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India's effort to turn coronavirus into an opportunity to plan future growth around "AtmanNirbhar Bharat" a self reliant economy that is working closely with allies Britain and France in Europe and Japan, Taiwan in Asia, with the U.S. for shift of supply chains to India, promoting accelerated investment in local manufacturing, and building the third largest economy after the U.S. and China. President Trump has stated supply chains in their existing form have not served America well, if at all.  Mr. Trump said about existing supply chains-"I said we should not have supply chains." Gandhian self sufficiency was of a different sort when the nation was not independent. It serves as a symbol today of the spirit of the freedom struggle and in this sense revives the capacity of the nation to take on new challenges. Nehru's was a peculiar sort of socialism that set a pathway to early industrial development but lacked the will and spirit to pull the nation out of dependence on agriculture for most of the population,and move it with a combination of land, labor and laws, with a quantum leap in technology into a new world that is the plan today.  ...

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To make a dent in carbon emissions governments in Europe and North America need to support the use of low carbon solar panels in solar facilities installed there. This would enhance solar energy panel production in the US and Europe, India, other countries. Experts say the use of solar panels made using electricity from coal use in China creates more emissions in China while reducing emissions in the West. The result is that global emissions remain the same as if no solar panels were installed.  The global solar panel production is mostly concentrated in China because of the lower cost of electricity from coal used in production of panels- a critical factor in the lower prices of Chinese made solar panels. This allowed China to gain a monopoly in production of  world's polysilicon, an essential component in solar panel production, that consumes large amounts of electricity in the manufacturing process.  This use of coal generates twice the amount of carbon emissions in China than the solar panels made in Europe, say experts. As a result the governments and companies in Europe, US and India are shifting to local manufacturing of solar panels. ...

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How third party candidates in 2016 put Trump in the White House is shown in graphs in the WSJ. Since 2000 about 2% of the vote goes to third party candidates such as Greens, Libertarian, and others, in 2016 this reached 6%. It hurt Clinton the most as the Trump lead in Michigan, Pennsylvania and Wisconsin was merely 5-10% of 200,000-300,000 votes for independent candidates in Wisconsin,  in Michigan and in Pennsylvania. Hillary Clinton lacked clear focus in her campaign and her years as overseas traveling foreign minister left her out of touch with the alienation of the working class and fragmentation as Silicon valley tech and financial interests intruded into the Democratic party. This had the effect of muddying the focus on the Democrats FDR/Truman working class base and also with America's rural voters suffering from a toxic mix of problems. In 2024 the Kennedy candidacy takes as many or more votes from Mr. Trump says the WSJ. The Biden focus on workers and families gives the Democrats a clear direction along with wage gains by union labor and a resilient economy with low unemployment. This suggests that the independent candidates may not find more traction than the 2% of previous elections since 2000. ...

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Casey Phair was born in South Korea and came to New Jersey when she was one month old. She plays for South Korea and at 16 she is the youngest player in the World Cup Women 's Soccer in 2023. She plays for a Development Academy that trains young aspiring players in South Korea. More of these academies are cropping up all over the world. Then there is Giulia Dragoni of Italy also 16 years, three Philippines players are teenagers. Linda Calcedo of Columbia is at 18 years the youngest goal scorer. Alyssa Thompson in the US team at 18 years is hoping to replace older players such as Alex Morgan. More talent is coming into the women's soccer game all over the world and the US lead is shrinking. Much of this talent starting at younger ages and players getting better facilities. Countries in Asia, Latin America and Africa are drawing on young players of ethnic links to their home country practicing in the US. This was clear when the Philippines beat New Zealand, Nigeria beat Australia, and the US hung on to a draw with Netherlands. France held to a draw against Jamaica. ...

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This story of soccer players is true for many of the best, coming close for the fans is not enough, many finals and superb performances are not enough. This is true for coaches. The same could be said for England coach Gareth Southgate, coming close for fans is not enough. Yet for the hundreds of millions around the world who enjoyed the Euro Finals it was a really good game with England so close to the very end with a bunch of repeated headers any one of which could have ended up in the Spanish goal. Speaking of Harry Kane one can think of Toni Kroos who is has played for Germany 108 times. Germany as the host country did not make it to the semifinals. It was Toni Kroos's last game, a player as gifted and patient as Harry Kane. Lionel Messi did not score in the Copa America Finals game against Columbia, in extra time Lautaro Martinez scored the only goal in Miami. Still the golden boot went to Dani Olmo and Harry Kane of the Spanish and English teams, such was the extent of their effort, giving it their all, and the people watching the game all over the world thank them for it. ...

