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The Waldorf was built in 1931 by Hilton Hotels founder Conrad Hilton. After a century of use it was outdated and needed major repairs. In 2014 Hilton decided to sell it and hired Blackstone advisors who said it would get about $1 billion. China had just allowed Chinese to buy foreign assets in 2014, and a Chinese founder of a regional insurance company Anbang Group offered $1.9 billion when Hilton knowing that China was keen in acquiring foreign assets priced it at $2 billion. In 2017 only three years later China decided to pull back from allowing private investments of this kind, Anbang's Wu was arrested for business practices. 2017 was the time when Xi at the 19th  Communist CCP Party Congress put forward his ideas for "Socialism with Chinese Characteristics" and made it part of China's Constitution, and launched anti-corruption drive against corrupt business practices. The Waldorf was taken over in this drive by Chinese government. For 10 years China held onto the property and built 375 900 square feet condos in the Waldorf for $6 billion and 375 hotel rooms by the time it reopened in 2025. Was it worth it? Even if China could get $3.2 million for each of 375  900 square foot condos this would generate $1.1 billion. It would take 8 years to generate the remaining $900 million of the $2 billion paid for the Waldorf by Anbang's founder Wu if the Waldorf's 375 rooms were rented out for $1000 a night for 300 days. China would still be at a loss for $6 billion. This type of extravagant business investments characterized Japan in the 1980's and 1990's leading to the gradual stagnation in Japan's economy as other countries caught up in quality control and other production efficiency practices using new IT technologies. China looks to be following the Japanese example with infrastructure overbuilding. The US and EU will catch up in the next wave of investment in America and Europe by 2030 and other Asian economies such as India will also catch up with China. Investment productivity will play a part, new technologies will play a part, and a return of manufacturing to the US and EU, a build of India's manufacturing and logistics will play a part. ...

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India agrees to an immediate ceasefire after a call from Pakistan's head of military operations for a ceasefire. The conflict started with attack on tourism that was reviving the Kashmir economy after three decades through a terrorist attack killing 26 tourists in Phalgam, Kashmir on  April 22, 2025 in the mountains near the Pir Panjal range. 24 million tourists visited Kashmir in 2024. Indian response was swift on May 7 early morning hours attacking 18 terrorist camps inside Pakistan occupied Kashmir and inside Pakistan. India called it a act of self-defense to Pakistan sponsored state terrorism going back to 1947. What is different in this brief 4 day war is that India made it economic with efforts at IMF to make terrorism an issue for loans to Pakistan, and ending the Indus Waters Treaty on water sharing. Pakistan economy is struggling with no debt relief from China, making it turn to the IMF, a politically split population with Opposition leader Imran Khan in jail, and continued domination by the military over civilian govenrment. On May 9 drone attacks were launched from Pakistan using Turkish made drones in large numbers on cities and towns in Gujarat, Rajasthan, Punjab. Blackouts were placed in India by May 8 in all cities in the north and in Pakistan. India responded with its own drones and missile attacks on three military airbases as the war broadened to military targets on May 10. US mediated a ceasefire through Saudis and Turkey. Earlier Saudis and Iran were in New Delhi with whom India has good relations to get a ceasefire. Mr. Trump's efforts behind the scenes secured an agreement. VP Vance had cut short an Indian trip in Jaipur on April 22. India and the US are allies in the Indo-Pacific, and India and Russia have decades of friendly relations. China now uses Pakistan as a proxy state, but does not provide the economic aid it needs, for which it has turned to the IMF.    ...

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In the next 15 years approximately India will have a higher percentage of working age population to non-working age population than China, based on information from the UN and Morgan Stanley. The number of people over 64 and under 15 has declined from 69% to 56% in 2010, according to UN figures. By 2020 the working age population will increase by 136 million in India, compared to 23 million in China. From this it can be seen that a huge demographic change is playing out. As China's economy matures and with the one-child policy in place, China's working age population is expected to decline; just as India's working age population picks up. This should give India momentum in the next 15-20 years, and lead to an increasing growth rate in India, just as China's growth rate slows. India's weak areas are infrastructure, and education. Infrastructure development will accelerate nevertheless, with larger private investments and participation in projects; and India will move up the experience curve as more projects are completed. Education for the poorer classes and in public schools will remain a problem. Private schools are making up for the weakness in this area, and private schools now make up 20% of attendance even in the rural areas according to one estimate. The strong points are democratic structures and the rule of law, private enterprise and private companies, English speaking middle class, and smart initiatives by business to develop low cost products that are affordable for all segments of sciety in India. For instance a $35 laptop developed by the IIT and Indian Institute of Science researchers, and Tata Chemicals development of a filter for 30 rupees or 65 cents that would filter water for a month for a family of five. This will bring the benefits of development to all segments of society as development progresses, and is crucial for balanced development in the poorer parts of Asia. Tata Motors 1 lakh ruppees car concept and the Tata Nano as its tangible product, is another verson of this kind of development being pioneered in India. Being a democratic country makes some processes slower, yet at the same time the private initiative enabled by democratic processes -cultivated over a long period from British times -enables a creative sort of development that could be turned into a distinct advantage....

