellectual property database.

The rapid growth in China’s US investments will be a key topic at economic and security talks on Tuesday and Wednesday between top US and Chinese officials in Washington.

They are negotiating a bilateral investment treaty that could deepen ties

between the world’s two largest economies even amid tensions over China’s military assertiveness.

Even without a treaty, China is pouring capital into US research as well as buying other assets. While its firms are still newcomers to investing in America and few work on the technological frontier, the Thomson Reuters data offers a glimpse of the advanced economy China aspires to build.

Patented inventions by Chinese firms that involved at least one U.S. researcher roughly doubled worldwide in each of the last three years, reaching 910 in 2014.

“We have established a beachhead,” said Vincent Xiang, who heads international investment at Humanwell Healthcare Group, a Chinese drug company that has put over $50 million into a New Jersey subsidiary that employs dozens of US researchers.

A small but growing player And yet, direct investment between the United States and China is remarkably low considering the size of their economies, and the fruits of China’s US R&D are similarly modest compared with the vast quantities of patents that emerge from America every year.

The cumulative stock of foreign direct investment in China from the United States makes up just over 1 percent of the FDI sunk into Chinese businesses by all nations, according to US government data. Most FDI in China comes from other Asian countries.

China’s share of America’s FDI stock is even smaller, but it has been growing rapidly in recent years as Beijing has eased restrictions on outward investment.

That is helping Chinese companies sink more money into a range of advanced economies.

The Thomson Reuters data also shows a sharp increase in recent years in patents by Chinese firms using German and Japanese researchers.”This is a change in China’s economic development model,” said Thilo Hanemann, who helps maintain a database on

“They want to move from an economy driven by domestic investment and exports to one driven by consumption, technology and services.”

That is now approaching the annual flows from America’s traditional sources of FDI: advanced countries such as Germany and Canada who continue to mine much more knowledge from Americans than does China. German companies extracted 1,416 patents last year using US researchers.

China already publishes more patent applications than any other country, although development economists note that its state-mandated patent targets often lead to lower quality patents, particularly those taken out only in China.

However, the Thomson Reuters data, which brings together information from patent offices in dozens of countries, points to many high quality inventions using US researchers.

For example, Huawei, the top Chinese company with patents fueled

by US research, has a US patent for processing fiber optic signals that was cited by 101 later inventions.

The recent Chinese National Patent Development Strategy highlights the country’s plans through 2020, including seven strategic industries positioned for growth: biotechnology, alternative energy, clean energy vehicles, energy conservation, high-end equipment manufacturing, broadband infrastructure and high-end semiconductors.

Georgia Asian Times July 1-15, 2015

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BUSINESS

U.S. and India discuss IP concerns Washington DC, June 22, 2015 — Indian Finance Minister Arun Jaitley said on Saturday that senior Obama administration officials had raised US concerns with him about India’s handling of intellectual property rights during his US visit this week.

Jaitley held talks with Treasury Secretary Jacob Lew and Commerce Secretary Penny Pritzker during a tour that has taken him to New York and Washington, including meetings with CEOs and think tanks. His main purpose has been to seek more US investment in India, Asia’s third largest economy.

While offering a mostly upbeat assessment of his trip so far, Jaitley said discussions with US counterparts had also touched upon contentious issues between the two countries.

“There are references on the US side to their concerns with regard to intellectual property regulations in India,” he told a news conference in Washington.

In an annual review of trading partners published in late April, the US Trade Representative’s Office said India – along with 12 other countries – remained on a US priority watch list for lax rules on copyright, trade secrets and other intellectual property rights violations.

But USTR also said there had been signs of progress in addressing intellectual property concerns and the United States expected “substantive and measurable improvements.”

Intellectual property concerns and trade protectionism have long been cited by US companies as obstacles to doing more business in India.

Jaitley said he also raised with US officials India’s concern about reaching a Totalization Agreement “so that our professionals could get the benefits which have otherwise been denied to them.” Completion of such an accord would allow Indians working in the United States to avoid double taxation on social security.

Another topic of discussion was continued efforts to reach a Bilateral Investment Treaty, Jaitley said.

The finance minister is seeking increased US investment with the promise of more stable, transparent economic policies. Since taking office last year, Prime Minister Narendra Modi has sparked optimism that he can implement significant reforms.

