China
China on Thursday launched a Long March-2D carrier rocket, placing two new satellites into space.
The rocket blasted off at 06:51 (Beijing Time) from the Taiyuan Satellite Launch Center in north China's Shanxi Province and sent the pair of satellites, Siwei Gaojing-2 05 and Siwei Gaojing-2 06, into their preset orbit.
It was the 634th flight mission of the Long March series rockets.
China launches two new satellites
A Japanese expert warned that rising oil prices are beginning to slow Japan's economic recovery and push up overall prices, and that tapping national oil reserves is not a long-term solution.
Japan will start releasing oil from state reserves on Thursday as concerns over supply mount amid the ongoing U.S.-Israeli strikes on Iran.
The measure, announced by Prime Minister Sanae Takaichi during a meeting of relevant Cabinet members to discuss ways to cushion the impact of the tensions in the Middle East on the Japanese economy, comes after Japan started releasing oil from private-sector stockpiles last Monday.
Masatoshi Kojima, a professor in the Department of Business Administration at Momoyama Gakuin University, said the policy assumes the Middle East crisis will end soon; if it doesn't, the policy will require a dramatic adjustment.
"In fact, I don't believe that the current policy (of releasing oil reserves) is sustainable in the long term. The policy currently rests on the assumption that the crisis in the Middle East will end soon. If it drags on, I think the policy will need significant adjustment," said Kojima.
On the economy, Kojima warned that continued rises in crude oil prices would put long-term pressure on Japan.
"The Japanese economy is recovering steadily, but ongoing Middle East tensions could have a major impact. If the crisis is resolved quickly, the damage will be limited. However, given the uncertainty, if consumers and investors start cutting back, the economic fallout could be far greater than expected even after the tensions end," said Kojima.
Releasing state oil reserves not long-term solution for government: Japanese expert