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Use of oil for transportation has increased from 30% ten years ago to nearly 50% in 2013, according to Sanford Bernstein, as more cars are added to China's roads. This makes it less likely that a slowdown in China's growth will affect demand for oil. Sales of passenger cars increased by 11% in January and February 2014. A study at France's central bank by Gauvin and Rebillard shows only a much smaller effect on oil prices from a hard landing of the Chinese economy, compared to the effect on metal prices. Passenger cars now make up two out of three vehicles on Chinese roads, according to LMC Automotive. The growth in cars is likely to continue, not just in China, but in other emerging markets such as India, Brazil, Mexico and Russia. Metal consumption is different, as it comes mostly from housing, infrastructure and factories which are the most affected parts of the economy in China.

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The issues China faces as it plans the next phase of massive urbanization. Urbanization is a major priority of prime minister Li Keqiang, which was also the focus of his postgraduate work in his student days. In the early 1980's about 20% of China was urbanized, this has changed over three decades to where the figure is 47%, plus 17% for workers working in the cities but classified as rural, a total of 64%. China's plan is to fully integrate 70% of the population or 900 millon into cities by 2025. In 2013 only 35% of the population has a urban residency permit, or hukou. The permit is needed for residents to register their children in local schools or qualify for medical programs in urban locations. One of the problems is the huge cost of doing this which it is feared could lead to inflation and higher debt levels. Currently local governments bear these costs using land sales, and central government transfer payments, but without added financing and unable to issue their own bonds, the local governments strictly limit the use of local school and health services to their own residents keeping out rural newcomers. Local government taking over farmer plots, often without enough compensation is highly unpopular in China. Other problems are- providing a steady stream of earnings for new urban residents from farms, if no employment can be found. So they can sustain themselves- especially as they get past 40 years of age when factory employment is harder to find. The government planners see the larger urban population as a way to shift from a largely export based economy and slowing growth, to a consumption based economy. But critics say the risk is that for this to happen new residents from the farming villages have to find jobs, something the government will have difficulty accomplishing. A permanent underclass of unemployed and other financially strapped citydwellers living around major cities, as has happened with the progress of urbanization in Brazil and Mexico, is something the government would want to avoid. ...

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Sofiya Qureshi and Vyomika Singh along with Foreign Secretary Vikram Misri provide the first public briefing on the Operation Sindoor. They are women officers of the Indian Army and Air Force. The briefing was the first of its kind where details were provided by the Army, Air Force and the Foreign Ministry of India. It was a precisely done briefing showing the terrorist camps in Pakistan, Pakistan Occupied Kashmir and the ones targeted, and the link of each camp with a terrorist attack going back to 25 years. In this way it send the message that it is targeted at preventing this kind of terrorism at the source and as a preventive action to eliminate the chances of future terrorism, especially where it is targeting peaceful economic development and advancement of the whole of India.  Twenty three million tourists have visited Kashmir in 2024 and this has created a surge in the economy of Kashmir and increased the jobs and opportunities, the investment in Kashmir. The attacks at Phalgam are presented then as a direct attempt to turn back the tide of modernization of India. It is what the Japanese Kwantung Army did to suppress democratic forces in Japan and begin a war of imperialism in China. It was rooted before the Kwantung Army in the efforts to suppress the efforts of modernizers such as Sun Yat Sen by the Japanese. Gen. Joe Stilwell of the US led the struggle against the Imperial Japanese Army in China which is too easily forgotten in China as the first step towards the subsequent American effort in the 1990's to engage with China and help it modernize its economy. ...

