Ballistic Missile Attack on US Base

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Global Recap
November 22, 2023 • Read in: 8 minutes

Hi Global Recap readers,

Right after we hit send yesterday, Israel and Hamas agreed to a ceasefire. I remember thinking to myself just before clicking the button:

“There’s no way Israel is announcing anything now.”

Let’s hope we don’t jinx it again today with another major update. 🤞

🌐 Around the world:

  • Ballistic Missiles fall on a US base.

  • Israel-Hamas ceasefire okayed.

  • Wagner is giving weapons to Iran or Hezbollah.

  • Pakistan eyes BRICS membership.

  • Another Chinese CEO: Arrested.

Let’s get into today’s news.

🚀 Ballistic Missile Attack on US Base

Iranian-backed militias launched a ballistic missile attack on a US base in Iraq, injuring eight US service members and damaging some infrastructure.

The US retaliated with a gunship strike, killing several militia members involved in the attack.

  • Missile: The attack used a close-range ballistic missile, the first of its kind since Oct. 17.

  • Attack Count: This was the 66th attack against US-affiliated bases in Iraq and Syria since Oct. 17.

  • Injury Count: The attack resulted in eight US injuries, adding to the 62 US personnel injured in previous attacks.

🇮🇱 Israel-Hamas Ceasefire

Israel and Hamas agreed to a four-day truce to swap hostages and prisoners, bringing a brief pause to the war in Gaza. The temporary ceasefire will begin Thursday morning.

  • Hostages: Hamas will release 50 hostages in exchange for 150 Palestinian prisoners held by Israel.

  • Extension: Truce will be extended daily for every 10 additional hostages released.

  • Aid: Israel has agreed to allow more fuel and humanitarian aid into Gaza, despite its concerns that Hamas might divert some of the supplies.

  • Flights: Hamas said Israel’s warplanes would stop flying over southern Gaza during the truce and for six hours daily over the north. But Israel didn’t mention halting flights.

  • Future: The truce will only last four days unless more hostages are released. Israel is expected to resume its offensive after the truce ends.

🇷🇺 Wagner Supplying Weapons

You thought the Wagner Group was finished after its leader, Prigozhin, was blown up, right? Not really.

The US has revealed that the Wagner Group is plotting to give an air defense system to Lebanon’s Hezbollah or Iran.

The system, known as a Pantsir, is a Russian-made missile launcher that can shoot down planes and drones.

  • Wagner: Wagner is a notorious private military company that works for the Russian government. It has been involved in conflicts in Syria, Libya, and Ukraine.

  • Hezbollah: Hezbollah is an Iran-backed militant group that is fighting against Israel. It has a history of collaboration with Wagner in Syria.

  • Why Now? The US is worried that Hezbollah might join the war in Gaza, where Israel is battling Hamas. The US has been warning Hezbollah and other Iran’s proxy groups not to escalate the situation.

🇵🇰 Pakistan Eyes BRICS Membership

Pakistan has officially applied to join the BRICS group of emerging economies, hoping to get support from Russia in 2024.

The group, which consists of Brazil, Russia, India, China, and South Africa, is planning to expand its membership and influence.

  • Motivation: Pakistan wants to be part of the “important organization” that lets other countries. Pakistan may benefit from the group’s initiatives in trade, finance, health, and security.

  • Challenge: Pakistan may face opposition from India, its rival neighbor, and a founding member of BRICS.

China

Another Chinese CEO Disappears

Chen Shaojie, the CEO of DouYu.

🎮 DouYu CEO Arrested. In the wake of vanishing Chinese CEOs, the CEO of China’s leading video game live-streaming giant is now confirmed to be under police control.

🕹️ What is DouYu? DouYu, China’s gaming live-stream titan, boasts 200 million monthly active users. This billion-dollar behemoth, backed by Tencent, is the brainchild of Chen Shaojie, who took it from zero to a Wall Street IPO in 2019.

🚨 Disappearance. But Chen’s success story came to an abrupt halt when he suddenly went missing in late October.

🔥 The Fire. DouYu had been under fire from Chinese authorities for allegedly hosting illegal, immoral, and “problematic” content on its platform, such as pornography, gambling, and vulgarity.

  • December 2022: Three individuals running an account on the platform were sentenced to up to six years in prison for “opening casinos.”

  • May 2023: The Cyberspace Administration of China confirmed that it dispatched a “working group” to probe into the operations of DouYu.

  • October 2023: Chen becomes “unreachable.”

🚔 The Arrest. Finally, on Wednesday, the Chengdu police department announced the arrest of a 39-year-old man surnamed “Chen” on suspicion of “opening a casino.”

😱 The Uncertain Future. On November 21, DouYu confirmed the arrest of its CEO in a regulatory filing and further reassured that it was operating normally and working on contingency plans in response to Chen’s arrest. But it also warned that his detention could have a “material adverse impact” on its business and reputation.

  • The company’s shares dropped in New York on Tuesday. The fate of Chen and DouYu remains unclear.

  • The company stated that is clueless about the official reasons and charges for Chen’s arrest, as the Chengdu police kept mum.

🔥 Why It Matters. Chen is not the only Chinese business tycoon who has fallen from grace this year. More Chinese leaders from industries such as tech, finance, and real estate have faced disappearance, detention, or corruption probes.

🇨🇳 China’s Dilemma. The CCP has been tightening regulations on internet platforms, citing concerns over data security, antitrust, and social stability. But as it cracks down on social woes, it also spooks foreign investors, who are left in the dark about the rules and risks in the country’s volatile business landscape.