“In an otherwise troubled times of the global economy, India clearly is a bright spot,” said Jaitley, who heads to San Francisco on Sunday to meet with other potential investors.

India’s economy is expected to grow 7.5 per cent this year, according to the latest World Bank forecast. But Jaitley said earlier on his trip that reforms could lead to even higher growth rates this year. - Reuters

It also includes an increase in research and development expenditures as a proportion of economic output from 1.75 percent in 2010 to 2.2 per cent this year.

One Chinese concern likely to be aired at the US-China meetings this week is that Beijing feels its companies’ investments are singled out in U.S. security reviews.

Huawei is a world leader in producing telecommunications equipment and has six US research centers, but is a bit player in America’s telecom infrastructure market. U.S. national security concerns have helped scuttle several attempts by Huawei to expand its US presence.

“Huawei has occasionally found itself caught in the middle” of geopolitical tensions between Washington and Beijing, said company spokesman William Plummer.

Most Chinese FDI happens when investors snap up established US companies, such as when auto parts maker Wanxiang Group 000559.SZ bought California-based electric carmaker Fisker Automotive – and its patents – at a bankruptcy auction last year.

The Chinese are also starting new ventures and have invested $3 billion in these “greenfield” projects over the last three years, according to Rhodium.

America’s state and local governments have set up dozens of offices to compete with one another to attract this capital, which could flow more freely under a US-China investment treaty.

Officials offer potential investors tax incentives and introduce them to potential local partners and to legal and accounting firms.

State officials understand there are no-go areas given tensions between Washington and Beijing on security matters. Washington reviews more potential investments from China for security concerns than any other country.

“China being China we don’t do aerospace or defense,” said Bradley Gillenwater, the Maryland state government’s point person for attracting Asian investment. “But biotech is a big deal.” - Reuters

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July 1-15, 2015 Georgia Asian Times

BUSINESS

Some countries, including Japan and Canada, wanted fast-track to be approved before making final offers on the trade deal, which would cover 40 percent of the world economy and raise annual global economic output by nearly $300 billion.

Negotiators say a deal on the TPP could be wrapped up within weeks once countries are sure that Congress will not pick the deal apart, which fasttrack would prevent.

Congress victory moves Obama’s TPP forward Washington, DC — June 25, 2015 Legislation vital to securing the largest US trade deal in decades was passed by the Senate on Wednesday by a comfortable margin, advancing President Barack Obama’s efforts to strengthen US economic ties around the Pacific Rim. After a six-week congressional battle including two brushes with failure, some fancy legislative footwork and myriad backroom deals to keep the legislation alive, the Senate voted 60 to 38 to grant Obama “fast-track” power to negotiate trade deals and speed them through Congress.

The bill next goes to the president for his signature.

That could propel the 12-nation Trans-Pacific Partnership (TPP), a central element of Obama’s foreign policy pivot to Asia, over the finish line, while also boosting hopes for completing an

ambitious trade deal with the European Union.

US labor groups, which fought fasttrack, said they will redouble their efforts. “We will vigorously oppose TPP if it continues on its current course,” AFL-CIO President Richard Trumka wrote in a letter to lawmakers.

The TPP, potentially a legacy-defining achievement for Obama, would be the biggest free trade agreement in a generation and rank with the North American Free Trade Agreement, which liberalized trade between the United States, Canada and Mexico, while also serving as a counterweight to the rise of China.

To complete the TPP, ministers of the various countries involved still have tricky issues to resolve, ranging from monopoly periods for next-generation medicines to the treatment of state-owned enterprises.

“We are optimistic that (fast-track) will lead the way for many new market-opening agreements, including the Trans-Pacific Partnership,” said Doug Oberhelman, chief executive of Caterpillar Inc, which welcomed the vote of approval, as did technology companies Intel Corp and International Business Machines Corp , and insurer Metlife Inc. Worker aid bill Fast-track authority, letting lawmakers set negotiating goals for trade deals but restricting them to yes-or-no votes on final agreements, will last for up to six years and will extend to any trade deals negotiated by Obama’s successor, who would take office in January 2017.

Wednesday’s vote came as Congress was trying to finish up four parts of a trade legislation package: fast-track negotiating authority, aid for workers who lose their jobs as a result of trade, an Africa trade preferences bill, and a customs enforcement measure.

Fast-track was forced back to the Senate floor after a revolt by Demo-

crats in the House of Representatives resulted in it being split from the worker aid measure.