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Former German chancellor Angela Merkel and foreign minister Steinmeier are singled out for their policies that likely emboldened Russia into its invasion of Ukraine. The DW.com says Merkel's tenure now shows deep seated flaws in leadership with her policies with Russia having gone too far in the other direction and leaving Europe in a vulnerable position. Merkel saw herself as continuing old policies from the period of SPD chancellor Willy Brandt of engaging with Russia, then called the Soviet Union. Yet looking at it closely the policy of Brandt was to reach accomodation with the eastern half of Germany, called the GDR, not to weaken Germany's position. By distancing herself from the US Merkel was in sense out on her own. Consider says DW.com that in 2014 Germany imported 36% of its gas from Moscow, by 2022 when Russia invaded Ukraine it was 55%. The SPD under Gerhard Schroeder and Steinmeier following Schroeder share responsibility with Merkel for this dependence.    A similar integration of the German economy with China's economy happened under the 4 term administration of Angela Merkel. This can be seen in the port of Hamburg. This may have similarly emboldened China in its relations with neighbors in the Indo-Pacific region and with Taiwan. German chancellor Scholz is by one report reading Cambridge historian Brendan Simms- "Europe The Struggle for Supremacy 1453 to the Present." This historical account of the relations of major European states in the 5 centuries before the present period shows the Balance of Power as critical to the liberty and freedom that Britain and Netherlands as well as other countries were able to keep. Sweden was attacked in 1700 with sign of weakness, Britain faced challenges from France in 1700 and in 1800, and allied with the Hapsburgs and German states to maintain its democracy and way of life. Merkel of CSU and Steinmeier of SPD may have failed to realize this when they ignored the history of Europe. The WSJ report on the miscalculations on the German and French side with Sarkozy, Hollande and Macron show that all these leaders failed to grasp that by leaving the issue unsettled of Ukraine's NATO admission they had created the situation that was bad for both Russia and for Ukraine, creating seeds for serious differences that could lead to future conflict and war. By not respecting and giving room to the lessons of history these leaders in Western Europe have created the conditions for the very opposite of what they intended to do.  ...

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Macron started out in the Socialist Party in Amiens, France. After going to elite schooling he joins the Socialist Party ministry of Francois Hollande. As Minister of the Economy he rises rapidly to replace Hollande with his own party called the Movement that he sets up and within a year wins presidential elections. The rapid rise, the lack of his Movement party having much experience and put together quickly with new younger people, his aloof presidency, and a lack of connection with the problems brought on by the deindustrialisation of France as production shifts to China, the problems of lack of work and cost of living in smaller towns in France, lead to Macron's loss of popularity. His party won only 10% of the vote in EU elections and 20% in the first round of Assembly elections in 2024. He is now allied with Sarkozy's Les Republicains, the very party he sought to replace by calling it old school and no longer relevant.  A small faction of the Les Republicains shifts out to ally with the National Rally of Le Pen and together the 2 parties seek a majority or near majority in the Assembly to take the prime minister position under Macron. The result would be a too young at 28 years Bardella as PM and the Socialist Alliance a close second in the National Assembly. Macron would have to come to terms with the Socialists he had abandoned to run the country and appoint Oliver Faure as prime minister if a second round gives his Movement and the Socialists over 50% of the vote. ...

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The director of the MIT Initiative on the Digital Economy says he worries about the effect of automation on work performed by garment workers in countries such as Bangladesh. As machines become adept at performing the difficult tasks performed by humans, automation is spreading in places like Bangladesh. This report shows the Mohammadi Group which makes sweaters for H&M, Zara and other brands replacing 500 workers in its Bangladesh factory with 173 German machines. As wages grow in countries that made garment products such as Bangladesh, India, China and Cambodia are affected. A 2016 International Labor Organization Study predicts some Asian countries could lose as much as 80% of the apparel, textile jobs as automation spreads. This presents a huge problem for these countries as creating high skilled jobs is a challenge in these Asian countries. In Bangladesh where 2 million new jobs are needed each year to keep pace with increasing labor force, the 300,000 new textile industry jobs a year for 2003-2010 have shrunk now to about 60,000 a year, according to World Bank data.  The garment industry in Bangladesh provides 80% of the exports and 3 million  manufacturing jobs, reducing significantly the number of people below the poverty line. After a fire at a garment factory in Bangladesh the government set a monthly minimum wage of $64, an increase of 77%, with automatic annual raises. Factory owners moved to suburbs and used more machines to deal with labor unrest. Some garment workers became rickshaw drivers, a scooter type taxi in India. The Bangladeshi garment industry is continuing to be cost competitive by reducing costs through automation, increasing exports by 19.5% from 2013 to mid 2016, increasing jobs by 4.5% during this period, according to the local industry association figures.   ...

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A survey by Japan's Yomiuri Shimbun newspaper in Feb. 2013 shows 71% support for the Abe government. The effort to reduce the overvalued yen's currency value using monetary policy of the Bank of Japan, fighting deflation by setting a 2% goal for inflation, moral suasion with business leaders to increase wages, are all part of an effort to get the Japanese economy moving again. The Nikkei Stock Average is up nearly one third to 11,000. Unlike previous prime ministers, Abe is prime minister for the second time, and is likely to have a better plan for building public supprt for his economic moves which are described in Japan as "Abenomics." Recent meeings of the EU leaders have taken Japan's currency moves as steps related to fighing deflation and not efforts to manipulate its currency. The Swiss who are major exporting nation like Japan have also taken strong steps to keep their currency at competitive levels, giving Japan a precedent from Europe. With sharply slower growth in emerging markets, in China and India, the revival of growth in Japan would be seen as an encouraging sign in the global economy in 2013-2014....

