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Christine Lagarde on the need to complete the planned reforms giving more voting power to emerging market countries China, S. Korea, Brazil, Mexico, India and others. This woud not change the U.S. voting power of of over 16%. The reforms would also increase contributions from these countries. This issue is likely to come up in meetings of finance ministers in Australia in 2014.

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A World Bank 2008 Report concluded that Brazil's current state of education would lead to its falling behind other developing economies, and act as a constraint on growth. Brazil's 15 year old chidren came in 49th out of 56 countries on the reading exam for the Program for International Student Assessment, with more than half scoring in the test's bottom reading level in 2006, with scores in math and science worse than that. Of the 25 million workers who could join the work force in 2010, about 22% are not considered qualified for the labor market, according to a government report. The World Bank Report says Brazil stands to miss out on the "demographic window," in which increasing numbers of younger workers make the economy more productive, unless it addresses problems in education.

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Finance Minister Joaquim Levy, a University of Chicago trained economist, is replaced by planning minister Nelson Barbosa, as the new Finance Minister of Brazil. President Rousseff faces criticism as Brazil's economy contracts and ordinary Brazilians feel the effects of fiscal austerity policies pursued under Levy. Former president Lula da Silva was critical of Levy's policies.

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Raphael Minder points out one episode in the life of Emilio Botin that shows how intertwined Spain and Santander had become. During the period when Spain took EU help after the collapse of Bankia bank in 2012 there was pressure on Spain to take a full government bailout. Finance minister Guindos says it was Botin who called him at that time and told him: "You know what you have to do and I will back you up." Botin's advice to the Spanish government was to resist the pressure. Botin expanded what was a family bank based in Santander in Northern Spain, through a series of successful acquisitions. He had a rare intuitive sense for timing of acquisitions, going into Brazil around the time candidate Lula of the Workers Party was elected president, with considerable uncertainty about how financial markets would respond to the election. About a quarter of the bank's profit now comes from Brazil. Besides Brazil Santander has commercial banking presence in Britain and the U.S., taking a bank that had 20 billion euros in assets in 1998 to 1.1 trillion euros by 2013, which is about the value of Spain's GDP....

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Avatar's success in global markets with two thirds of its $1 billion in sales from overseas. Markets like Russia and Brazil are becoming important in addition to France and Germany. 3-D theatre prices are higher and this adds to revenues. The politics of the movie with earthlings capitalists trying to mine a mineral on another planet and in the process displacing nautre loving humanoids, also served to increase its popularity in other countries.

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This view in DW.com looks at the rising inequality in Chile and the devastating inflation of over 50% in Argentina, the failure in providing basic public services such as sanitation in Brazil, as failures in the economic models and also in the lack of social solidarity within Latin American nations.. The pursuit of "what is the most of what I can get" in place of "what is the best I can do so that the country and people benefit as a whole including myself as part of that society." Argentines have billions of dollars overseas, and billions are stored in homes outside of banks because no one trusts the government or banks to keep inflation in check. In Chile the economic model accepts high inequality as a norm. In Brazil much of the public spending goes to generous pensions crowding out basic services such as transport and sanitation. In each case one section of society looks after its own interests at the expense of the society as a whole leading to a breakdown and misery for all. ...

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Greg Ip says in WSJ that China turned to lender after 2010 and financed loans for development, for roads, highways and infrastructure in Asia and Africa. Between 1970 and 1990 the World Bank was extensively involved in infrastructure projects, by 1990 it retreated from this role and China after 2010 was lending at double the rate of the World Bank for it Belt and Road Initiative programs. At G20 New Delhi, India, Biden and Modi, leaders of Brazil, and South Africa, agreed on advancing the World Bank's loan capacity by $100 billion for next decade under leadership of Ajay Banga. Thjis is happening at the meeting of finance leaders in Marrakech, Morrocco in 2023. The IMF and the World Bank were set up after World War II under the agreements signed at Bretton Woods, New Hampshire, as postwar finance system. The IMF was to serve as lender to countries facing short term finance crises, and the World Bank to finance development in poor countries such as India, Indonesia and after 1990 China. The largest borrowers from the World Bank were India, China and Indonesia. India is at $37 billion loans outstanding in 2021, China at about $21 billion after repaying much of its loans. By 2010 Brazil, Mexico, China and India had shifted to international capital markets for development support. Total outstanding debt of World Bank is $460 billion in 2021. ...

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Canada is joining a club of nations that are dependent on exports of raw materials to China for growth- Australia, Brazil, Malaysia and Peru. This means that Canada's central bank takes its cues from demand in China, India, Korea and other emerging economies when it sets rates. With Canada's growth at around 3.1% in 2010, Canada's central bank is expected to increase rates gradually even as the U.S. keeps its rates low.

