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Russia faces future losses from the loss of the German and European natural gas and energy markets. Germany is pushing forward to free itself from Russian gas supplies, and supplies of other energy from Russia. This will be a market hard to replace for Russia. New renewable energy scientific and manufacturing advances could replace the dependence on coal, natural gas, oil leaving Russia without the earnings it makes now on energy supplies.

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Two stories in the NYT and this one in the WSJ on Musk attending a high security briefing on China by the War Department. DJT says on Truth Social site that Musk would not be allowed in any China briefing. DJT says  of plans for defense against China - "I don't want to show it to anybody." Musk has manufacturing plants in China for his EV company Tesla.

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News on several fronts in June 2009. On housing, a month to month improvement but still stuggling compared to a year ago levels. The Commerce Department said that an increase in multifamily units led to housing starts jumping 17% in May from April to a 532,000 annual rate. Compared to ayear ago level housing starts was down 45% from May 2008. There were 10 times more homes for sale in April as sold that month, with the typical ratio at 6. With layoff, tight credit and rising mortgage rates laying aheavy hand on these markets, even as developers cut prices deeply to clear unsold homes. On Manufacturing. Industrial production fell 1.1% in May from April, according to the Federal Reserve. Capacity utilization fell to 68.3%. See the graph for the steep drop for auto and auto parts manufacturing. On inflation. The producer price index showed its largest decline in 60 years, according to a Labor Department report. The PPI was down 5% from one year ago, the biggest decline since 1949. It went up from April to May by 0.2%. Part of this was rising oil prices. The core PPI which excludes food and energy dropped 0.1% in May from April. Rising oil prices, a falling US dollar and stabilization in the economy are reducing defaltion risk. At the same time the sign that inflation is not taking root are clearly evident in the slack that is building up with the drop in the capacity utilization rate to 68%, and further declines expected as the auto industry shrinks in 2009, with the huge overcapacity worldwide in that industry. ...

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The U.S. Defense Department awards Boeing a $30 billion contract for aerial refueling tankers. The first phase of this deal requires building 18 aircraft by 2017. EADS, the European supplier that lost out on its bid, had planned to build the planes in Mobile, Alabama, EADS had support of some southern states. Boeing sent a design based on its 767 commercial aircraft. This gives new life to Boeing's 767 program which was launched in 1982 and is seeing declining orders- down to 50 orders. Boeing says this supports 50,000 manufacturing jobs at Boeing plants in Washington and Kansas, and at suppliers around the country. EADS said it would have brought jobs to the Gulf region and keep 48,000 Americans employed.

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As Pfizer prepares shipments of 25 million doses of vaccine in the U.S. this WSJ report looks at how Pfizer CEO Albert Bourla pushed his manufacturing managers to the limit to increase production. He wanted 100 million doses for 50 million people by the end of 2020, production would have to be ten fold what the initial targets were. Pfizer will achieve half that which is an achievement considering how much had to be done. This report looks at the development of the vaccine at Pfizer since the early days in March when the collaboration with BoNTech in Germany began.

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The NYT gives a graphic visual that shows what is in the biggest climate bill in history. The bill reduces health care cost, changes taxation of corporations paying little or no tax, and invests in renewable energy. It also reduces the deficit by $300 billion. Common sense approaches such as Medicare negotiating with pharmaceutical companies for medicines it buys for the public are also put into law - an egregious fault of the way politics was distorting fairness in America is corrected, saving taxpayers about $100 billion that is then invested in tackling climate change and assisting clean manufacturing of renewable energy.

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Fausset of the NYT looks at a rust belt city in the U.S. midwest that has suffered as U.S. manufacturing declined. Much of the decline happened in the 1980's in the steel industry in competition with Japanese imports. North of town there is a GM plant that makes the Chevy Cruze. The unemployment rate of 17% in 2010 has dropped to 7.6%. Fausset describes the life of a retired steel worker on state pension who works in law enforcement. He is Joe Marshall Jr. from the song by Bruce Springsteen about a steel worker who the singer read about in a book. Youngstown appears to be divided by people who support Trump and Clinton.

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Even though U.S. president Trump has singled out countries such as Mexico, South Korea and China for trade practices, the U.S. today faces stronger competition in trade from Germany. The trade surplus with Germany for 2016 was $297 billion for Germany compared to $245 billion for China, according to Ifo economic institute. China's trade surplus according to the World Bank was down from 10% of gross domestic product or GDP in 2007 to 3% in 2016, while Germany's has gone up to 8.5%. The Chinese currency is seen as not being undervalued by some experts, while the euro has lost a quarter of its value in the last 3 years, giving Geman exporters an edge. The U.S. also competes with Germany in nine of the 10 export categories such as machinery and electronic equipment, according to the Peterson Institute. Then why is the focus under U.S. president Trump not including Germany? One reason is that China's products have put a downward pressure on U.S. manufacturing wages, and the the speed with the Chinese manufacturing has grown in certain industries. Germany has very few of the manufacturing subsidies that China provides to its industries. And the depreciation in the euro is not favored by the German government as it opposes the policies of the European Central Bank. Germany also has a higher propensity to save about 10% of GDP compared to about 3% for the U.S., according to OECD. As a result Germany is accumulating foreign assets at a faster rate than any other nation, while the U.S. is borrowing capital from overseas. Ways to change this are minimum wage regulations introduced by the government, but larger measures such as increasing government investment in the economy are not supported as the country prepares for the future with an aging population.   ...