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John Taylor on the dangers of a loose U.S. monetary policy and the effects this had in fueling a housing bubble in Spain, Ireland and other EU countries. Taylor points to the bubble ocurring in emerging market economies from low interest rates. Taylor says the ECB's interest rate moves in 2003-2005 were affected by the Fed's low interest rates. He estimates the ECB set rates about two percentage points too low leading to housing bubbles in EU countries. A similiar process is taking place today with the Fed's near zero interest rate policy. Taylor points to interest rates in a group of 18 emerging market economies- including Brazil, China, India, Mexico and Turkey, which have held interest rates on average about 5 percentage points below widely used benchmarks fueling a doubling of global commodity prices between 2009-2011. The U.S. Fed's policies make it harder for central banks in emerging market economies to take aggresssive action against bubbles developing in these countries. Taylor says his does not mean that the Fed should not pay attention to the U.S. unemployment rate and long term unemployed, but should keep in mind the negative effects of slowing demand in emerging market economies and in the EU as a result of its monetary policy of keeping rates at near zero for long periods of time. This feeds back to the U.S. economy at a critical time....

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Issues of inequality and lack of upward mobility came up in the last presidential election. A Federal Reserve Survey for 2018 shows the financial fragility facing many Americans. One quarter of working individuals say they do not have any retirement savings. About 17% of households say they cannot pay all their monthly bills. About 40% of Americans say they do not have enough cash to cover an unexpected $400 expense, and would have to rely on credit cards balances or loans from family to make the payment. This survey by the Federal Reserve is done each year since 2013, after the financial crisis hit in 2009 it became more important. Still Americans are showing unusual resilience and upbeat spirit. About 75% say they were doing Ok or living comfortably up from 63% in 2013. And two out of three described lovcal economic conditions as "good" or "excellent."  This shows that the financial vulnerability resulting in the loss of jobs in the U.S. both from jobs lost in manufacturing going overseas,  jobs lost through automation or industrial decline in some sectors, and the hit from job loss during the financial crisis and its aftermath years of 2009-2014 is still leaving a lot of families financially vulnerable. Low interest rates and stagnant wages also meant savings growth for ordinary Americans was less than it should be in a healthy economy without booms and busts. This is also the environment in which the U.S. is tackling challenges to its technological leadership in 5G following a decline in sectors such as autos and electronics, with job losses to Japan and South Korea. New trade agreements are focussed on correcting the imbalance, first with Mexico, South Korea, and now with China. Focus is also on fair wages and labour overseas to raise American wages in key sectors. The damage done by a low interest rate to savings of ordinary Americans outside the stock markets is also being seen as a downside in the boom bust cycle, that includes loss of jobs for vulnerable American families. The rise of the tech sectors has diluted the traditional protections of working class Americans with the shifts and realignment of the major parties. ...

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China and India pass Mexico as immigration to the U.S. from Mexico declines rapidly, as a result of an improving Mexican economy, the 2008-2011 recession in the U.S. with sharp drop in jobs for construction, lower birthrates, and stricter U.S. law enforcement at the U.S. border with Mexico. Researchers using the American Community Survey of the U.S. Census Bureau found immigration from China increased to 147,000 from China, 129,000 from India, as it declined to 125,000 from Mexico, for 2013. This Survey counts a person as an immigrant for a particular year who says he was living abroad previously. Mexico shows a decline from 400,000 in 2000, with steady decline for every year after 2005. In 2000 India and China were at about 75,000, and did not cross the 100,000 mark till 2007. Other Asian countries are also at the top including S. Korea, Philippines and Japan. William Frey documents this surge in diversity in the U.S., -which is supplemented by now common intermarraige between young people from different countries of origin- in his book "Diversity Explosion."...