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In this part of northern Burgundy, France, small towns and rural area are feeling the neglect that is happening. Neglect that Macron has done little about. Doctors offices close, transport services are reduced, other public services are being cut, the cost of living remains a problem for families struggling to make a living. This report in NYT looks at the situation that makes people turn to the RN party. Yet as shown in other reports where RN party is already governing solutions have not been found to these problems. In one report on July 5 from another rural part of France near the Pyrenees the RN city government was mainly about the looks and television not solutions, providing clean neighborhoods,  saying crime was down when this was not serious to begin with. The RN is not about investing in the rural areas of France, in small and midsized towns. Only the United Front Populaire socialist parties are planning to invest $140 billion to provide solutions and yet both Macron and the RN of Le Pen say derogatory things about the socialist parties alliance painting them as extreme and not being honest that rural France needs investment, just as rural America needs investment, for a better life. ...

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A Hyundai shipyard can build a military ship for $600 million that would cost the US about three times that number -$1.6 billion. South Korea can control costs with its marine shipyard capacity to build 40 ships a year in shorter time frame by 20 months. Note that the US had 17 shipyards in 1970, by 2020 it had dropped to 5 ships. Why is this a problem? China has this type of advantage in cost and expertise so that it would be even with the US current capacity by 2030.  Naval power made it possible for first Britain and then the US to provide the structure for the Modern World based on science and technology to grow and improve living standards. Unlike in the colonial era the US has helped raise living standards in China, India, South Korea, Indonesia, all parts of the world.  An administration that has focus and concentration in its leadership and is based on a concept of the Modern World based on science and technology is best suited for the task of renewing America for its role for the next generation of Americans. ...

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African continent debt reached $1.1 trillion in 2024. About 900 million people live in African countries where interest payments on debt exceed money spent on healthcare and education. In Nigeria external debt is $40 billion, in Kenya $35 billion and Uganda $12 billion.  Take Nigeria with 220 million people. 40% of the revenue collected goes to meet interest payments on debt. For many African countries there is zero per capita income growth for a decade. During the 2010 crisis as interest rates reached new lows US and European Reagan era intellectuals including Democrats encouraged African countries to borrow at low rates and banks loosened restrictions putting more African countries into debt buildup borrowings. As interest rates went up the cost of paying the debt accumulated required more loans at higher interest rates. Nigeria paid a premium over that of 10% for a loan of $2 billion just for interest payments. The debt crisis means African currencies depreciate reducing purchasing power.  With war in Ukraine and Covid prices of food and energy rose. Only the strong and disciplined leadership and rapid industrialization provided breathing room as with Modi in India, Jinping in China, the African continent and Latin America lacked this and are feeling the pain. ...

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Allyson Chiu and Emily Wright show how inventors in India are working on more efficient residential air conditioning units that cool single rooms. About 1.2 billion units are there across the globe, billions more may be needed to replace the old ones and to meet surging demand in Asia, Latin America and Africa. International Energy Agency estimate is for these AC units to triple by 2050 what they are now, adding 2.4 billion AC units. Using the existing technology and emissions would mean putting 2 billion metric tons of emissions from these older AC units into the atmosphere in 2050 or what 476 million cars put out, says IEA.  The Indian government, RMI, a global coalition including Gree of China, and Daikin of Japan are doing the research on new AC units. In 2015 about 5% of India's 300 million households had such AC units. 8-10 million units were sold in 2023. This would rise to 1 billion units sold and installed by 2050 says IEA, that would emit 25 gigatons of cumulative emissions in 2050, or what a staggering  6 billion gas powered cars emit. ...