That bill received unanimous approval and now will return to the House, where many Democrats who previously opposed the aid program now plan to support it. Their initial opposition was part of a ploy that failed to derail fast-track legislation.

Passage of worker aid in the House on Thursday would allow both measures to go to Obama for approval this week, before lawmakers go on a weeklong break.

The bruising congressional battle pitted Obama against many in his own party, including House Democratic leader Nancy Pelosi, and prompted blood-letting among Republicans after party leaders lashed out at conservatives who refused to back the trade agenda.

Opinion polls show a majority of Americans support trade in general, but congressional approval has been a slog given pressure from unions and activists warning of job losses and vowing to retaliate against Democrats who support trade.

The front runner for the party’s presidential nomination in 2016, Hillary Clinton, said Democratic critics had legitimate concerns but has so far reserved judgment on the TPP.

Georgia Asian Times July 1-15, 2015

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LIFESTYLE

Krakow and Kiev emerge beer-loving travelers’ paradise In a new index that ranks the cheapest – and most expensive – cities for beer-chugging, budget backpackers and travelers, Krakow, Poland and Kiev, Ukraine have emerged the best destinations for getting your beer on.

Because after crunching the numbers, the Polish city and Ukrainian capital emerged the most affordable of 75 cities in GoEuro’s 2015 Beer Price Index: The overall average price of a 33cl bottle of ale in these destinations is about the same price as a cup of coffee at $1.66.

For the report, analysts looked at the prices of the five most popular beer brands including imports and local brews at the supermarket and the bar.

Meanwhile, budget traveling beer lovers headed to Geneva will have to nurse their drinks more slowly as the same bottle of beer will set them back an average of $6.32, the most expensive destination on the list.

The GoEuro report is the latest in a string of food-related price indexes meant to serve as a barometer of the most affordable and priciest travel destinations around the world.

Last week, Hotels.com released the results of their annual Club Sandwich Index, which likewise uses the standard club sandwich – an international staple on hotel room service menus – to serve as a price gauge.

And like the beer index, Geneva topped

their 2015 list for the third year in a row, for charging an average of $31 for a bacon, chicken, lettuce and tomato sandwich.

Here’s how the cities stacked up: Cheapest beer cities: Krakow, Poland and Kiev, Ukraine $1.66 Bratislava, Slovakia $1.69 Malaga, Spain $1.72 New Delhi, India $1.75 Ho Chi Minh City $1.78 Mexico City $1.96 Belgrade, Serbia $1.97 Asuncion, Paraguay $1.98 Bangkok, Thailand $2.11 Cairo, Egypt $2.11 Most expensive beer cities Geneva, Switzerland $6.32 Hong Kong $6.16

Tel Aviv, Israel $5.79 Oslo, Norway $5.31 New York $5.20 Singapore $5.13 Miami, USA $5.13 Helsinki, Finland, $4.91 Tokyo, Japan $4.77 Abu Dhabi (including the price of non-alcoholic beer) $4.66

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July 1-15, 2015

Georgia Asian Times

LIFESTYLE

Asia one of most expensive destinations for expats Seoul, June 17, 2015 — Asia has become one of the most expensive regions for people working abroad, according to a new survey, with its major cities accounting for half of the top 10 costliest expat destinations.

“Japanese cities have continued to drop in the ranking this year as a result of the Japanese yen weakening against the US dollar,” added Constantin-Metral.

Hong Kong climbed one place from last year to become the world’s second most expensive place for expats, Mercer said in its annual Cost of Living Survey today, with Singapore, Shanghai, Beijing and Seoul also making the shortlist.

Overall, the cost of living in Western European cities dropped due to a slide in the euro. The three cities that made the top 10 — Zurich, Geneva and Bern — use the Swiss Franc, which jumped in January after the central bank removed a ceiling on its strength.

Much of the change in rankings is down to currency fluctuations, with the appreciation of the yuan against the dollar pushing up the cost of living in China, which now accounts for nine of the top 30 most expensive expat cities in the world.

Leading the rankings was the Angolan capital Luanda, which retained its top spot due to the high price of imported goods and security services used by many foreigners.

“Chinese cities jumped in the ranking due to the strengthening of the Chinese yuan along with the high costs of expatriate consumer goods,” said Mercer executive Nathalie Constantin-Metral in a statement.