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Barton Swaim editorial page writer of the WSJ on Vladimir Putin Weekend Interview with Beatrice de Graaf of Utrecht Uiversity and Niels Drost of Clingendael Institute in The Hague, Netherlands - how Western World missed Czar Peter the Great's World View and its shaping Putin's World View creating vast misconceptions when US thinks Russia thinks like western norms.  Could the US have missed a key component of the thinking of Russian leaders in putting themselves in the line of Russian kings (Czars) since the Enlightenment with belief in nationality, autocracy and Empire of the Enlightenment. “Of course he (Putin) also refers to the Second World War, and he does refer to Stalin—but not that much. Far more often he talks about the great Russian czars.” And the great Czars that was important to Putin, de Graaf counts 3000 statues built in Russia to these role models for Putin. In the early years says de Graaf Putin talked incessantly about the modernization of Russia, Russia joining the Modern World in the years of the Enlightenment, Russia fighting off Napoleon and under the Soviets Nazi Germans. Graaf says he talked about- “Peter the Great and European interests, of Catherine the Great and literacy and the Enlightenment. He spoke of Alexander I and Europe joining to defeat Napoleon." Deep down Putin felt in these talks 11,000 of them on the Putin site which puts up his speeches and talks over a 20 year period, which Niels Grost with his fluency in Russian has looked at. Of these 3000 talks and speeches are in this reference to the great Czars. Even before Ukraine there was a sense of hurt that considering the vast expanse that Russia occupies in Europe Russia had by restoring the old Russia by 2000 found itself in a odd predicament. As de Graaf and Swain point out the US market based economy based on GDP, the US presidents such as Bush and Obama saw Russia as a  middle power based on its exports and imports, its trade, its commerce which was the only way they could see the world. This led to a special kind of shortsightedness says this interview in the WSJ. Putin's key adviser says of Russia's goal - to be seen as a Northern European Power (from WSJ) in 2025.Putin sees Russia as looking for "respect," as a goal.  This is where US business may have got it all wrong- the authors say about China and India- and the US, seeing themselves as Empires not in today's Modern World as with imperialist ambitions, but with a historic sense of regional presence across Asia and North America with their rapid modernization. DJT's talk of Canada as a 51st state, one finds US business as accepting the idea that Canada is part of the US regional influence. And under the Monroe Doctrine of 1824 revived by no less than Teddy Roosevelt and FDR, in its cooperation form by JFK in 1960, the regional influence of the United States in the Western Hemisphere is also accepted by US business and the American public. It is this context that the authors say offer an alternative view of the Russian leader and his policies. Beatrice de Graaf and Niels Drost are the author of "Putin's Czarist Dream" At that point there is in addition to nationality, autocracy and Empire of the czars the ideas embedded in Eastern Orthodox Christianity which are different says de Graaf of Utrecht University in Netherlands, from Western Christianity. This Eastern Orthodox Christian idea is a bit different from St. Augustine's just war and discussion of what constitutes a just war, and the definition of that being given under Russian tradition by Russian Czars or leaders who Putin identifies himself with such as Peter the Great. Peter the Great  created the beginnings of Russia as a modern European state in St. Petersburg during the years of the Enlightenment. In the Eastern Asian tradition the Bhagavad Gita also has a discussion of what constitutes a just war so that it extends to different regions of the world not just European. ...

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Mexico sends 80% of its exports to the US, and China a significant $439 billion in additional exports to US, which makes it incredible that for so long it did not take effective action to stop fentanyl flows, and Mexico allowed migrant trafficking across it's borders through 2016-2024. Even in the face of this becoming an explosive issue in the US with DJT elected in 2016 and the Border Wall being built. A silent but still existing in plain sight idea that the US would tolerate such flows became part of the culture in media outlets in the US and Europe and China and other parts of the world, even when there was a storm of discontent building about manufacturing shipped overseas hurting communities in the US since 2010, with added burden of safety endangered in these neighborhoods from fentanyl, drugs and illegal migrants. What worsened this situation and pain in the US was the idea that somehow it was the US's fault, an incomprehensible disdain for the US, US that enabled the modernization of China, Mexico, and Canada's economies. China sends $439 billion in exports more than the US does to China (US exports $143 billion China $582 billion in 2024). It is only surface presentation of indignation of face saving that these trading partners are showing when the real facts point to an extraordinary and incomprehensible disdain for the US as a nation in decline. There is a feeling in parts of Europe of American disdain for  Europe, without mention of the disdain for the US in Europe, China, Mexico and Canada and other parts of the world. Particularly disdain for neglected communities in the US that have suffered for far too long under previous administrations of Clinton-Bush-Obama with shipping of manufacturing and jobs overseas and inaction on drugs and illegal migrant flows. The EU Canada retaliatory approach has not worked. When DJT proposed doubling the tariffs imposed by US in the face of Canada EU retaliatory steps, the EU and Canada pulled back. Part of the reason is that in the case of Canada it is an economy one tenth the size of the US. The other is that there are real concerns on the US side that Canada EU are not playing fairly in trade. And Canada, Mexico, China, have not stopped the flow of fentanyl into the US.  ...