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DJT administration considers taking 10% stake in Intel Corp August 2025. DJT says the Current CEO of Intel should resign immediately. The leading officers of the company with plans to sell off the manufacturing operations of Intel have caused serious concern in the DJT administration. Under Made in America selling off Intel's manufacturing operation not only made no sense but seemed totally incomprehensible. Nvidia would not exist today if it did not persevere through difficult periods and with the US having invented the chip industry America, Intel needs to doggedly stay in the fight to make the chips of the future that buyers need.

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New U.S. sanctions on two large Chinese companies, China National Offshore Oil Company, Semiconductor Manufacturing International Corporation, two of the largest companies in oil and chip industries, for ties to the military. The Trump administration is closing its term with sanctions on 35 of China's largest companies.

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Chief of TechMet a company in mineral resource development says that it will take years to dislodge China's dominance in rare metals mining and development for metals critical to technologies in car batteries, wind turbines, cellphones. This includes nickel and cobalt for car batteries.Last week president Trump signed an executive order declaring a national emergency and authorizing use of the Defense Production Act to speed development of mines. The U.S. imports 80% of its rare earth elements from China, with further supply coming indirectly from the country. For 14 of 35 critical types of minerals the U.S. has no domestic production. Gallium for light emitting diodes in cell phones is one of these metals. Half of Barite a metal used in hydraulic fracturing for shale oil is imported from China. To get some idea of the neglect in U.S.policy in these area under three administrations, the U.S. in the 1980's was the largest producer of rare earth metals and the technology to process them. Today there is only one mine the Mountain Pass mine in California, and no processing plants. It takes about 10 years to develop a mine. Just as in health care products essential to tackle the virus the U.S has found its manufacturing and technology base left in woeful shape after manufacturing and mining were neglected in a failed policy. Under the guise of globalization corporations transferred essential manufacturing from the U.S. and Europe to China, without understanding the importance these products played in the life of countries, and governments neglected to help local manufacturers and mining companies. Governments play a critical role as China has done by providing loans and grants to develop the national industrial base. Tariffs and quotas are also used to promote local development of the manufacturing base and mining base. Another factor is that investors are more able to invest in these companies when the government take some of the risk with its help and active support. With the Trump executive order comes a new awareness in Canada, Australia, and European Union which are now taking active steps to nurture and develop the local resources. ...

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Kristof says social ills- the lack of stable marraiges, drug use, poor day care resources- compound the problems of lack of education beyond high school in America's white underclass. The lack of good manufacturing jobs and lower wages have hit people with only a high school education the hardest. Two decades of decline in good manufacturing jobs with globalization have hit this part of the population in the U.S. hard creating increasing inequality in America. He sounds a Moynihan type call to the plight of America's poorest white communities.

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Questions raised in this Hindustan Times report about whether India's participation in the Shanghai Cooperation Organization makes sense now after the pandemic and the new arrangement in global affairs. New supply chains and trade alliances formed after the pandemic are likely to be very different after the pandemic and formed with dominant consideration of each nation's economic interests including manufacturing in the home country.  India joined the SCO to forge ties with the central Asian countries. But this no longer makes sense as India's manufacturing ties with individual nations such as Britain, Japan, Taiwan and the U.S., European Union may make more sense and build on "Made in India" initiatives than older thinking and approaches. Britain after Brexit, Japan and Taiwan after a realignment of trade relations, are keen on expanding business and trade, investment ties with India. India has many opportunities to pursue for mutual economic benefit with these countries. Germany, France and other EU countries, the U.S. are also keen on expanding trade and investment with India to boost their economies after the pandemic. This is a crucial juncture for India to plan for the next 10 years for a changing world in which India becomes a dominant story in manufacturing. Australia's participation in the RCEP may also not be long term under the prevailing climate of trade relations with China. Australia India trade can be expanded with new efforts.  ...

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The EV strategy of Toyota's new CEO Koji Sato is to make large upfront investments in EV dedicated parts and manufacturing methods. Koji Sato says "We've seen the kinds of EV's we're aiming for. Now that the timing is right, we will accelerate that development with a new approach." Under the former CEO Akio Toyoda Toyota fell behind in electric vehicles, as competitors surged ahead.

