Honda, Japan's second-biggest carmaker after crisis-hit Toyota, has recalled more than 400,000 vehicles to fix airbags that it said can explode and spray out potentially deadly metal shards. The latest safety recall adds to the woes of Japan's auto industry, a key export earner of Asia's largest economy, since Toyota has made global headlines over its faulty accelerator and brake systems.

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In response to the United States' latest arms sale to Taiwan, the Chinese military has suggested that China sell off some of the US debt it owns to give America an economic punch of sorts.

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Competition from trains that can travel at 350 km per hour is forcing Chinese carriers to cut prices as much as 80% at a time when they are already in a round of mergers to lower costs. These trains will also erode a market that Boeing and Airbus are banking on to provide about 13% of plane sales over the next 20 years.

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