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This very exceptional report from the city of Recife in Brazil's northeastern state of Pernambuco, comes from WSJ reporters Johnson and Jelmayer. It is about the physicians Vanessa van der Linden Mota, and Ana van der Linden Mota, her mother, who first alerted health authorites in Pernambuco about the cases of encephaly and the links to the mosquito Zika Virus in Recife, Brazil. From 147 recorded encephaly cases, and babies born with shrunken skulls or calcified brain structure in 2014 in Brazil, the cases reported jumped to 4,180 suspected cases. Estimates of cases by 2020 for such cases run up to 50,000 to 100,000 if the problem is not tackled. The family of the van der lindens come from Dutch-German immigrants settled in northeastern Brazil, a less developed region of the country. The family is unique with five doctors including neuro pediatricians Ana and Vanessa working in public hospitals in Recife , and father Helio a neuro surgeon. The entire state of Pernambuco has a total of 15 neuropediatricians, according to this report. The Ebola Virus emerged in countries such as Sierra Leone and Liberia which suffered from war and neglect of health infrastructure. Here in Pernambuco state, as reporters Johnson and Jelmayer point out, the problem stems from neglect in public health infrastructure, especially sanitation and drinking water for shantytown dwellers and vast majority of poor residents in a city of 3.5 million, typical of developing countries in Latin America and South Asia, where development in some parts of the country have lagged far behind, and where needed public health infrastructure investments have not been made. Lack of dependable drinking water means collecting water in containers that are susceptible to breeding mosquitoes, such as the mosquitoes carrying the Zika Virus. A public debate on the lack of attention by socialist and worker's party led governments to this type of infrastructure and transportation services was already underway in Brazil leading to widespread protests in 2013. A $226 million investment in a soccer stadium in Recife, and similar investments in other smaller cities in the northeast were made under the Worker's Party government. Large investments for the Olympics now come as the economy contracted in 2015, and Brazil is hurt by another boom-bust cycle with the slowdown in China- with fiscal austerity policies, a loss of a third in the value of its currency, and the popularity rating of the newly elected government from the Worker's Party in single digits....

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Stephen Miller, as both intellectual and organizer, is shaping policy on immigration at the White House as adviser to Kristi Noem, head of Homeland Security. He is a dedicated follower of DJT and White House deputy chief of staff. He also brought Prof. Navarro to the attention of DJT on trade policies.  He was a key figure in the first DJT administration at the age of 31 having served as communications secretary for Senator Jeff Sessions and developed his ideas during the period with Sessions. As director of speech writing and senior adviser to DJT,  he wrote some of president DJT's policy speeches in the first term, the speech to the Republican National Convention 2016 , and the Inaugural Address of 2017,  including the speech on Jan. 6th 2020 following the storming of the Capitol building.  Who is Stephen Miller? He comes from a Jewish family that immigrated in his grandfather's generation in 1903 to Ellis Island from Belarus, during a period of discrimination in Russian regions. During the period on campus at Duke University where he graduated in Political Science, Miller was a follower of a prolific author, David Horowitz. Horowitz was part of the Jewish leftist intellectual movement in New York in the post war period, but after the 1980's joined the Reagan movement and questioned the ideas he had believed in, questioned what he saw as the antisemitism on US campuses. At Santa Monica public school in California in 2000-2003 Stephen Miller questioned the multiculturalism that replaced the America of the founding fathers, that he saw at the school. It is this perspective that also underlies Stephen Miller's ideas about universities, about immigration, about the economy and China under Bush, Obama and Biden. Miller is also an organizer as he set up the America First Legal in 2020 with funding from donors on the right which has filed many lawsuits during Biden's term in office.  ...

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The bottom half of all U.S. households have only recently recovered the wealth lost in the 2009 financial crisis. They still have 32% less wealth than in 2003 when inflation is taken into account. The top 1% of households have more than twice as much as they did in 2003. Wealth is defined as net worth that includes houses , savings and stocks minus any debt. The wealthy have 85% of their wealth in stocks and bonds. For the bottom 50% half of the assets are in the house or family home. Economic and regulatory trends have happened in ways that favored the people investing in stocks, and rescued people investing in stocks with policies designed with this purpose by central banks and the U.S. government. By contrast for the bottom 50% buying a home is more difficult today. The problem this WSJ report points out is that the next recession would most hurt the bottom 50%, even before they have recovered from the last one which was a result of shaky practices of banks in financial lending and not some cyclical swing in the economy. Policy was then geared to provide a recovery first for stock markets as a way to economic recovery. The bottom 50% have little stake in the stock market, the top 1% have most of their gains from the stock market. Much of the popular anger comes from the way policies by both Democrats and Republicans differed little in past administrations in the way they approached this in shaping economic policy. As a result infrastructure building and investments in public services took less priority in this period of 30 years with trade imbalances with China building up on the external front, in another side to this development. The shift to Trump and to right wing populists in Europe is only the first phase in the corrective action that has to take place to return to a fairer distribution of wealth that existed before the last 3 decades. Eventually it is not right wing or left wing factions or parties, but healthy policies, that matter to create a better balance for society.  ...

