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NYTimes.com Original article ›
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Amazon expands during the pandemic when retail on line delivery has helped people reduce trips to the grocery or retail stores. Amazon hired 427,000 people to expand its workforce to 1.2 million people by November 2020, 9 months into the pandemic. Almost doubling the employee workforce. These workers are mostly at warehouses, with some software engineers and hardware specialists. This includes hiring in India and Italy and is worldwide hiring. This does not include 100,000 temporary workers for the holidays, and 500,000 delivery drivers working for contractors.  Only hiring of 230,000 people by Walmart about 2 decades a ago in one year comes close. Walmart hired 180,000 people during the pandemic. Walmart has 2.2 million employees. With the expansion underway Amazon looks to become the largest private employer in the world in 2 years, say experts.  Amazon pay is $15 an hour after an increase of $2 recently. Its coronavirus safety practices have been upgraded after early criticism in April and May. Recent expansion in Italy and in India are also part of worldwide expansion after Walmart has pulled back from its worldwide expansion. This also shows how quickly major aspects of life are changing during the pandemic as some companies in online business are becoming more prominent than others. Target and Walmart have also increased in size. Best Buy has changed its focus with its conversion into a company that leads with personal service in online plus store hybrid retail and a focus on seniors and older people for healthcare service and product delivery. Companies are changing the way they run or getting a new life in remaking their business. This is also a time when other aspects of business such as social media are becoming evident. Subtle aspects such as reports of higher rates of mental depression through use of social media platforms. There is also the awareness that information technology companies in Silicon Valley generate most of their money in advertising and this advertising of $100 billion is only a small fraction of the $12 trillion U.S. economy. Should Silicon Valley based in California decide priorities on where capital allocation should go through the part it plays in moving startups based less on America's priorities than other considerations. Healthcare, education, cities, and infrastructure have not received funding they need and capital allocation by financial markets has failed the American people, as it has failed in Europe and other parts of the world for similar reasons. This has hit hard communities and people across the U.S. and Europe and also in Latin America, Africa and Asia, with the loss of manufacturing to China and other countries from the U.S. India and Europe. ...
New York Times Original article ›
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Steven Lee Myers provides an exceptionally good report from Russia on the 2014 Sochi Olympics. He describes an effort by the Putin administration in Russia to develop Sochi which extends for 90 miles along the Black Sea, the only subtropical seashore in Russia. Here Myers interviews Pakhomov, a Putin supporter, who is Mayor of Sochi, to get a picture of how Putin supporters see this effort. Pakhomov says this part of Russia was never developed and foreigners have a poor view of Russia, with one westerner telling him that Russia had little except vodka and bears. For the first time the entire Sochi areas has seen a massive infrastructure effort with roads, railways and a new airport. Myers gets a different picture from Yulia Naberezhnaya, a scientist who is a Putin critic and environmental leader in the Western Caucusus, who he interviews after meeting at a bus stop in Sochi. Naberezhnaya heads Environmental Watch of the North Caucusus which sees the environmental laws being ignored in construction work. The country is divided with nationalistic feeling running high before the Olympics, and a friend of Naberezhnaya finding herself on the opposite side with work in the security services. She warns her to be careful- something Naberezhnaya says has Kafkesque overtones. Myers also meets Boris Nemtsov, a senior official in the Yeltsin government, who participated in street protests during the recent elections in Russia, and is critical of the money spent in this Olympics. Estimates of the money spent run as high as $51 billion, in comparison the Olympics in Beijing, China cost about $40 billion. Dmitri Chernyshenko, president of the Sochi Olympics Organizing Committee sees the project as one that unites the nation, while critics such as Nemtsov see it as a huge overspending and corruption favoring Putin's friends in the business community. Myers is acting Moscow Bureau Chief for the NYT and has done extensive interviewing for this report, including an interview with Vladimir Yakunin, head of Soviet Railways. Yakunin says his company's investment of $1.3 billion will take 20 years to recover but puts it on the scale of the Trans-Siberian Railway build by Czar Nicholas II, which helped bring Russia its current borders reaching to the Far East. And yet the question of cost is never far from people's minds, coming at a time when growth is slowing in Russia- emerging markets currency values incluing the ruble are declining and they are having a tough time attracting foreign investment. A member of the International Olympic Committee, Gian-Franco Kasper, is reported to have told Swiss SRF radio that about a third of the spending on Sochi was lost because of corruption and excessive costs....