By contrast Tokyo, ranked the most expensive city for expats in 2012, fell four places from last year to number 11 due to a slump in the Japanese currency after a massive easing program by its central bank.

The survey by the Mercer consulting group compares the cost of over 200 items in 207 cities, including housing, food, transport and entertainment.

It takes New York as its base city for comparison, and measures currency movements against the dollar, which has appreciated significantly from a year ago as the health of the US economy has improved.

China has four million new millionaires Beijing, June 16, 2015 — China had four million millionaire households in 2014, the second-highest in the world after the United States, as the country’s stock market boom boosted private wealth, an independent survey showed Tuesday.

One million new millionaires were created in the country last year, the highest increase among all nations, US-based research firm Boston Consulting Group (BCG) said in a report.

The United States had seven million millionaire households last year, the most in the world. Japan took third place with one million, according to the report.

Growth in private wealth in China was driven mainly by investments in local equities, it said.

The benchmark Shanghai Composite Index finished 2014 as the best performer in Asia after soaring more than 50 percent.

“Strong market performance across the entire (Asia-Pacific excluding Japan) region — thanks to solid domestic demand — significantly increased the value of existing assets… compared with the increase stemming from newly created wealth,” the report said.

The rise in the value of existing

assets accounted for 76 percent of the region’s growth in private wealth, it added.

China had 1,037 households with more than $100 million in net worth, around one fifth of the United States’ 5,201 but the second-largest in the world, the report said.

Forbes said in an April report that mainland China was estimated to have a record 400 billionaires and billionaire families thanks to “a rally in stock prices”.

A yawning income gap has become a rising concern in the world’s most populous country, where the official Gini coefficient stood at 0.469 last year.

The figure is a commonly used measure of income inequality, with 0 representing perfect equality and 1 total inequality. Some academics view 0.40 as a warning signal.

Analysts say that official corruption connected with government control of the economy, the state monopoly of some industries and a lack of social security for migrant workers are among reasons for the country’s income imbalance, according to a report earlier this year by the People’s Daily, the ruling Communist Party mouth-piece.

Georgia Asian Times July 1-15, 2015

Page 13

SPORTS NBA T-Wolves pick first, global talent hot in draft New York, June 24, 2015 — Set to pick first in the NBA Draft for the first time in their 26-year history, the Minnesota Timberwolves are looking at center Karl-Anthony Towns and playmaker Jahlil Okafor.

Iwabuchi scored Japan late goal into World Cup’s Semis Edmonton, June 28, 2015 — A late goal from substitute Mana Iwabuchi put holders Japan into the semi-finals of the Women’s World Cup yesterday with a 1-0 win over Australia.

Iwabuchi, 22, finally got the breakthrough after 87 minutes in a tense quarter-final Japan dominated in Edmonton, to put the champions through to the last four along with former twotime winners Germany and the United States.

The Asian champions next play either hosts Canada or England in Wednesday’s semi-final in Edmonton, with Germany and the United States also playing for a place in the final on Tuesday in Ottawa.

The Japanese looked dangerous early but had little to show for their efforts during an uninspiring first half between the Asian rivals at the Commonwealth Stadium.

Forward Shinobu Ohno threatened for the “Nadeshiko” but missed from close range after 22 minutes.

Matildas goalie Lydia Williams proved solid as she pushed Japan captain Aya Miyama’s shot on goal over the bar on 33 minutes.

Just before the break Australia had a chance to break the deadlock only for Kyah Simon’s long range effort to go straight into the hands of Ayumi Kahori in goal.

Australia allowed their best chance go abegging when a Mizuho Sakaguchi error on 54 minutes let Sam Kerr through but her tame effort went straight at Kahori.

Japan continued to look dangerous but Miyama and Yuki Ogmi both missed in front of goal.

Coach Norio Sasaki brought on Iwabuchi for Ohno after 72 minutes and she finally got the breakthrough firing in from close range after Azusa Iwashimizu’s shot had been blocked.

It was a fifth win in as many games in Canada for the fourth-ranked Japanese, who beat Australia 1-0 in the Asian Cup final last year.

The Matildas, at 10th, the lowest ranked team left in the tournament, go home after getting past the knockout rounds for the first time in their history by beating Brazil 1-0 in the last 16.

Thursday’s annual allocation of unclaimed talent by the NBA’s 30 clubs could see the University of Kentucky match its record by having five players chosen in the first round while several top international players learn which NBA club will obtain their playing rights.