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This report in the WSJ shows in an extraordinary detailed way going back 20 years how under each administration Bush, Obama, Trump in the US and Angela Merkel in Germany, Hollande and Macron in France, the serious differences in the world view and thinking between president Putin of Russia and western leaders were simply ignored or overlooked. Mr. Putin truly believed in Ukraine and Russia as one people, researched history on his own and wrote an essay that made him more convinced than ever about his views that separation of Ukraine from Russia was an artificial construct, more so in the last two years.  By integrating the German and European Union economies with Russia and China without coming to terms with the large separation in views of the world and ignoring Russian views because of its economic size as an economy the size of France, both Merkel and Obama's policies failed to grasp what was happening. This report shows in much detail each event since 2005 that led to increasing distrust by Putin of western leaders.  The integration of the economies of the west and the integration of supply chains with China and Russia continued even after serious concerns had developed during the Trump administration. US and European business was operating on a completely different path not taking this into account in any way. It was only in the Biden administration and after the election of Scholz in Germany in 2021 that the situation was becoming clear. On the other side Ukraine itself and its people had changed in ways that were not anticipated by people in Germany or Russia, much less the leaders in Germany or Russia. There was a genuine sense that Ukraine was a national identity leading to the Ukraine resistance and a prolonged conflict. Brendan Simms, Cambridge historian shows how Europe went through conflicts and wars in its history as each of the major European nations sought advantage from 1453 to the present in his book, "Europe- The Struggle for Supremacy 1453 to the Present." Small gains were made in these wars that dragged on bringing great suffering to ordinary people.These wars involved England, France, Spain, Netherlands, Germany, Sweden, Denmark and Russia. ...

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The problems Shanghai residents are facing during the covid lockdown in 2022. The experience of a 34 year old technology worker in Shanghai who is sent to a quarantine center in a 16 hour bus ride shows the difficulties people are facing in Shanghai, China. The zero covid policy is affecting the economy and the daily lives of people in China. In the US Democrats shifted away from strict covid protocols in 2021 after realizing that there were economic costs and costs for daily living of ordinary people, with lockdowns becoming less frequent in states such as Michigan, New York and California.

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China's healthcare system is overburdened and overwhelmed, says this report in the NYT. The changes in living and investment in infrastructure and housing are not matched by similar investments in the health system. Shortages of hospital beds and doctors is making tackling the coronavirus in the Wuhan region more difficult. A new hospital is being built in 6 days in late January 2020 in Wuhan for the coronavirus patients, showing how severe the situation is. 

The lack of strict regulation and lack of enforcement at the local level is leading to the situation where the virus was detected in twice- in 2003 in wild animal meat and again in 2019. Public anger and call for a ban on wild animal meat is happening today.

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Speaking at a banking conference, advisors including the head of Russia's largest retail bank Sberbank, German Gref, minister of the economy, Aleksei Ulyukayev, and head of the central bank , Elvira Nabiullina, express deep concern about the economic prospects in 2015. Foreign investment is down from about $90 billion in the 1st quarter of 2013 to a negligible amount in the 3rd quarter of 2014. Capital outflows following the Ukraine crisis are estimated at about $110 billion by former finance minister Alexsei Kudrin. The ruble dropped to its lowest level against the dollar since the 1990's. And the sharp decline in oil prices with Brent crude at about $90 is another risk factor as 50% of the budget comes from oil and gas revenues and 60% of exports are still oil and gas, with no serious or effective effort to diversify under the Putin adminstration. Putin told the banking conference that a deficit free budget and reserves of $460 billion are "fundamental factors supporting stability." Advisors and leading bankers remain unconvinced. The problem is that even at the beginning of 2014 before the Ukraine crisis foreign investment had slowed to a trickle, similiar to what India experienced in 2013. The central bank head says her effort to open up the bond markets in Russia to foreign investors is now in vain because there are few foreign investors. Instead of reversing the situation as is happening in India with the new Modi administration, policy under Putin and the Ukraine conflict may have scared investors away with the increasing western sanctions and stagflation (estimated 8% inflation and about 0.5% growth in 2014). The head of Sberbank Mr. Gref told the banking conference- "The Soviet Union broke apart because of the mind boggling incompetence of the Soviet leadership. They did not respect the laws of economic development." The problem with sovereign reserves is that it can protect a sovereign currency such the Russian ruble or the Brazilian cruzeiro to some extent, but today's vibrant economies need foreign investment and foreign technology for growth. Even a country such as China with a trillion dollars in reserves needs the reserves in its special case because of its billion plus aging population, and is no exception to these laws of economic development about the need for foreign technology and foreign investment. ...

