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Greater awareness in Europe and the US that a global minimum corporate tax rate is needed for fair burden sharing to renovate decaying infrastructure. US president Biden takes the lead and France says it will follow. 

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People in Japan are living longer healthier lives. So much so that people are working well into their 70's. In Nagano, Japan, people say that those in their 40's and 50's are like a child with a runny nose, and people in their 60's and 70's are in the prime of their careers. In this WSJ report, 38 years old Norohiro Aizawa is a part time farmer, who says he plans to work into his 70's like many farmers in Japan. Today his father in his early 70's is active and in charge. Sachiko Kobayashi runs a crafts business, has a job making box lunches, and a garden full of pumpkins and radishes. She is 65 and gets up at 3 am. In Nagano she is called by the term pre-elderly, not elderly. For elderly she has a long way to go. Japan has 29% of the population in under over 65 years group, Europe 21% and US 17%. Yet something else is happening. People are just taking better care of themselves and their health, and living, working longer. A 70 year old today in Nagano is in health status like a 60 year old one or two generations ago. Perceptions of what is elderly have changed.    Japan's White Paper on the Elderly in 2021 shows studies suggesting that many in the 65-74 year group do not share traits associated with the term elderly.  Only 6% require care by others. Half of 65-69 year olds hold jobs, and a third of those in their early 70's also hold jobs. Life expectancy in Japan stretches into the late 80's for women, and early 80's for men. This is almost 5-8 years more than countries like the UK with a strong national health service. In April 2021 a revised Employment Law took effect, telling big employers to offer work to workers until age 70, up from previously government sanctioned retirement age of 65 years. Government says it is meant to protect the right of people to work longer. There is even a term called late-elderly.  Oshima 82 of Nagano, leads a volunteer group that shoots video of community festivals and works late into the night, and is cited in this WSJ story as saying that even if people called him late elderly, his response is oh yeah? I don't care. It is all about living a full life, terms don't matter at all when one stays healthy.   ...

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A professor from Harvard's Kennedy school describes the Hungarians failure to remember the 1956 Hungarian uprising crushed by the Soviet Union as migrants suffering enormous hardship make their way to Keleti train station in Budapest, Hungary. The Orban government in Hungary refused to let migrants take trains to Austria and Germany. Chancellor Merkel said the Schengen Agreement allowing free movement itself was being called into question. The Orban government later relented and put migrants on buses to Vienna. Throughout this crisis as media showed pictures of the hardships suffered by migrants, and chancellor Merkel assured asylum for hundreds of thousands of migrants, Obama and Harper were silent on the issue. The appalling numbers tell the story, says Ignatieff- with about 1500 for the U.S. and 166 for the UK, according to news reports. He is very critical of Obama, Cameron and Harper, representing the U.S., UK, and Canada, for doing so little.

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Oxford Biomedica is the company that is part of the consortium making the coronavirus vaccine being developed by Oxford University's Jenner Institute.  Her Mr. Dawson describes the challenges he faced and cash crunches 4 times in 12 years, the last 4 years ago. The turning point he says was in 2012 when the cell and gene therapy was validated with a new drug developed for a form of cancer using this method. Oxford Biomedica is setting up a facility for manufacturing the vaccine in England at a 84,000 square foot former Royal Mail sorting facility in the city's business park called Oxpark. Dawson says cell and gene therapy is going to be big in health care. He did not see it coming till 2012. In 2014 he says during a cash crunch they had realized that what they had to do at Biomedica was to get to the time when it was going to be big. Today Astra Zeneca of the UK is organizing the effort and includes the use of British and Indian facilities for manufacturing, and Oxford University for research effort. ...

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The Economist magazine says Boris Johnson with his booming cheerleader habits is an attractive choice for 124,000 members of the Conservative Party as they contemplate a new leader. Now that the new Brexit Party and Mr. Farage are taking votes from Conservatives and the party polling just 11% ahead of the EU elections, with Brexit Party at 34%, the Conservatives could see his faction of no-deal Brexit as a good choice to lead the Conservatives in the battle with Labour party. Not so hastily it says. Because of three reasons. The EU is not likely to negotiate concessions to Boris Johnson, much the reverse is true. A no deal Brexit would hurt the British economy, and lacks support in parliament. The Scottish people are not represented in the leadership ranks of both parties, so there is a danger of breaking up the UK, as Scots oppose Brexit. Mr. Johnson is also seen as a risky gamble because of the mess Conservatives find themselves in, handing Labour Party under Corbyn a win. Johnson could restore Conservative Party as a campaigning machine and a governing force, even with his bumbling style, yet it could all go wrong. ...

