The present progressive tense is used for events that have started, are happening now and you expect to stop in the future. You can use this to talk about events within somebody's life, but the tense is equally valid for global events. Here are some examples:
#1) North Koreans are mourning the death of their great leader.
#2) The United States is going through it's election process.
#3) The European economy isn't expanding. It is contracting.
#4) People aren't investing in Europe anymore.
#5) Demonstrations are happening in Syria.
#6) Tensions are rising in parts of the Middle East.
#7) Flood waters are rising in Thailand.
#8) Workers are losing their jobs in England.
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