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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.


The Guardian Original article ›
LyrArc Article Gist
Scientists say 6out of 9 global climate resilience boundaries have been crossed. It is based on 2000 studies and published in the journal Science Advances. Broken boundaries means the systems have been driven far from the safe and stable state that existed, from the end of the last ice age 10,000 years ago, to the start of the Industrial Revolution, says Damian Carrington in The Guardian. We are outside of safe operating space say scientists. Prof. Johan Rockstrom, is head of the Stockholm Resilience Center, who developed the boundaries framework. He says more worrisome than all the extreme climate events we are seeing is the dwindling planetary resilience. For fresh water in lakes and rivers and soil it was crossed earlier in the 20th century. Synthetic pollution from plastic waste in 2022. Nitrogen and phosporous, according to FAO 3 times safe levels added every year. For air pollution it was crossed in South Asia and China. Planetary boundaries is combined with social justice issues in a May assessment so that pro development policies to help the poor can be combined with major investment in climate change action. ...
New York Times Original article ›
LyrArc Article Gist
How the situation in Georgia is viewed in Prague which saw an invasion by Rusiian tanks in 1968. The experience of the former eastern european countries like East Germany, Poland, the Czech Republic and the Baltic states and their suffering during the soviet occupation is balanced against the humiliation the Russians say they feel after the collapse of the Soviet Union and Jiri Schneider has a point here, she is from the Prague Security Studies Institure a private research group where she is director. She says she is concerned about the mentality which is tolerated or the notion that we should understand that this is somehow the natural reaction to the Russian humiliation after the end of the Cold War. Why not make a fresh start? And it certainly has not helped that some in the western countries and some in Russia cling to old cold war type rhetoric, when Russia which has a European outlook and culture is better off integrating with the rest of Europe even after outbursts that ocurred with the Georgian crisis about humiliation. It is said that Sashkavili played into Russian hands when he attacked the South Ossetian capital Tshkinvali, it could also be said that Russia is playing into Georgian hands when it with larger interests than that of Georgia in the world, including economic goals and integration with the rest of Europe would let Georgia and its politics determine its future in Europe and the world. ...
The Indian Express Original article ›
LyrArc Article Gist
Shinzo Abe had a vision of a broader Asia. In Abe's own words- " A broader Asia that broke away from geographical boundaries is now beginning to take on a distinct form. Our two countries have the ability - and the responsibility - to ensure that it broadens yet further and to nurture and enrich these seas to become seas of clearest transparence." He added "By coming together in this way, this 'broader Asia' will evolve into an immense network that will span the entirety of the Pacific Ocean, incorporating the United States of America and Australia. Open and transparent, this network will allow people and goods, capital and knowledge to flow freely." It is this vision that is taking shape today in 2022. And India's unique role in Asia was grasped by Abe. Abe reminded Japanese and Indians of the unique contribution of Vivekananda, calling him a great spiritual leader India gave to the world, and stretching back to many others way back in time to Bodhidharma, and then way back from that to one whose name all know.  During one of these visits to India Abe said- "Vivekananda came to be acquainted with Tenshin Okakura, a man ahead of his time in early modern Japan and a Renaissance man, Okakura was then guided by Vivekananda and also enjoyed a friendship with Sister Nivedita, Vivekananda's loyal disciple and a distinguished female social reformer. Many people are aware of all that." Praising India's spirit of tolerance Abe said- "From the reign of Ashoka the Great to Mahatma Gandhi's Satyagraha movement of non violent resistance the Japanese people are well aware of the unbroken spirit of tolerance in Indian spiritual history." Vedanta and Buddhism went from India through Bodhidharma to China and then from China to Japan with Dogen and other spiritual leaders from Japan bringing it from China then called the Pure Land in the 13th century. Vedanta and Buddhism now finds it way centuries later from India to Japan- from where it moves onwards to China and East Asia. ...
New York Times Original article ›
LyrArc Article Gist
This election marks the end of the New Labor vision of a better life for an upwardly mobile middle class in an expanding market economy. It started with Tony Blair presenting his centrist post Thatcherite vision and ended in the storm that took over the British economy during the global financial crisis under the stewardship of Gordon Brown. An earlier generation also experienced something like this when Harold Macmillan, was the Conservative prime minister, and Britain experienced a post war economic surge which improved living standards for an earlier generation. The election results far from creating a new vision of Britain, put Britain in a muddle as one observer put it, with all parties short of a majority, and the Liberals ending up with fewer seats.
New York Times Original article ›
LyrArc Article Gist
The breakdown of railways in Iraq. A major contribution of the European powers was the rail systems built throughout the Middle East and Asia. Iraqi Railways which once connected farflung provinces in the Middle East in Syria, Iraq and Turkey, is now in a dilapidated state after years of wars and conflict. Tim Arango visits the Baghdad Central Railway Station as a new Chinese built train leaves Baghdad for Basra. Most of the rest of the country is now not reachable by train. Mosul and the north is in a war zone with the ISIS and Kurdish army engaged in battles. A project manager at the station shows plans for a $60 billion new rail system that connects all of Iraq's cities.
France 24 Original article ›
LyrArc Article Gist
Italy marked the 75th anniversary of its liberation by Allied Forces with a singalong of Bella Ciao, a protest song from the period of the war. Italy has lost 26,000 lives in the coronavirus outbreak, and this has been compared to Italy's fight against fascism during the war.