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Aldi plans to open 200 stores in the US in 2025- it's low cost model is working as Americans change their buying habits to get the best value from grocery stores. The German discount grocery store chain carries low cost produce and other items straight from the truck to the shelves for super discounted prices without the individual shelf byshelf stocking of larger grocery chains such as Kroger's. Aldi's like the Trader Joe chain stores are smaller and customers say it is hard to build up a large grocery bill when one reaches the cashier counter.

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In Biden's address at the UN General Assembly he talks about climate change and Covid-19, and a foreign policy that brings together US and its allies in Europe and Asia. He said "the next decade will quite literally determine our futures."  He encouraged "competition" but he stressed he was "not seeking a new Cold War or a world divided into rigid blocks." Biden also said the US would spend $10 billion to end hunger and invest in food systems around the world.

Biden also increased US commitment for developing countries to reduce emissions to total $11 billion by 2024- in a recent interview Indian finance minister Sitharaman says India has done its work for COP21 emissions entirely without US or other funds.

In a few days Biden will hold a Covid summit where he will call for vaccinating 70% of the world's population. 

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US to take stakes in American companies to help them achieve goals of Make in America with Intel stake the first action. The $8.9 billion Biden intended for Intel to make chips in the US will be handed over to Intel but for a stake in the company of 10%. For years Taiwan, South Korea, Japan and China have subsidized their companies in different and some hidden ways. Many times these companies have sustained losses as they built for the long term in volatile market situations. Nvidia now a trillion dollar company was at one time a company struggling to survive saved only by a Japanese corporate investor as shown in a recent WSJ report. The US has taken no such action losing its dominant position in many advanced industries including chips till the Biden and DJT administrations. Yet the media keeps voicing the old ideas of market capitalism as if there is such a thing when state capitalism operates with market capitalism in the Chinese model, and a form of semi state capitalism operates with market capitalism in Taiwan, South Korea and Japan with hidden subsidies by the state to build dominant positions in certain industrial sectors. Even US companies are willing to take such subsidies as when Elon Musk builds car plants in China with state assistance and support, which never comes up in the media even when the Chinese EV makers are learning from the Americans and Tesla is losing market share in China. Theory is for the textbooks and economists,  in business all forms of capitalism work including a mix of state and market, and America has to invent its way back to lead the way in advanced industries.  ...

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For 2025 US stocks S&P 500 returns 19%, foreign stocks in Europe 36%. An extraordinary year for foreign stocks with Germany's big investments in the economy. Actually the average S&P stock was down 3.7%. It was the large investments in AI that propelled the US stock markets S&P 500 to the 19% gain.  AI investment may take a long time to be profitable and some companies may lose money yet the building of data centers creates demand for construction activity, and tariffs are bringing larger investments into the US economy. Media skeptical about tariffs led to many missing the surge in stocks. It was the same overseas after years of Merkel and limits placed in the constitution on needed spending, and the SPD coaltition struggling to get through FDP obstruction to investment spending. Chancellor Merz of CDU joined the SPD to make a big $1 trillion investment in German infrastructure and defense, and removed the constitutional brake on investment Merkel had unwisely put in, with so much of Germany's infrastructure and digital in bad shape. This pushed up European stocks that had languished under the austerity logic of Cameron/Johnson-Merkel. This also was missed by many as the old logic was suddenly and quickly taken out with Russia emboldened in Ukraine taking over much of the eastern Ukraine's Donetsk region. Defense is now a rapidly growing part of the German economy. 2025 was a year of sudden and rapid change in the world economy with tariffs, US investment deals, and Germany taking on defense and infrastructure, which few could predict. And in which the media created confusion by saying the opposite of what was required from investors. ...