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NYT says DJT would use tariffs "as a economic sledgehammer to nations that refuse to meet his demands" and claims not to know what they are. Saying further that DJT has been far less clear about what those demands were. NYT has clearly not followed what DJT has said time and again. It is OK to use economic power when Canada and Mexico, and China have not taken the action they could have taken a long time back that they are now taking, and will take, after years of acting as if they could not see the fentanyl flows across its borders destroying America. These countries two land neighbors of the US and the last a country which from the open door policy against European colonial Empires and through the Joe Stillwell years in the War against Japanese colonialism in China, and in the years of China's building its economy in the 1990-2010 period, offered a helping hand. It makes the victim -and one that had reversed TR's advice about carrying big stick and speaking softly to its bitter regret- the bully, in the words of the NYT.   ...

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Black Rock's collection of $10 trillion in passive assets or shares in firms that it manages for investors, including pension funds, brings with it voting rights for these shares. About 45% of investors have now expressed interest in doing the voting themselves. The voting provides Black Rock and other passive index tracking funds enormous leverage over thousands of American companies.

This voting rights power it can use to support Black Rock's stance on social issues. Recently Republican senators introduced a bill calling for individual investors in passive funds to have the option of voting their own shares instead of Black Rock or some passive index tracking fund doing it for them. 

Black Rock has responded with a voting choice platform that now has $520 billion of the $10 trillion it manages for investors.

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Fed Governor Waller, a research director of the St Louis Fed argued that in the post pandemic situation fighting inflation would not increase unemployment. The actual decisions were made by Fed chairman Jerome Powell who also grasped the situation and gave priority to winning the fight against inflation. In his arguments Powell pointed out the disturbing effects of inflation on workers. Powell's determined effort and careful policy management also made it possible to bring inflation down- the manner and way this was achieved and Powell showing a sensitivity to workers and their interests. Powell also communicated this effectively and the Biden administration made this possible through its efforts to rebuild American manufacturing, its investments in infrastructure and getting bipartisan deals through Congress. Without this combined effort by Biden and Powell this may not have worked out the way it did. 

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Nineteen year old Belgian Zara Rutherford becomes the youngest woman to fly solo roundtrip around the world. Her parents are avid pilots and she learned to fly at the age of 14. She took off in a microlight plane Shark Aero on Aug 18 and landed after 52,000 kilometres of flying in Flanders on Jan. 20. She went through UK, Greenland, Americas, Siberia, Southeast Asia, India, Saudi Arabia and Europe. In that journey she went through freezing temperatures over Siberia, smog in India and wildfires over the US northwest.

She plans to study electrical engineering and would like to see more girls taking interest in science and engineering, and in flying planes.

Her approach was bold and straightforward. It was a trip that she thought was- impossible, expensive, complicated, dangerous, a logistical nightmare, so she never thought about it twice. 

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After severe weather related events in the last 4 years, droughts, fires, earthquakes, and floods, insurers have felt the brunt of climate change. Most insurers in the US have responded to this by cutting back on fossils, not State Farm and Berkshire Hathaway which are still betting on fossil fuels with multibillion dollar bets on oil companies, says this WSJ Exclusive report. WSJ reports that the fossil fuel holdings of casualty and property insurers are now $85 billion compared to $54 billion in 2014, now 4.4 percent of the portfolio of these companies compared to 3.8 percent in 2014. This is part of Lyrarc's Climate Change Action Guage, you can see other articles on this section clicking on Climate Change Action on the left bar navigation. It keeps track of a crucial part of American and World Renewal.

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Scientist Kim Mishra at the Swiss Federal Institute of Technology has come up with a method to make chocolate not just from the cocoa seeds discarding the pulp, husk and juice as is done today. This is wasteful. The new method uses the cocoa pulp, the husk and the juice as a way to make chocolate without sugar and use the whole fruit. This will reduce the impact on the climate with more chocolate production and less deforestation for new cocoa planted in South American countries as an addition to production in African countries like Ghana. It will also benefit cocoa farmers in Africa and Guatemala by increasing their income. This report looks at the colonial past of chocolate production by companies such as Lindt as Swiss producers worked with French and British colonies to expand production in the late 19th century.