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776 million euros -cost of COP30 Summit in Amazon region's Belem, capital of Para State in Brazil. 159 countries are represented in this unique effort to bring climate change issues to the Amazon river. The Portuguese colonized this region in 1616 because of its location connecting the Amazon river to the Atlantic Ocean. It is known for sale of spices, fruit, fish, rubber, oil, cacao and other local products shipped to Europe and other parts of Brazil.Ver-o-peso one of the biggest open air markets has been renovated, roads repaired and new roads built, new parks, water treatment plants set up.Yet most of the population of 1.4 million lives in shanty areas or slums in Belem which are affected when rain leads to floods overwhelming the tin roof houses. Much of the nearly billion euro investment is going to bring Belem to international standards. Housing 50,000 participants was ahuge task and the Brazilian government of president Lula brought in 2 large cruis ships to accomodate many of the participants. This report in FR24 says prices for accomodation reached $4000 a night which shows that in today's world climate change action which is a problem facing all people, has been embraced by groups that can afford such costly daily rentals creating skepticism from ordinary people affected by the cost of living concerns. ...

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French coach Herve Renard has coached teams from Zambia, Saudi Arabia and other countries. Just one year after he brought Saudi Arabia into World Cup Soccer headlines with a win over Argentina, he is coaching the women's team of France. He is eager to take on something new and offered to coach the women's team after French players Wende Renard and Sommer had a falling out with the coach Deacre. Herve Renard has brought some calm to the team, wins over Brazil and Morocco, and a chance to make it to the finals.

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Suriname a small country of 600,000 people near Brazil, joins other countries with debt problems such as Pakistan, Sri Lanka, Zambia, and others which have piled up debt borrowing with unsustainable debt payments. About 545 million borrowed from China and total $2.4 billion in debt accumulated. It is now negotiating with the IMF for $690 three year loan. The US says China has to agree to join in reducing the debt burden so that the cost of assistance does not fall only on the US as the IMF's largest shareholder. 

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Mediators Pakistan, Turkey sought to separate Iranian nuclear issue to a second stage with a vague Iranian commitment to discuss the issue and future dragging of feet by Iran. The US DJT administration has made this the only issue that must be settled first before a settlement can be reached, and not by a repeat of the half hearted effort by the Obama administration that led to reconstituting Iran's nuclear effort a second time with US financial assistance. For a day on Saturday it appeared that mediators Pakistan and Turkey had accomplished for Iran just that, to the alarm of Republicans in general and in particular senior Senator Graham. Many sections of the media including the WSJ and the business community, see this as a repetition of the mistakes made by Obama and his administration. Not only did Obama not act to work with Republicans on a border policy- simply protecting himself from Republican attack by deportation policies. Obama continued the war in Afghanistan/Iraq for the same reason to protect his chances for reelection. He also used immigration policy to get the Hispanic vote in the closing months of the reelection year. Obama's other foreign policy failure was in believing Iran had been persuaded to give up nuclear weapons, and gave Iran the financial backing that could easily be shifted from economic to military uses and rebuild the nuclear program,  which he has handed to a future Republican adminstration. Obama also ignored how this would affect the economic wellbeing of the Iranian people with the kind of protests and suppression that has happened in 2026. Democrats and the media, some Republicans, are simply ignoring these errors and have never really faced up to the problems in the Middle East and asked the question why there are 5 decades of wars in the Middle East, and coups, strife, wars for the entire period since 1950. In this situation the US, China, India, EU, Brazil and other nations can learn from this experience and act to secure alternative sources of energy, speed up renewable energy transition, and rapidly end all dependence/intervention on a perpetually strife ridden Middle East, which much of the US and international media in a baffling way ignores or does not say outright. ...

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Why China India Brazil see the old liberal order discussed at Davos Switzerland, based on the world in 1947 not reflecting growth of Asia in 2026, and not serving the working class or middle class. UK's Farage says it is about people at Swiss Ski resorts deciding what the world should look like. Today the Swiss cannot even take their trade arrangements with the US for granted after US tariffs on entrenched unfair dealings in trade with the US. There is a growing perception in the UK and US and many parts of Europe that this so called liberal order is not working for the people of these countries. China and India, Brazil, see that arrangements set in 1947 as part that order that is cherished by the folks at Davos, and not reflecting the growth of these countries in 2026. The attitudes at Davos may be the most at issue, with Swiss and French attitudes not reflecting the situation in France which is deeply divided between the rural parts of the country and the urban areas about the direction of the country and the need to make life better for the working class and the middle class. In many ways the people of the US and of Europe share this huge rural vs urban divide made worse by the deindustrialization and shipping of manufacturing overseas to Asia.  Looking back at US history provides better clues- many of the same improvements made by Lincoln as Republican, Theodore Roosevelt as Republican, Franklin Roosevelt as Democrat, JFK as Democrat have created the society Americans cherished for so long and was the beacon to the world, which is not about this so called liberal order but rational step by step corrections of course and improvement after improvement, and offer a pathway to the future better than the whole host of politics and politicians that failed America and Europe. ...

