The 10 most important things in the world right now

Pyeongyang Press Corps/Getty Images South Korean President Moon Jae-in (L) and North Korean leader Kim Jong Un at Paekhwawon State Guesthouse in Pyongyang, North Korea.

Hello! Here’s what’s happening on Wednesday.

1. South Korea’s President Moon Jae-in and North Korean leader Kim Jong Un say they have agreed to turn the Korean peninsula into a “land of peace without nuclear weapons and nuclear threats”. One of the key parts of the September Pyongyang Joint Declaration included the “permanent dismantlement” of North Korea’s primary nuclear facility in Yongbyon, and allowing international inspectors to observe the disassembly of an engine test site.

2. Syrian air defences brought down an allied aircraft, killing 15 Russian service members on an Il-20 spy plane during an air battle over the Mediterranean. Russia initially blamed the shoot down on a purposeful attempt by Israel to trick Syria into the friendly fire, but Russian President Vladimir Putin later referred to the event as an accident.

3. The US-China trade war gears up to another level with China hitting back with tariffs on $60 billion of US goods, less than 24 hours after President Donald Trump announced new tariffs on $200 billion of Chinese goods. The Chinese Ministry of Commerce it would levy tariffs of 5% to 10% to take effect September 24, the same day the latest ones imposed by the US are scheduled to start.

4. The trade war between US and China could last 20 years and have a bigger impact than most people think, says Jack Ma, the founder and executive chairman of Alibaba, the largest e-commerce site in China. “It’s going to last long, it’s going to be a mess,” the tech tycoon said.

5. Supreme Court nominee Brett Kavanaugh, accused of sexually assaulting a teenage girl when he was in high school, is in limbo as lawmakers contemplate additional hearings and delaying procedural hurdles and votes necessary to advance the confirmation process. His accuser, Christine Blasey Ford, a 51-year-old research psychologist, wants the FBI to investigate her claims before she testifies to Senate committee.

6. Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund, says the economy looks like it did in the late 1930s in many ways: interest rates hit zero in the early stage of each crisis, asset prices are near full capacity, interest rates are still low, the wealth gap has widened, populism is on the rise, and global tensions are rising.

7. Netflix and Amazon won big at the Emmys, winning multiple acting categories for shows including “The Crown,” “Godless,” and (already canceled) “Seven Seconds.” HBO won the same number of Emmys as Netflix, thanks to some major wins for “Game of Thrones” and “Barry.”

8. Elon Musk’s final iteration of SpaceX’s biggest and most powerful rocket ship. Billionaire Yasuka Maezawa, or “MZ” as SpaceX‘s newest benefactor prefers to be called, hopes to pile six to eight artists inside SpaceX’s giant new launch system called BFR, which stands for Big Falcon Rocket, and voyage around the moon on a trip that would take about six days.

9. A mansion in Hong Kong could break the record as the most expensive home sold in the world’s most expensive housing market. The building in the wealthy Peak neighborhood was built in 1991. The current record is held by a house in the same neighborhood, selling for $US360 million in January this year.

10. Canva, a graphic-design tool website founded in 2012 in Australia, has a farm, an indoor climbing wall, and gives employees equity and birthday cocktails. Both Great Place to Work and LinkedIn named the company the number one workplace in Australia.

And finally …
Before and after photos show how quickly ice is disappearing on Swiss glaciers

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.