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An enormous achievement of president Joe Biden and of the Federal Reserve's Powell goes unrecognized with the highest growth of any the economically developed nations by far in the US, as groups stuck in old frayed concepts of economic orthodoxy and wanting to keep as FDR said "their place in the economic order," work to denigrate this achievement. They have sold trickle down economics, broken some common sense rules about failures in indiscriminate use of tariffs from the 1930's, which will put at risk this remarkable growth in the US economy. And does the current economic leadership respect Rural White people, Republicans in Republican States Absolutely. It is sending the largest part of the IRA Act funds to these states. It is also standing up for workers and families even on the picket lines for higher wages, a better future for America. True it is that in 4 years the effects of problems that were unanticipated from the pandemic relief and the supply chain crisis with ensuing inflation and price gouging in groceries and essential items, have affected the most depressed groups in America including blacks and Latinos and rural White Americans. These also are largely in the process of being overcome.      ...

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A Peterson Institute of International Economics study on the TPP trade agreement shows it would reduce growth in the U.S. manufacturing sector by a fifth, according to this report in the NYT. Workers incomes and job losses in manufacturing are a key concern for voters and account for the surge in polls for Trump and Sanders in the U.S. presidential election of 2016. All four leading candidates Clinton, Sanders, Trump and Cruz oppose the TPP agreement. Congress will wait till after the election to decide. This is a big issue today because about 5 million jobs have been lost in 1977-2014, according to the Alliance for American Manufacturing. The Peterson study predicts job losses of 50,000 a year, yet another study by Tufts University predicts job losses of 450,000 a year. Another study by the Economic Policy Institute study shows other damaging effects such as labor's share of national income declining from the TPP.

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Bill Gates on how to improve education in American schools by focussing on excellence in teaching. Excellence in teaching is the single most important variable in education, says Gates. The task, he says, is to identify the excellent teachers and transfer those skills to other teachers. He makes no mention of enriching the teacher pool, by attracting brighter education oriented people from society into teaching. He make some generalizations about class size and teachers studying for advanced degrees, saying they have no impact on educational achievement. This may be relative to the situation, depending on the actual class size and the numbers involved. And higher educational attainment by teachers is hardly a drawback in what the teacher can impart to students. It shows teachers actively engaged in the educational process themselves. Gates talks about improving education without additional spending, but does not address the issue of cuts in education spending in states that are reducing deficits. ...

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US secretary of state Anthony Blinken meets Indian foreign minister Jaishankar, and prime minister Modi in New Delhi. India and the US are working together on how to make vaccine supplies accessible and affordable in Asia, Africa, and Latin America. To promote the vaccination drive in India the US announced an additional $25 million to the $200 million announced earlier, during Anthony Blinken's visit to New Delhi. Post pandemic economic recovery was also a subject of discussions. Blinken thanked Jaishankar for collaborative discussion on many points, including security in the Indo-Pacific region. He went on to say that "the US welcomes India's emergence as a leading global power." Blinken also said that the future in the 21st century will be written in the Indo-Pacific region.  Blinken thanked Jaishankar for the collaborative discussions on many topics, including trade and economy, and how to promote greater bilateral investments to deepen commercial ties. ...

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The choice of new Federal Trade commission chairperson shows that president Biden is making a complete break from the Obama era White House and the favor Tech in Silicon Valley had under Obama, says this report in the WSJ. Antitrust probes by Justice Department and FTC are expected to limit power of tech companies. Ms. Lina Khan is new head of the FTC. Biden says "its just wrong" that Amazon pays little in federal taxes. This report says Mr. Obama feted Silicon Valley at a White House festival called "South by South Lawn."  And that 80% of the 334 people registered to lobby for Apple, Amazon, Google last year previously worked on Capitol Hill or the White House. 

Mr. Biden's Families plan and Jill Biden's commitment to education are more in line with the heritage of FDR and Harry Truman, even Eisenhower, presidents who fought on behalf of the working men and women of America.

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As a BBC reporter O'Connell interviewed Adam Neumann during the its highflying days when its share value today at $1.22 was $400. The company was about to do in office space rental what Amazon had done to retail and Neumann talked the talk, yet only a few years later the company is filing for bankruptcy.  Money went into valuation at $47 billion it is now $64 million. Billions of dollars wasted. Another example of how capital allocation in the American economy is failing and billions of dollars that are wasted could have been used to rebuild America's crumbling infrastructure and public needs in health and education, fighting climate change.