Towns averaged 10.3 points, 6.7 rebounds and 2.3 blocked shots a game last season for Kentucky, which also could see Willie Cauley-Stein, Trey Lyles, Devin Booker and Dakari Johnson also taken in round one. Kentucky also had five players taken in the first round in 2010.

The Timberwolves, who won last month’s NBA Draft Lottery to claim the top overall pick, could become the first NBA club to have three consecutive number one selections playing together in one season, having obtained 2013 top choice Anthony Bennett and 2014 top pick Andrew Wiggins last year in the trade with Cleveland that sent star forward Kevin Love to the Cavaliers.

If Towns doesn’t go first, the other player drawing the most attention is Duke’s Jahlil Okafor, a freshman center who averaged 17.3 points, 8.5 rebounds and 1.4 blocked shots a game for the Blue Devils last season.

Whichever big man the T-Wolves don’t take figures to be headed for the Los Angeles Lakers, who select second in the draft and need some inside help. The Philadelphia 76ers choose third, followed in order by New York, Orlando, Sacramento, Denver, Detroit, Charlotte and Miami.

Mudiay improved in China The global player attracting the most attention is guard Emmanuel Mudiay of the Democratic Republic of the Congo, who played 12 games for China’s Guangdong Southern Tigers before suffering a right ankle sprain.

Mudiay, who came to the United States in 2001 at age five, averaged 18.0 points, 6.3 rebounds, 5.0 assists and 1.6 steals a game for the Chinese club and his decision to spend a season overseas against older competition could spark more US teens to opt for global training for the NBA rather than US colleges.

He is only the third US player in the decade since the NBA adopted a minimum draft age of 19 to spend a year overseas, following Brandon Jennings who played in Italy before going 10th in 2009 and Jeremy Tyler, a second-round pick in 2011 after seasons in Israel and Japan.

Mudiay, at 19 like Towns and Okafor, could also become the highest player ever picked in the draft from his homeland, surpassing Hall of Fame big man Dikembe Mutombo, who was chosen fourth in 1991.

Croatian swingman Mario Hezonja, who played last season at Barcelona, could also become the highest-ever pick from his homeland, surpassing the 12th-overall selection of Dario Saric last year. Hezonja, 20, averaged 7.7 points, 2.0 rebounds and 1.0 assists a game in 22 appearances last season for the Spanish club.

Latvian power forward Kristaps Porzingis, who played for Sevilla last season, would become only the third player from his homeland to play in the NBA. Biedrins, the 11th pick in 2004, was the only Latvian to be drafted.

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July 1-15, 2015 Georgia Asian Times

SPORTS

US Open: Tiger Woods endures worst major championship round of his career Tacoma, June 19, 2015 - Tiger Woods endured the worst US Open round of his career yesterday with a shocking 10-over 80 at Chambers Bay.

of those was his playing partner and reigning Players Championship winner Rickie Fowler who shot an 11-over 81.

It marked Woods’ third round in the 80s this season and he equalled the worst major championship round of his career, bringing back memories of his 10-over 81 at the storm-hit 2002 British Open in Muirfield.

Woods started his round Thursday with back-to-back bogeys on the front nine as his season-long slump is showing no signs of ending soon despite a series of swing changes he implemented in the hope it would straighten out his game.

“Not very happy, that’s for sure. It was a tough day,” said Woods, who will turn 40 in December. “I couldn’t quite get it turned around today.”

On the back nine he had three straight bogeys beginning at No. 11, followed by a triple bogey on the parfour 14th.

Woods’ head-scratching opening round comes just two weeks after he shot a career-high 85 in the third round of The Memorial.

He capped his round with another bogey at the par-five 18 after topping his approach so deep into one bunker that he had to go down a set of stairs to find it.

His previous worst score in a US Open was in 2006 at Winged Foot in Mamaroneck, New York, where he shot two straight rounds of 76 and missed the cut.

“For some reason I just can’t get the consistency that I’d like to have out there,” said Woods, who finished with eight bogeys, one triple bogey and just one birdie.

The 10-over comes 15 years to the day that Woods won his first US Open title by 15 strokes at Pebble Beach.

Now the 14-time major winner will need a miracle to make the cut on Friday as he finished ahead of just two other players at Chambers Bay and one

Woods was even outscored yesterday by 15-year-old amateur Cole Hammer who beat him by three strokes with a 77.