The New York Times Original article ›
LyrArc Article Gist
Rappaport of the NYT asks how it is possible that the U.S. Treasury is critical of the EU Commission's ruling that Apple pay back $13 billion in taxes because of its low tax rate of .005% in Europe, when Treasury is strongly critical of tax avoidance. The negligible tax by Ireland, base of Apple operations, is seen as a state subsidy not available to competitors. It also, as the EU Commission says, does not correspond to economic reality because the revenues are mostly made outside Ireland. An arrangement that is basically a strategy of tax avoidance. Today the leading candidates for president, Trump and Clinton, the major parties, and Congress, all are critical of tax avoidance strategies which deprive Treasury of much needed revenues. Restoring upward mobility is a priority today and programs to provide tution free access to public colleges, healthcare access, and infrastructure development, require public funding. Then why is the U.S.Treasury critical of the EU ruling? It is because Treasury sees this as money that should be coming to Treasury not the EU. However Treasury has failed to make this clear. The Financial Accountability and Corporate Transparency Coalition's Clark Gascoigne, calls it very ironic. And other experts say the money would not be coming to the U.S. anyway unless a low tax rate induces Apple to repatriate profits to the U.S. One expert calls it hypocritical. Senator Schumer says he agrees with Paul Ryan that tax legislation for a low tax rate for repatriation of profits back to the U.S. should be the next step, so that an infrastructure fund can be setup. Senator Levin and transparency advocates sees the EU action as normal and to be expected, as the anti-establishment sentiment today comes from such dealings that create the impression that the system is rigged in favor of some corporations. ...
WSJ Original article ›
Wall Street Journal Original article ›
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China's traders took advantage of low December prices for oil to build inventories, It made Iran the largest supplier of oil to China, followed by the Saudis and Angola.
New York Times Original article ›
LyrArc Article Gist
India's emissions rates up by 57% and China's by 34% in the past decade. U.S. contributes 25% of the world's greenhous gas emissions.
Wall Street Journal Original article ›
Economist Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
China's limited monetary and fiscal options in 2012, with the housing bubble limiting the option of increasing construction spending to spur growth, and inflation limiting monetary policy. The central bank's decision to reduce the reserve requirement by 0.5% is not expected to do much for economic growth, as there is enough money to lend. The problem is that there is not enough demand for loans in the current environment.
Wall Street Journal Original article ›
LyrArc Article Gist
The PBOC, China's central bank, injects $65 billion into China's banking system in Dec. 2014 to get banks to increase lending as the economy slows further. Experts say the growth rate is likely to drop below 7%. At the same time the central bank and economic policy makers are concerned about excesssive debt in the economy, shadow banking and local government debt risks. It cut benchmark interest rates by 0.25% in 2014. Other risks are developing as the property market cools off and investors shift investment to equity markets creating a surge of 50% in the Shanghai and Shenzen stock exchanges for 2014. As a result economic policy is not as effective in today's environment.
Wall Street Journal Original article ›
LyrArc Article Gist
WTO Trade talks and the negotiations between EU, US, Brazil, India, China, Japan, and Canada continue with difficulties in getting India's agreement. Mr Nath of India has come to speak for all the world's poorest countries in Africa and Asia and also the growing emerging economies like S. Korea and India. THe EU and the USA are keen on access to India's growing market. And India and Brazil want to see concessions from the EU and the USA that will help the poorer countries especially promises made at the Doha round that were to ease global poverty that have not been fulfilled. With the difficult economic situation in the EU and the USA there is less give on their side and the Indians and the Brazilians are insistent.
Wall Street Journal Original article ›
WSJ Original article ›
LyrArc Article Gist
Emmanuel Macron graduated from Sciences Po University in 2004 with a degree in public affairs. He joins the Finance Ministry as an inspector and then buys himself out of government service contract by 2008 to join a private bank. He arranges an acquisition from Nestle and other business deals during this period. In 2012 he is appointed as deputy secretary general for the president's office after Francois Hollande a socialist is elected to the presidency. In 2014 he is offered the position of Minister of Industry and Digital Affairs in the second Manuel Valls government. He makes some changes to French government but opposes the wealth tax or tax on business, and is generally pro-business, though he acts as a member of the Socialist party.  He uses this period to build momentum for his own run for the presidency as support for Hollande falters having lost support from his working class base with Macron and Valls inspired changes.  Macron finally announces he will run for the presidency forming his own En Marche movement which he finances with his own fund raising. Throughout this period right up to the election in 2017 Macron has not run for public office. When he wins the presidency in that year he lacks the experience needed as the youngest president in French history at the age of 39. Like another young president Obama he handles his public image with the media for his En Marche movement promising to unblock France. This public image and his lack of experience makes him impervious to the social changes going on in France that lead to the yellow vest protests in 2018. This is a period when there are changes in the midwest as workers in Michigan and other midwestern states turn away from Hillary Clinton and Obama.  French workers are in the position of workers in the US with the decline of manufacturing, much of it shifted with the supply chain to China and Japan, and the gap opening between rural and urban tech educated areas. Macron follows Obama's quick rise from Senator to run for president yet lacks experience, and lacks sufficient grasp of the social changes with loss of manufacturing, the wide gaps between rural and urban tech educated people, conditions in the rural and farming areas. Macron survives this period, is reelected in 2022 with the help of socialist Melenchon voters. He says he will govern differently, less distant from average Frenchmen, but his instincts are to push for pension reform. At a time of cost of living crisis, and when the French budget office says the change in pension from 62 to 64 was not critical at the present time when inflation was hitting the public after the pandemic. Macron does this by Article 49 in the way he has done under the Manuel Valls government, by executive action alone. This time he faces a no confidence motion in parliament in March 2023 following some of the largest protests France has seen in years, with two thirds of the French according to FR24 opposing the change in pension law. Women see this as coming at a time when age discrimination hurts their chances of earning a living after 50 years of age.  Age discrimination is widespread in France, in a way it is not in Germany, say reports in the NYT. And with the cost of living crisis acts as a major hurdle for the average French person, if pensions are delayed without addressing these cultural issues in France. The result is that the protests have substance and Macron is seen as not sensitive to this at a time when he lacks a majority in parliament. ...