NYTimes.com Original article ›
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Could S. Jaishankar borker a peace in the Ukraine Russia war. Mr. Macron thinks India's Jaishankar and Modi could help set up a peace agreement. Germany's chancellor Scholz visited Beijing and called for an end to the war with president Xi of China. Jaishankar India's most experienced diplomat with long periods as a diplomat in China, is expected to visit Russia for setting up the groundwork for a peace settlement even though its outlines are not evident at this time.

DW.COM Original article ›
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At a time when the Ukraine war has hurt poor countries Germany plans to cut its development aid by 12% in its draft budget. The budget is expected to shrink to 10.8 billion euros at a time when defense budget is increased to 50 billion euros. The boost to defense is a result of the war in Ukraine. Germany is also set to cut its contribution to the World Food Programme by 50% to 28 million euros. Russia and Ukraine supply wheat, cereals to poor countries. High energy prices also affect these countries.

DW.COM Original article ›
LyrArc Article Gist
Jeremy Corbyn is reelected leader of the Labor Party with the support of young people. He is seen here from the European viewpoint as a disaster for Britain. The parliamentary group of the Labor Party opposes Corbyn, and is critical of him for not supporting the Brexit no vote the way he should have. Corbyn did not come out strongly in favor of staying in the EU, giving it a 7.5 out of 10 score when asked how he would rate the EU. Only a fifth of British voters support the idea of Corbyn as prime minister. He is good at bringing people's concerns for attention at prime minister's questions, rides a bicycle to work, and is honest about his convictions. Yet this is not enough to be effective as a leader of the opposition who lacks the support of his party's members in parliament. Corbyn has also dropped people with different opinions from the leadership in the Labor party in a nasty fight with people who disagree with him, which is bad for the Labor Party. This has weakened Labor to the point where it cannot function as an effective Opposition Party, especially now that Britain enters Brexit negotiations and needs an opposition to act as a check on the government's policies. The Economist magazine in London shares these concerns in an editorial. ...
WSJ Original article ›
LyrArc Article Gist
Typical of so much of what is written about the World Health Organization and its role in the pandemic, this podcast in the WSJ fails to quickly convey the critical function of the WHO as an early warning system the world has depended on, including China. The H1N1 epidemic originated in Mexico. Asian countries including China and India depended on very quick response from the country where the epidemic originated  in allowing entry into the affected area for experts from advanced countries such as the U.S. The global response was then coordinated across countries quickly with complete transparency. The head of China's CDC himself faced a problem with transparency with the provincial authorites in Wuhan. 1.    Fundamentally this quick entry was denied the U.S. Request by U.S. to China was made on Jan. 6 for U.S. team to go to Wuhan, quick permission was denied and given only about 6 weeks later on Feb 16. This delay is the crux of the problem for the U.S.. Taiwan confirmed human to human transmission on Jan. 1, the WHO was saying this was not clear as late as Jan. 14. These costly delays are what the U.S.  letter is about.  The head of the CDC China Gao Fu called Dr. Redfield head of CDC in the U.S. on the next day after he suspected Wuhan provincial authorites were vague about what was happening. Gao Fu was alarmed when scanning the internet on December 30, 2019, about rumors of a vaguely worded lung disease in internal memos of Wuhan. He called Wuhan authorites and was not getting clear answers on that day, then deciding on December 31 to send his own team to Wuhan, as reported in German magazine Der Spiegel- Hackenbroch, Zand, 05/20/2020.  