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Frances tax system places 40% tax on single earner family with 2 children compared to 20% in the US. France debates how to pass the budget and how to meet budget shortfalls in revenue, where to tax. France's top tax bracket is already at 55%, the second highest in Europe, which does not make the job of setting taxes easier. Additional 1.9 billion euros was to be raised by raising the tax rate for families that had tax liability of 20% if they made over 250,000 euros. This has raised 400 million euros only in 2025. This editorial in the Washington Post is critical of the French tax structure and says it is not just the rich who end up with higher taxes. It says that the average French single worker gets to keep only 53% of income after taxes, whereas American average single worker who gets to keep 70%. The extra 20% could be what the American worker pays for health care if as in some cases health care has become so costly in the US as to cost more than a mortgage, as reported in the WSJ in January 2026. Can government buy healthcare more efficiently and distribute it than families on their own. In the case of pharmacy products would removing the power to negotiate  prices with pharmaceutical companies conducted in government run by special interest groups as happened under US president Bush make it so expensive to buy pharmaceutical products that the advantage of smaller taxes is destroyed by a perverse healthcare system run by special interest groups with help of lobbyists. This is just to show that yes the US tax system with lower taxes can fail when other things go wrong in managing crtical costs such as healthcare and housing.   ...

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Automobiles, aerospace, pharmaceuticals and energy helped France reduce its deficit. French exports increase in 2025 and deficit decreases- euros 614 billion in exports to 703 billion in imports in 2025. Deficit with Germany down to euros 5 billion. Yet there is aproblem with deficit with China- going from euros 100 billion in 2019 to 315 billion euros in 2025. This is a major problem for France as it has been for the US.

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Indian access to Canadian oil and gas uranium supplies in deals Feb 2026.  India Canada trade agreement negotiations planned. This happens as Canadian PM Mark Carney visits New Delhi, Feb 28, 2026. The problems created by Mark Trudeau's failure to work with the Indian government on trade and business relations, is now a thing of the past as both Canada and India look for new buyers and markets for trade following US tariffs.

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Talarico beat Crockett in Texas Democrat primary and Senator Cornyn at 42% edges out Attorney General Paxton in Texas Republican primary.  DJT likely to endorse Cornyn and calls for Republicans to avoid ads and infighting. $131 million spent on this Texas primary, $99 million for Republicans. Democrats are unlikely to win in Texas, but the infighting is of concern to the president because of the margin  for control in the US Senate.

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US programs in thousands of dollars 2026- physical therapist $37 nurse anesthetist $38 and $46 physician assistant $100. Federal lending limit for graduate programs is $20,000. The federal lending should not support the spiralling cost of these programs in graduate professional education. As a result most will have to get private funding. There  are serious questions about the inflation in the cost of these programs. In 2016 physician assistant programs cost $46,000.

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The Washington Post showing which programs and which fields in the US lead to higher income growth over 15 year period. The studies have looked at 1 million graduates in American colleges over many years to see which programs have the highest payoff for young students. The conclusion is that education programs pay off at every level. It is based on data from 2008 for 89 public colleges in Texas, and is the most detailed so far.

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China faces risk of a surge inthe coronavirus in June 2021. The area in and around Guangzhou appears to be seriously affected. The city tested almost its entire population of 18.7 million between June 6 Sunday and June 8 Tuesday. This report shows pictures of a deserted Beijing airport, strict restrictions on foreign travel. The SinoPharm vaccine effectiveness against the Delta variant in India and UK is unknown. The government is locking down entire neighborhoods rather than entire cities or provinces.  As the risks of the Delta variant and other new variants increases most of the population even in the US and Europe have either no dose or one dose. Researchers at the University of New South Wales in Australia show the Astra Zeneca vaccine effectiveness with one dose at only 30%, only after two weeks following the second dose does the vaccine effectiveness reach about 70%. The population of China and India are so large that much larger parts of the population remain unvaccinated. In China with 1.3 billion people and even if the figure of 800 million doses stated by the government is accepted- it could be an overestimate as the US has only managed 300 million doses with many vaccines- most of the population is unprotected. Vaccine skepticism is high in China making vaccination an uphill task. SinoPharmvaccine is not as effective as Pfizer, Moderna, Astra Zeneca, or Covaxin vaccines, making the task even more of an uphill kind. ...

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Milei wins 41% of the vote in Argentina midterm Congressional elections in October 2025, with one third of Congress to support his economic programs to fight runaway inflation. About one third of the people live in poverty, as Milei resorted to tough action to fight over 100% inflation. It is  now down to 30%. Argentines are determined to find a way out of this inflationary crisis that happens once every decade for the last 70 years. The US plans to provide $20 billion in loan assistance, and another $20 billion from private funds. The IMF has a $55 billion program to support the economic programs that cut the number of people in the state sector companies and government, cut economic subsidies and social assistance, in a desperate effort to rein in inflation. Only when all members of society pull together, particularly young people, can a nation get its economic act right. Argentina must find a way. A rainy day fund has to be set up as happened in Brazil and Russia, financial prudence exercised by leaders, and the young people stepping up to change the country's future, change the trajectory forever. ...