The only other player to finish worse than Woods and Fowler was Rich Berberian who had a 13-over 83.

“The bright side is at least I kicked Rickie’s butt today,” said Woods, trying to find some humour in the situation.

Woods said he fought through it as best he could but just came up empty.

“I couldn’t grind out any harder than that. Unfortunately it was a high number today,” he said.

Woods said undergoing knee surgery is one thing but there is nothing like trying to recover from his back surgery.

“Knee surgeries are pretty easy compared to a back surgery, the recovery time,” he said.

“And for some reason, it’s just a lot harder dealing with a nerve than a joint.”

No giving up Despite his troubles, Woods isn’t about to give up. Asked how he plans to turn this around, he said, “Keep working. Keep grinding, and keep working.”

The quirky links-style Chambers Bay course is one of the longest in US Open history with an array of elevation changes that only adds to the mental and physical demands on the golfers.

The stretch from the fourth hole to the seventh is one of the most difficult par-four series the players are going to see all season.

So with the state of Woods’ game at the moment he was lucky to get through that section in two-over par.

But just when he thought the worst might be over he reached the 602-yard, par-five eighth.

Woods’ wayward tee shot sailed well right into the deep fescue grass, coming to rest on a steep bank and giving him an awkward downslope stance.

Woods paced the area and then took a time out to tie his shoes while he pondered the difficult lie.

He stood over the ball and took a full swing, making contact but also hitting something hard on the ground which caused him to fling his club about 30 feet backwards over his left shoulder.

Woods turned around picked up the club and checked the shaft to make sure it wasn’t broken or warped.

But what he couldn’t see was that his ball had travelled to the other side of the fairway where it had stopped in more rough.

Despite his troubles, Woods reached the green on eight with his third shot, giving him a birdie chance from 20 feet. But his first putt landed short and he tapped in for par.

“When I do it right, it’s so easy. It just feels easy to control, easy to do it, easy to hit all my shots. I just need to do it more often,” he said.

Georgia Asian Times July 1-15, 2015

Page 15

HEALTH Synthetic blood transfusions could begin within two years Synthetic red blood cells are to be transfused into human testing subjects by 2017, the UK’s National Health Service (NHS) Blood and Transplant announced this week.

for whom finding a compatible donor often leaves healthcare professionals flummoxed would benefit from synthetic blood, according to NHS Blood and Transplant.

“Scientists across the globe have been investigating for a number of years how to manufacture red blood cells to offer an alternative to donated blood to treat patients,” says Dr. Nick Watkins, NHS Blood and Transplant Assistant Director of Research and Development.

Synthetic blood would not benefit those with blood problems the likes of sickle cell anemia or thalassemia, who would continue to receive transfusions of natural blood.

Replacing human blood is not the goal of the operation, according to Dr. Watkins, who says the intention is to provide the appropriate blood product for specific conditions, a sort of customization of blood transfusions.

Patients with complex blood types

It’s part of a five-year research and development plan to advance the practice of blood transfusion, organ transplantation and regenerative medicine, published Thursday.

“The manufactured red cell trials form part of our world-leading work in regenerative medicine and one of eight research goals for 2015 to 2020 that will bring long-term improvements for

patients and donors,” says Dr. Watkins.

The ambitious plan – as the NHS Blood and Transplant describes it – will require a reverse in the ebbing tide of new blood donors to keep patients sufficiently supplied and the price of blood at bay.

It also calls for increasing the number of organ donations from 60 percent to 80 percent and increasing transplant rates by a third to 74 per million UK citizens.

Other parts of the plan include innovative stem cell treatments and research in the interest of blood and

organ safety and developing new technologies to simplify the organ transplant process.

As the project gets underway, three National Institute for Health Research (NIHR) Blood and Transplant Research Units will be appointed to a top university and will work in partnership with NHS Blood and Transplant.

Bill Gates hopeful of AIDS vaccine in 10 years Paris, June 27, 2015 — Billionaire and philanthropist Bill Gates, who spends millions of dollars on AIDS drug development, said yesterday he hoped for a vaccine against the disease within the next decade as a cure remains far off.

“Probably the top priority is a vaccine. If we had a vaccine that can protect people, we can stop the epidemic,” the Microsoft mogul said on the side-lines of an anti-AIDS-themed concert in Paris that he backs.