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The effects of China's slowing economy on food exports of Argentina and Uruguay is likely to be small because of China's continuing need for imports and the food contamination from widespread pollution. Commodity producers of iron ore in Australia and Brazil see the rising wages in China and pollution controls reducing the gap between locally produced iron ore and imported iron ore.

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Britain's GCHQ takes on Russian disinformation on the vaccine in an offensive cyber-operation. One of the problems it faces is the social media platforms where information spreads quickly. As one looks at the emergence of social media as a form of communication in the last 5 years it is clear that it has significant drawbacks particularly in health field, as it has spread disinformation for efforts on other vaccines in Brazil and other countries.

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This is what our energy wars, our climate change wars are about in summary. Europe has moved faster than the US, India and China in cutting fossil fuels use over 20 years 2005 to 2025. Europe going from 1525 trillion watt hours to 792- cutting use by half. The US from 2900 to  2553 trillion watt hours just 12%. And China...China tripled its use. This has come at a price as the costs of renewables push up electricity prices beyond what homes and industry can support. UK electricity prices 80% higher than US and half of UK energy users plan to ration its use 2025. Half of electricity costs in UK come from cost and delivery, other half of costs from subsidies of renewables and other. In Germany high electricity costs are hobbling industry and reducing economic growth. Lower electricity prices make the US more attractive than Germany as a place to invest. Another way to look at it- US and Europe cut fossil fuel use by about 1100 trillion watt hours and China increased its use by 4200 trillion watt hours or 4 times what the US and Europe cut in 2024 over 2005. Adding India, Brazil this would be 5-6 times what the US and Europe saved in 2024 over 2005. The "And "strategy of combining reduction in fossil with building renewable capacity is working out compared to dumping fossil in one shove and going all out renewable. There is also the question of equity. China and India argue equity means we should be allowed to use some fossil with renewable for 2.5 billion people's needs. The other side of equity is the US saying the same as "no fossil period" strategy puts the needs of the large part of the population for lower costs of energy  pushed aside as wealthy classes say it is OK. Even when the savings through cuts and sacrifices in US and EU are cut down, cut down by 5-6 fold increase in China, India, Brazil alone. In this kind of climate change war it makes sense not to go with labels such as climate change denial DJT vs China climate change affirming, when China is diluting US-EU climate change entire twenty year savings of 2005-2024 by a factor of 4, 1100 trillion watt hours wiped out by China's 4200 trillion watt hours added. And India, Brazil taking this to a factor of 6. This is why a lot of the discussion with self-righteous indignation becomes less purposeful. What is clear is that every action to cut cost of living in US and EU for large parts of the people is an effort in the right direction as it frees up resources for the fight against climate change, the sense that we are all in the same boat and in the same struggle. The fight against cost of living is part of the long run struggle against climate change. ...

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When shortages of wheat following the war in Ukraine are causing a crisis in some countries such as Egypt and Africa, there are other unusual changes  as emerging market currencies such as the Brazilian Real and the Chilean Peso, South African Rand are increasing in value. Even with the strengthening of the US dollar the supply chain disruptions are benefiting exporters of soyabeans such as Brazil and Argentina, and copper such as Chile with strengthening of their currencies. The Brazilian Real has strengthened by 13%. The WSJ calls it the sharpest commodities rally in modern trading history. One analyst says this is unusual how emerging market currencies could rally in the first quarter of 2022 with war in Ukraine, supply chain disruption, strengthening dollar reaching almost parity with the euro.  Today this is a positive sign for the Free World in Latin America. Currencies weakening are ones in countries exposed to a sharply slowing Chinese economy and rising energy costs such as Thai Baht and South Korean Won.  Brazil's central bank is also increasing its lending rate to the highest level in 5 years. Other American allies in Eastern Europe such as Poland which has taken in 3 million Ukraine refugees are also seeing a strengthening currency in this new situation. The National Bank of Poland increased its key lending rate by three quarters of a point to 5.25% which has attracted investors to the Polish currency the Zloty. ...

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Britain recorded the most deaths in Europe. Brazil and Russia have over 10,000 cases of coronavirus each, and the U.S. records cases close to that in the peak in April. Cases were up worldwide for May 6 to 92,000 with a quarter of these cases or about 24,000 in the U.S. The jump in cases takes the total to 3.77 million with a third of them in the U.S., according to John Hopkins database. Russia and Brazil had a slow start but are now registering large numbers of cases showing that India and other countries with limited testing could face the same situation. Russia has ramped up testing, and so have the U.S. and the UK. Moscow's mayor Sergei Sobyanin says for example that about 300,000 of the 12 million people in Moscow have the virus based on sampling surveys, more than 3 times the confirmed cases. Restrictions remain in place in Moscow beyond May 11.  Countries that were hit earlier by the virus such as Spain and France are reopening gradually after May 11. France will use red and green zones to handle restrictions so that the restrictions are customized to each place in the country. ...