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Krugman points to the connection between the failure to achieve debt reduction through debt forgiveness and the sluggish economic growth in the eurozone and U.S., five years after the global banking and financial crisis of 2009 and four years after the beginning of the eurozone debt crisis in 2010. In the U.S. debt reduction for homeowners was delayed with a wave of foreclosures, and in Europe austerity budgets were the norm as Germany pushed hard for austerity policies. In 2014 small relaxation of austerity to give relief to voters took place in Greece, France, Italy and Spain, with austerity budgets still in place. Growth also slowed in Germany to slight contraction in the third quarter and no growth in the fourth quarter of 2014. This is leading to the formulation of new policy to address growth challenges in the eurozone. Debt to GDP is growing in eurozone countries and Britain because of lack of growth, even though spending cuts have been made, showing the need for rethinking policy. ...

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Efforts to develop the next generation Ukrainian aircraft industry from its current moribund state by discarding the old Soviet model. Attracting new foreign investment alongside state investment, modern management, preserving intellectual property rights, and looking for contracts across Europe, is critical for future development. Ukraine has a history of technology development and design in the aircraft industry, which makes this industry a good candidate for export revenues. The first mass produced helicopter was made in the U.S. and used a Sikorsky design in 1936. Igor Sikorsky is from Kiev, Ukraine, and immigrated to the U.S. in 1919, as Soviets took control of Russia. His son was a vice president of United Technologies Sikorsky helicopter division. (Wikipedia). MacFarquhar describes this industry in its new form at its early beginnings- a decade from now the industry under good management could provide large export revenues. Many of the old Soviet auto plants also developed in this direction with investments and technology from companies such as Renault, GM and others, helping revive the industry. There are no spheres of influence in modern industry- Ukraine, Russia, Europe, and the U.S., all benefit from openness to new technology and investment, which improve the economy and living standards. ...

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How to best integrate iPad reading to children with reading paper books to children and libraries is an effort that is still being developed.

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Taiwan's president Ma Ying-jeou calls on Beijing to allow true democracy in Hong Kong. For the first time in the debate on Hong Kong and democracy Mr. Ma challenged the idea that democracy is not suited to China. He told the Taipei National Day audience "Now that the 1.3 billion people on the mainland have become moderately wealthy, they will ofcourse wish to enjoy greater democracy and rule of law. Such a desire has never been a monopoly of the West, but is the right of all humankind." Ma called on China to experiment using the pragmatic sense shown by Deng in adopting capitalism- "Thirty years ago, When Deng Xiaoping was pushing for reform and opening up in the mainland, he famously proposed letting some people get rich first. So why could'nt they do the same thing in Hong Kong, and let some people go democratic first."

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Chancellor Merkel calls on China to respect Hong Kong citizen's right to free speech during premier Li Keqiang's visit to Berlin in Oct. 2014.

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The pressure on the ruble as it reaches 40 to the dollar by Oct. 2014. The increase in inflation with higher import costs affects the Russian economy.