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The platform sector of workforce is now an accepted part of the Chinese economy. Le Monde looks at actual cases of workers and their families and why they end up choosing platform work with Didi as drivers, or as home delivery workers for other companies. 84 million platform workers 1 in 5 workers in China in 2025, and 420000 civil cases filed in Courts in China over period 2020-2024 for excessive hours, safety, injury and lack of social insurance. Workers send money home to rural areas and work upto 90 hours a week to make about $1 per delivery in China and strive to make about $1220 a month with excessive hours and little in benefits. This sector acts as a backup to absorb labour when companies close such as the bankruptcy of big property construction companies such as Evergrande. In 2024 the government set rules to regulate abuses in this sector. As China shifts from dependence on construction, and as exports to the US face resistance and tariffs, laid off sorkers end up in this sector with few benefits. The government regulates it to reduce social tensions. ...

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Indian prime minister Modi will meet president Biden at the White House for the Quad Summit bringing together the leaders of Australia, US, India and Japan. The Quad will initiate projects for vaccine with a billion vaccines planned to be manufactured in India for distribution in Asia, and for infrastructure projects in Asia.

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It can be a bit overwhelming, time for a pause, to close the Borders in Europe and in US, to do it together as a Nation. Republican Senator Lankford and senior members of Congress   negotiated the legislation to restrict immigration and close the southern border. It would be signed into law in January 2024 by Biden says Lankford in NYT after 30 years of inaction. The negotiated bill came up 2 months later in March by which time it was stopped by Trump Republicans as an issue for the election. Harris promise is to sign it into law, close the Border. Meanwhile in Springfield Ohio, population of 80,000 in 1960 declined to 59,000 in 2020 dropping 25% over the 60 year period with the decline of the Rust belt towns in the midwestern region of the US. A program that protects people from gang related violence in home country legally allowed 15,000 Haitian immigrants to settle in the city, people who now drive Amazon delivery vehicles and work in nursing occupations and in restaurants, in towns that have severe staff shortages. WIth the influx of refugees from Venezuela at the southern border, this has created anti-immigration sentiment in some parts of America, even as some of the refugees work to fill shortages in traditionally Republican states such as Kansas, as shown in the WSJ, that have decline in population and face severe staff shortages for bus drivers, restaurant workers, and hospital workers. Streams of refugees in earlier eras the Irish, followed by the Germans, followed by Blacks from the South, all followed this path, yet it was also a bit overwhelming, and at these times the nation took a pause. Europe is taking a pause- across Denmark, Sweden, France, the UK- and in the US there is sentiment on all sides for a long pause, to regroup, to reflect and focus on the national goals of binging up the middle class, the lower income classes, and the nation as a whole after the distortions from tech and economic theory induced distortions hurt the working people and families, and hurt rural areas. ...

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The European Union’s total defense spending increased by 30% from 2021 to 2024, to 326 billion euro or $341 billion. That is 1.9% of the EU’s GDP it's economic output, according to European Defense Agency. It is still short of 2%.  Britain will ramp up defense spending all the way up to 3% in 2027. Britain is short of defense equipment with transfers to Ukraine and with much of the defense budget going to maintain a nuclear deterrent. This leaves less for other defense needs. This report says most of the procurement for defense equipment goes to countries outside Europe.The Kiel Institute says 80% comes from outside EU. It is not mere shortage of funds it is the severe bottleneck from lack of defense manufacturing industry  that is putting Germany, France and UK in a situation where they are too dependent on the US. It takes years to build this capacity. Russia built it up during 3 years of war by going to a wartime economy and it now produces 4 times the ammunition Europe produces. The US did the same to match and exceed Russian capabilities and capacity, Europe lagged behind with unwillingness of Macron and of Scholz in particular to switch funds from needs in transport, infrastructure to defense. The debt brake Merkel to stop debt based infrastructure investment is what ails Germany. It has had two pernicious effects it created the AfD's surge by lowering economic growth and investment in public needs - housing, transport, public services. It worsened the SPD and CDU performance by not investing in security with no policies to return crime committing refugees to their home countries. A combination of aid and other assistance, diplomacy, secured the cooperation of countries to take them back. A strong display of action on removing refugees committing any offenses would have lessened the number of terrorism incidents. ...