I think their "Watching the World" is a juvenile attempt to report the news, much like the "Weekly Reader" did for 3rd graders when I was in school.
This is so they can tell the R&F, "Hey, you don't need to read the New York Times, the Washington Post, or Scientific American. All the news you need to know can be found right in the latest issue of the Awake! magazine."
What's funny is that I remember these little newsbits from the Awake! from back when I was a kid. (Paraphrased):
"Report says that American automobiles are so low to the ground that they trap exhaust from cars stopped in from of them under the floor boards that seep into the passenger compartment." This was in like 1952-53 when most cars still had a very high profile, except for sports cars. Sports cars were mostly convertibles.
"Scientific studies indicate that more people may die from the side effects of the Salk vaccine then would die from polio."
There were many more like that, of course. There were some real doozies as I remember. But the JWs would accept what they read as gospel and would act accordingly. They still do...
JV