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Do social value in the way you run the business. That is the intelligent way. On green washing it says just don't do it. With so much that businesspersons are faced with- lack of upward mobility and wages, mental health, climate change needs, supply chain and domestic manufacturing, the need for an honest sincere response on these issues. These points are made at a WSJ event as reported by Ashwell and Siew.

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Biden says at the APEC Summit that the US is seeking stable and good relations with China, that this is good for the world. He pointed out that the US wanted to be clear -"We are derisking and diversifying our relationship with China, not decoupling." This refers to the excessive dependence that happened in the relationship with China in the supply chain, in manufacturing, and in trade during the last three decades.

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President Biden describes the relationship with India as at an inflection point. Looking back decades from now this point will be where the US developed a new relationship with India, said Biden as he welcomed the Indian prime minister to the US. A closer relationship in manufacturing with new supply chain arrangements, trade, energy and fighting climate change, and increased investment, is planned. The US will jointly manufacture F414 GE jet engines in India.

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Stephens of NYT shows the effects of zero interest rates in shifting trillions of dollars of wealth away from the middle and lower classes in America. Zero interest rates in 2009 were a response to a financial crisis created by the irresponsible behaviour of Banks and financial firms in the US. The loss of manufacturing and shipping of jobs overseas added to the effects of zero interest rates in increasing poverty and deprivation in the US.

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Fiona Katauskas of the Guardian has this cartoon of "I just love the way he always speaks his mind," about the choice before Americans in 2024. Workers were being ignored in 2016- not anymore. In 2024 there is also action for climate change, for infrastructure building, for manufacturing renewal, for building working class incomes and wages, to consider. America has a choice for the right Way Forward.

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The Oxford vaccine manufactured and distributed by Astra Zeneca faced manufacturing problems in 2020. The company is fixing these manufacturing problems and plans to meet demand from Britain, the European Union, and the rest of the world. It plans to double vaccine monthly production to 200 million doses monthly by April. CEO Pascal Soriot says "Is it perfect? No, it's not perfect, but it's great, and tell me who else is making 100 million doses in February?" The Oxford vaccine has shown strong protection against severe coronavirus symptoms and is important in the fight against the pandemic. To tackle variants of the coronavirus the company plans to have another jab developed by autumn this year.

Britain and India are depending on Oxford vaccine to vaccinate large parts of the population. India has a second vaccine developed by Indian scientists at Bharat Biotech that is also in use.

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Serious problems facing Turkey's economy. Turkey takes on too many risks as exports cannot keep up with rising imports leading to a severe current account imbalance. Official statistics show the economic growth at 11% in the first quarter, with the growth coming mainly from the construction, retail and financial sectors, and a result of a surge in demand and rapid credit growth. Imports expanded at 42.6% , and exports at 11.7%. The Turkish manufacturing sector has not strengthening its competitiveness. And increases in manufacturing output come from increased imports- with 85% of imports being commodities and semifinished goods, according to an Istanbul economist who contributed to a recent 350 page strategy report commissioned by the Erdogan government. Fast economic growth comes from rapid growth in credit, and consumption demand, but the underlying manufacturing competitiveness and economic fundamentals show warning signs. The government of prime minister Erdogan- distracted by politics and efforts to change the constitution- appears not to have grasped the urgency of the situation it faces....

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The COE-Rexecode study warns about the loss of French competitiveness in manufacturing.

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Public sentiment shifts sharply against free trade in the March 2016 Michigan primary for the U.S. presidential election, with candidates saying trade agreements do not take into account the interests of American manufacturing workers making large gains. Between 1999 and 2010 public sentiment shifted against trade agreements for all age, education and income groups. A study by Autor, Hanson and Dorn showed loss of 5.6 million jobs in the last decade and large trade deficits, and demonstrated the effect by counties in the U.S. most hurt by trade policies.

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Softbank the epitome or synonym of waste on a huge scale of capital allocation for the last 2 decades in massively distorted capital markets when healthcare, childcare, manufacturing technologies and infrastructure is suffering from lack of funding, is hit with a loss of $23 billion for the second quarter which was one and half times the loss of the first quarter. As the WSJ reports Softbank and Masayoshi Sen was delirious in his own words during the tech booms of the last 20 years and its founder talked about bigger and bigger capital allocation even as productivity of capital declined rapidly. This happened astonishingly with little restraint in capital markets shown by participants even as healthcare in the ten years before the pandemic was not adequately funded, and education, infrastructure, manufacturing technologies were neglected which would have provided better returns on capital and served the interests of the American people and the world in a way that would have been said was well done had this been done. This went on astonishingly right into the pandemic period. Investments of about $50 billion were made in tech startup companies in 2021.  ...

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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. ...