World-Wide News Events: China Crisis Chiang Kai Chek, resuming the reins of government looks to his defenses on Formosa. Navy and air forces are on the alert and ready for action, but in Hong Kong, American-owned planes worth $29,000,000 are turned over by a British court to Chinese reds. The pilots sit in a circle going over a flight plan. Two military men loading the plane's wing with ammunition. Pilots are climbing into the planes, take off.