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China's strategy for climate change action makes allowance for the need for coal as base energy, and insurance to prevent factory shutdowns from shortfalls of hydroelectric energy in drought seasons. It planned 80GW in 2024 for new coal powered plant construction. 

What should the US do? DJT and Republicans including North Dakota Governor Borghum say the US should also make some room for this in transition policy. DJT calls it "drill baby drill." Yet it is more nuanced than that, it means US will produce natural gas to supply Europe and keep gas and electricity prices down as a cost of living action. DJT knows industry has already put in plans for renewable energy production, it just won't be accelerated in ways that won't let the US economy grow. This is the rational for Alaska oil and gas and rare minerals policies shown alongside this article.

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With the aggressive actions taken along the 1600 kilometre border in eastern Ladakh by China's People's Liberation Army, India needs a younger soldier to protect the border at high altitudes in below freezing temperatures. The entire 3500 kilometre border in the high Himalayan regions from east to west need technology driven surveillance with soldiers fit and ready for such duty. Agnipath's goal is to bring down the average age in the army from 32 years to 26 years to better reflect the youthful population in India. A tighter better disciplined force with high tech is needed. Bringing in more and new recruits is intended. Both the 25% of recruits retained after 4 years benefit and the 75% benefit. The 25% will have opportunities to move up the ranks. The 75% who come back out of the military will have the advanced technical training and courses, certification, that would make them attractive to the public and private sector companies in 2026 and beyond when India's economy will be 50% larger than today at growth rates of 10-12%. This is already seen in the way technologically trained military recruits from World War II in the US Army, Navy and Air Force were quickly absorbed at high salaries in the high growth period of America 1950-1970, with incentives like the GI Bill. Modifications that could be discussed- The 25% retained after 4 years. There is no magic number it could be raised to 30 or 40% during these post pandemic years and then lowered to 25% as the economy grows rapidly by 2025, or kept at 30% without changes, a number of options could be open.The financial aspect of the training can be modified where the 25% retained could have these 4 years added to their years for calculating pensions. The 75% are given 1.2 million rupees and even this can be adjusted upwards so that they could start businesses as entrepreneurs or have the time to pursue higher education before taking up for example with free education to enhance their education in areas of interest as was given by the GI bill to Americans in the armed services after World War II in 1946. Ideas from the GI Bill signed by president Franklin Roosvelt in 1944- Adding one year of unemployment payments, low interest loans to start a farm or business, full tution and living expenses for college. In 2008 the Veterans Act in the US continued support for education of servicement by making eduction free at a public college or university.  The Roosevelt GI bill benefited about 7.8 million servicemen in the US armed services. 2.2 million went to college, 7.6 million took training programs. It was an impressive achievement. No scheme is perfect there are budgetary constraints such as how to manage pensions to give the armed services the best possible funding including the training and course capabilities that also need good financing and the higher pensions for armed services. Every political party  government around the world without exception will have to face these budgetary constraints and the goal is to do right by the armed services providing the income and opportunities they deserve. Was a decent effort made with the right goals set? This is how these matters of national interest for India and the Free World that includes South East Asia, Africa and Latin America, should be discussed.    ...

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Across Africa the situation is worsening for food security following the pandemic. More people are likely to die from food insecurity than from the pandemic. A succession of crises including drought, a locust swarm moving over vast parts east Africa into South Asia, and tons of crops rotting in the field after the lockdowns, are making the situation worse. With the lockdowns many informal economy workers are not able to earn a living, with no safety net this means they are going without food and slipping deeper into poverty. Remittances from overseas supported many people in the developing countries of Asia, Africa and Latin America, and this has dropped by about 20-30%. As a result the World Food Program estimated in April that 265 million people, double that in 2019 will face world hunger- 3 in every 100 in the world. About 821 million will face food insecurity. The world food system is fragile with just none plant species accounting for two thirds the global crop, with threats of soil erosion, rising temperatures, extreme weather and disease. Wars, high inflation, political struggles, and conflicts make things worse. The hope comes from the fact that this time the largest countries China and India are emerging in 2020 very different from what they faced for most of the nineteenth century, with recurring famines and lack of access to food supplies. India now even allows farmers to export food to buyers in other countries directly. Getting money into the hands of farmers and people in food insecurity areas is one way for them to access existing food supplies all over the world. ...