Since 1981, about 78 million people have been infected by HIV, which destroys immune cells and leaves the body exposed to tuberculosis, pneumonia and other opportunistic diseases.

Thirty-nine million have died, according to UN estimates, and about

35 million are living with the immune system-destroying virus today, overwhelmingly in poor countries.

tial number of people infected... So we have to keep focused (and) get more efficient.”

candidates have failed to put up more than a partial shield, partly because of mutations in the stealthy virus.

Gates said the quest for an AIDS vaccine has taken longer than expected, with many disappointments along the way.

For now, finding a cure does not appear realistic, said Gates. “There’s not even animal studies on that yet.”

Treatment is life-long, carries side effects and for many health systems, the drugs bill is spiralling.

He said that in the next 15 years, he hoped vaccines would have eradicated polio, and stopped the spread of HIV and malaria.

In February, scientists said a new drug tested on monkeys provided an astonishingly effective shield against an animal version of HIV.

His charitable Bill and Melinda Gates Foundation spends about US$400 million a year on AIDS drug research, he told journalists, and will continue to do so for the foreseeable future.

“A vaccine, that’s a big area of funding for our foundation. But even in the best case that’s five years away, and perhaps as long as 10,” he said in a question-and-answer session with young people.

“There will continue to be substan-

Currently, the only way of dealing with HIV are cocktails of antiretroviral drugs, invented in the 1990s, used to suppress replication of the virus.

The search for a vaccine has been one of the most frustrating chapters of the AIDS saga.

Traditional antibody-based vaccine

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July 1-15, 2015 Georgia Asian Times

Misc Asia

Solar Impulse could remain in Japan for a year, says pilot Geneva, June 25, 2-15 — A solar-powered plane attempting to fly around the world must cross the Pacific within a few weeks or it could remain stuck in Japan for a year, its pilot said in an interview published today.

Solar Impulse 2, which has been stranded in Japan for three weeks and had to postpone a planned take off this week due to bad weather over the Pacific, only has a short window for making the next leg of its journey, one of its two pilots, Bertrand Piccard, told the Tribune de Geneve daily.

By early August, the days will become too short for the solar-driven plane to cross the Pacific, and subsequently the Atlantic Ocean safely, he said.

“Before August 5, we must have crossed the Pacific or the Atlantic,” Piccard said, adding that if the team is unable to do so they will have to find a permanent hangar where the fragile aircraft can pass the winter.

If the plane makes it to the United States, it can easily pass the winter there before crossing the Atlantic to complete its around-the-world trip, since the team has a permanent hanger in New York, Piccard said.

His partner, Andre Borschberg, had been scheduled to take off with the plane from the central Japanese city of Nagoya early yesterday bound for Hawaii, on the latest and most ambitious leg of a bid to circumnavigate the globe using only power from the sun.

But after a few agonising hours poring over meteorological forecasts covering the five days and five nights the flight was expected to take, mission chiefs pulled the plug.

“There is still a cold front that is blocking our route. Our meteorologists are constantly evaluating alternative routes,” Piccard said.

He pointed out that Solar Impulse 2 can “fly through clouds for 10 hours, but after that it needs blue skies to recharge its batteries. Otherwise, Andre will have to jump out in a parachute.”

“We can’t take that risk,” he said.

The featherweight flying machine was not supposed to land in Japan on its multi-leg trip around the globe, but bad weather en route from Nanjing, China to Hawaii forced a diversion at the start of June.

Ever since, the crew has been scouring long-range forecasts for an opportunity to restart its record-breaking journey.

Piccard said the many sponsors footing the bill for the project had promised to continue their support, but acknowledged the team would need to figure out how to continue paying salaries to the some 150 people working on the venture if it dragged on.

Tama the cat, cute station master, dies Tokyo, June 25, 2015 — A cat that served as nominal stationmaster on an obscure Japanese branch-line, bringing thousands of extra tourists and spawning a merchandising gold rush has died, a railway spokesman said today.

Tortoiseshell-colored Tama is credited with single-pawedly saving the provincial Kishigawa Line after being appointed as master of the tiny Kishi station.

With the regional railway losing money, the station lost its last human employee in April 2006, passing on the mantle to Tama, who delighted in strolling around her own office wearing the formal uniform cap of Wakayama Electric Railway.