Wall Street Journal Original article ›
LyrArc Article Gist
Productivity as measured by GDP per hour worked was $44 in Italy in 2009. It has remained the same as in 1999. In the EU-15 (first 15 members of the EU) the GDP per hour worked increased from 47.9 in 1999 to 49.0 in 2009. For the U.S. this GDP in the same period went up from $56.0 to $58.0. This shows the lack of productivity growth in Italy. With the current focus on Italy's slow economic growth efforts are underway to make changes that would increase growth. GDP growth in Italy was 1.3% in 2010, compared to 1.8% for the eurozone, according to Eurostat. Italy's Minister for Public Administration Renato Brunetta says he would like to cut that gap in half. Some of the measures in the recently passed $40 billion spending cuts package, include efforts to help the underdeveloped southern region. This includes cutting red tape for real estate developers, and streamlining accounting for business. Italy's growth comes mainly from exports that make up about one fourth of GDP. But this comes from lower tech sectors such as textiles, chemicals and machinery, where it must compete with China and other countries. In May 2011 industrial output was up by 1.8% in Italy,compared to 7.5% for Germany. Another problem is the large and inefficient public sector and the gap between protected state workers and a younger generation- with one in three Italians 15-24 unemployed....
WSJ Original article ›
The New York Times Original article ›
New York Times Original article ›
LyrArc Article Gist
That the Tibet issue and suppression of Tibetans takes centre stage in the Taiwan election with both Ma and Hsieh candidates of the Nationalist party and the Progressive Democratic party both denouncing Tibetan suppression shows how far the Tibetan issue can change things around the world. What was once taken for granted that both candidates favored better relations with China is now in question. Hsieh especially has taken part in candlelight vigils for Tibet and a huge pro Tibet rally is being organized by his running mate. And Ma is backing off from his China position in the face of shifting opinion in Taiwan to the suppression in Tibet.
Wall Street Journal Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
The Afghan School in Kabul run by former Taliban officials for girls and boys is one of the best schools in Kabul. Boys and girls attend chemistry classes together. Taliban officials see the schools as a bridge between madrassas and modern schools, and now accept the idea that as long as Islamic ideals are respected girls should go to school like boys. A former Taliban foreign minister- of the government the U.S. ousted under president Bush- now helps his daughter with homework. The changes in neighboring Pakistan where the government of Nawaz Sharif is pushing modern ideas and technological development are likely to push progress in Afghanistan as well- this happens as the U.S. withdraws from Afghanistan. The U.S. leaves a region hungry for progress as new governments pushing technological development supported by business emerge in Pakistan and India in 2013-2014. Unfulfilled promises of economic development are at the forefront of people's minds. A transformation as large as the shift from communism in China to state run market economy and the technological and economic transformation that followed is now at its early beginnings in the region. This shift would be from religious strife and socialist structures to a market economy....
New York Times Original article ›
LyrArc Article Gist
The fruits of the failed "no show" Obama administration policies in the Middle East, that allowed reckless intervention by the Putin government of Russia in Syria, and failed ignominously to offer timely full moral and tactical support to the participatory democracy movement in the Middle East. The cost relatively small compared to the cost already incurred by the Bush aministration, and most of the heavy lifting to be done by the young people looking for a better life in the region. And a cost that would make much larger additional cost less needed under future administrations to correct policies of neglect by the Obama administration. A failure in terms of ideals today, and a failure seen in terms of the cost that is borne by the U.S. from a policy of neglect. It comes from failing to grasp the fact that the U.S. is a leader for much of the world, and protects in its hands- in its ideals and its best efforts to live up to these ideals- the aspirations of the vast majority of the people of the world, including hundreds of millions of people in China, India, Brazil, Mexico and the large developing regions of the world....
Wall Street Journal Original article ›
LyrArc Article Gist
A call to U.S. and European leaders to uphold civilized values after the repeated use of chemical weapons and poison gases in Syria by Bashir Assad. Roberts quotes the poet Wilfrid Owen who fought on the Western Front in World War I and witnessed the horror of gas attacks at the time. The poem is "Dulce et Decorum Est." It describes a chlorine gas attack at that time. The Geneva Protocol for the Prohibition of the Use in War of Aphyxiating, Poisonous and other Gases, banned their use in 1925. The hesitant response of president Obama to the use of chemical weapons in Syria by Assad compares very unfavorably with the Sarkozy-Cameron action in Libya and president Clinton's response in Kosovo after attacks on civilian populations. It also fails to uphold civilization values. This is true also of the government of Hollande in France, Merkel in Germany, which have failed to respond. The focus on domestic issues and the eurozone crisis does not make any less the responsibility of western leaders on this issue. Russia under Putin and China under Jinping have not grasped the importance of standing up for civilization and values to be credible in world affairs....

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