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Over 60% of GM revenues in North America come from larger vehicles and SUV's. This is the situation as oil prices are rising and change is sweeping across the Middle East. Another problem is overcapacity in the auto industry. The overinvestment is highlighted by the recent decision of Geely to invest $10 billion in Volvo to double production to 800,000 units over 5 years. The car industry can produce 94 million cars the Economist magazine estimates, and demand worldwide is only 64 million. One estimate shows production capacity could reach 40 million in China by 2015!

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Critics of the Obama administration's so-called "light footprint strategy" for the Middle East say it is more about keeping distance from problems in that region. This is a reaction to the extensive involvement of the U.S. in two wars in that region and intuitively makes sense, as well as being in line with American public opinion to focus on problems at home. The shift or pivot to Asia of president Obama also comes in that context. The problem with this approach is that this ignores the fact that most of the momentum and effort for the freedom struggles throughout the Middle East from Tunisia first, then Libya, Egypt, and now Syria, comes from within. The lead role is now being taken by France and Britain, with German public opinion also lined up in support. The U.S. in forfeiting its role as a facilitator with strategies such as "no-fly-zones" is losing the opportunity to gain the goodwill in the Middle East with cost that is negligible in comparison to the cost of Iraq and Afghanistan, and comes after the huge U.S. effort to remove one dictator in Iraq. A minor followup effort is all that is required from an administration that pushed for the "surge" in Afghanistan. When history is written the investment of the Obama administration in Afghanistan may show little results, if what is considered by the media and experts as an unpopular and undemocratic government of Karzai falls in the aftermath of the U.S. withdrawal. There is little doubt in public opinion in the U.S. and worldwide that the movement for freedom and democracy in the Middle East and democratically elected governments will become a lasting facet of the new Middle East. It also provides huge opportunties for trade and investment as is shown by the gains made by Turkey in just 2 years. This is why the Obama adminstration policies in the Middle East show a lack of grasp of the facts showing the Middle East as opportunity more than threat for the next decade, especially in its overreaction to the Bush era policies. This happens as there is a demographic explosion of young people in the Middle East. An administration that was keen to sense the demographic changes in North America, has failed to grasp this fact and why the struggle in the Middle East flashes daily on television screens young people carrying on the struggle. A pivot to Asia means a pivot to the Far East more than Asia because India is part of the South Asian-Middle Eastern region, which presents another paradox because as China is slowing the entire South Asian-Middle Eastern region of Asia is where future growth is expected to accelerate in the next decade. ...

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Adidas plans to open 2500 stores in China by 2015, including 500 in 2010, up from 112 today. Upscale outlets planned for the larger cities in China. The distribution will widen to 1400 cities by 2015, from 500 currently, by moving to smaller towns and cities in China's interior. Adidas also plans to ramp up its presence in basketball, a sport that Nike emphasizes. In China it will offer the NEO brand in smaller cities, targeting teens with prices about 50% of other Adidas brands. The strategy is to introduce Adidas products to people with lower incomes at lower price points, a strategy being used by Nestle, P&G and Unilever in consumer products for emerging markets. Adidas has opened an online retail store with Taobao.com and plans to bring in $500 in internet sales by 2015. Still North America with 14% growth will be Adidas's largest market, and sales in China are not likely to overtake sales in North America by 2015, according to CEO Hainer.

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Looking back at China in 1945 Bernstein's book on the period shows the difficult choices faced by Truman as he confronted the problem of dealing with Chiang and Mao in the period following the Japanese invasion and defeat. With the Iron Curtain beginning to come down in Europe, Truman had to take action against the spread of Communism. At the same time Truman did not want to get America involved directly in the conflict because of the nature of the civil war in China following the Japanese invasion and defeat. Christiansen says that if any side put China on the road to communism it was the Japanese imperialists with their invasion of China. Truman was simply choosing between a bad choice of negotiating a solution and ending up supporting Chiang, with a worse choice of getting directly involved in the conflict. That choice of direct involvement came a few years later with the Korean War, by which time America was committed to defending Western Europe from communism.