She proved a hit with visitors and word soon spread about the unusual animal arrangement, sparking a rush of media attention that brought fame – and some fortune – to the out-of-theway place.

One study found that in 2007 alone, Tama’s presence had boosted the number of people traveling on the Kishigawa Line by 55,000, injecting a purr-fectly respectable ¥1.1 billion to the local economy.

Wakayama Electric Railway spokeswoman Yoshiko Yamaki said the cat, which was 16, had been ill, but was feline frisky until the end, which came Monday.

“She had had a sinus infection since last month so was being cared for by her owner,” she said.

“But when we visited her with the company president a day before (she died), she stood up and meowed as if she was begging him to hold her.”

The governor of Wakayama, Yoshinobu Nisaka was among those who sent messages of condolence.

“Tama won a great popularity at home and abroad as a super star of tourism. At the news of her loss, I express my deep sorrow and great gratitude,” he said.

The Asahi Shimbun reported that mourners were leaving flowers at the station.

The railway company plans to hold a funeral for her on Sunday, at Kishi Station starting from 12.30pm

Georgia Asian Times Julu 1-15, 2015

Page 17

Misc Asia

One father broke down as he told how his daughter was in intensive care with third degree burns.

“She was attending a music concert… why would there be an explosion?” he wept bewildered.

“More than 80 percent of her body has been scorched,” he told reporters.

The man, who was not named, lashed out at authorities saying they had not contacted him or offered any help.

Witnesees describe “hell” of Taiwan water park blast Taipei, June 28, 2015 — Witnesses described the scene at a Taiwan water park as “hell” after a ball of fire ripped through a crowd, with authorities putting the number of injured at more than 500 on Sunday, almost 200 of them seriously.

The number of those injured in the blast late Saturday, which came as colored powder being sprayed on the partygoers ignited, more than doubled as authorities began to track down victims who had taken themselves to hospital or been ferried there by others.

and images from the scene show many with severe burns being tended by those who escaped.

One male student who sustained minor injuries described the scene as “hell”.

“There was blood everywhere, including in the pool where lots of the injured were soaking themselves for relief from the pain,” he told reporters.

His visibly shaken girlfriend added: “I saw lots of people whose skin was gone.”

Horrifying amateur video footage showed crowds of young revelers dancing in front of a stage and cheering as clouds of green and yellow powder covered them at the “color party”.

Ambulances had struggled to reach the scene, and victims were carried away on rubber rings and inflatable dinghies as friends desperately tried to get them out.

But their joy turned to terror when the powder suddenly erupted into flames engulfing them in an inferno as they ran screaming for their lives.

Bystanders poured bottles of water on the scorched skin of the injured.

Some were dressed only in swimwear

Trails of bloody footprints leading away from the stage remained.

Around 1,000 spectators had been at the Color Play Asia event at the Formosa Fun Coast water park, just outside the capital Taipei, according to officials.

One male witness told local news channel CTI: “It started on the left side of the stage. At the beginning I thought it was part of the special effects of the party but then I realized there was something wrong and people started screaming and running.”

Lee Lih-jong, deputy chief of the health bureau of the New Taipei City government, said 519 people had been injured with 190 of them seriously hurt.

The severely wounded are being treated in intensive care units at 37 different hospitals.

“The reason why the burns were so severe was that in addition to burns to the skin, there were also injuries caused by burns to the respiratory organs from the large amount of colour powder inhaled,” Lee said.

“The next 24 hours will be critical for those severely injured.”

Young victims

The health bureau’s Lee said details of the ages of the victims were not yet available, “but all looked very young, in their 20s or even younger”.

Media reports said some victims had suffered burns to more than 40 percent of their bodies.

“Our initial understanding is this explosion and fire… was caused by the powder spray. It could have been due to the heat of the lights on the stage,” said a spokesman for the New Taipei City fire department.

Deputy fire chief Chen Chung-yueh said Sunday the blast may have been caused by “sparks from machinery or lighting equipment”.

Five people including event manager Lu Chung-chi were detained by police.

They are now being questioned by prosecutors on charges of offenses against public safety and negligence of duties that caused severe injuries, a police spokesman said.

Color Play Asia has also run other “color parties” in Taiwan in the past two years.

Taiwan’s premier Mao Chih-kuo, who visited the injured Sunday, ordered that all such events be banned unless their safety could be assured.