Der Spiegel says in its special report on the early period in Wuhan that Gao Fu was so alarmed about what was happening enough to be in tears in his series of calls with Dr. Redfield in the immediate days that followed. The date was shortly after the GAO Fu sent the team to Wuhan, December 31 and New Years Day 2020, as reported in Der Spiegel. See the link to Lyrarc gist of Der Spiegel's "A Failed Deception: The Early Days of the Coronavirus in Wuhan."  2.  President Trump points out the standards of the WHO- in the concluding point of his letter to WHO- when a three time prime minister of Norway, Gro Brundtland was head of the WHO during the SARS crisis of 2003. She acted quickly and decisively and no time was lost. It is this failure of the early warning system under the new president of the WHO after 2017 Dr. Tedros that alarms the U.S.  with about 100,000 deaths.  3.  This failure it can now be said was partly a result of a election in 2017 for the position of WHO president which was flawed. This was the first time a WHO head, an important position was put up for an election. The Executive Board was responsible for this appointment since the founding of the WHO as part of the UN, based in Geneva, Switzerland, after World War II. This system worked. The election was clearly a bad process for appointing the president of the WHO which should be done entirely on the capabilities of the person holding this position not on a flawed voting process. It is flawed because India and Bangladesh hit by a cyclone during the coronavirus have suffered greatly, as have other countries, but had only 2 votes for 1.5 billion people, when Barbados (385,000 population) and Laos (7 million) which had less than one  hundredth the population had the same number of votes. The U.S. had one vote. The election resulted in lobbying and a process in which many candidates stayed away because they simply would not go through such a process. The position was too important to the world- most of the advanced countries had forgotten about the danger of epidemics to let this happen by 2017, as shown in the way the austerity years led to cancellation of the preparations for pandemic in France and Britain. The austerity years and neglect of public health during these tech boom years in the western world made it possible for this to happen. 3.   Along with the 1 month ultimatum action is already being taken to restore the effectiveness of the importance of the Executive Board. The head of the health ministry in India, Dr. Harsh Vardhan, has been appointed the new chairman of the Executive Board on May 22. This restores the voice of billions of people in Asia in the process, and brings the major countries with the greatest risk in a pandemic into the decision process for tackling the pandemic, this includes the rest of the world.     ...
New York Times Original article ›
LyrArc Article Gist
Russian president Putin talks to journalists at his year end news conference in Dec. 2015. He has sharp words for Turkey, saying Russia's advanced air defence system S-400 is now in place to prevent any attacks on Russian war planes over Syria. And says the costs of the bombing campaign in Syria comes out of the Defense Ministry's training budget. Putin calls Donald trump "a very bright and talented man." He tells Russians that the Russian economy was coming back after a sharp recession. He points to Russian life expectancy at 71 as one achievement of this period, as the government considers raising the retirement age to conserve resources.
The Wall Street Journal Original article ›
LyrArc Article Gist
Much of the talk of risk posed by crypto digital assets when central banks around the world cautioned about crypto digital risk is less heard in 2026 with crypto companies financing of the DJT campaign. Banks remain wary of crypto digital assets and of new legislation supported by Coinbase to legitimize crypto assets. Most banks pay very low interest rates of 0.1% on small deposits and this also presents a problem, though there are options where some banks offer rates of 2-3 percent.

The Guardian Original article ›
LyrArc Article Gist
How the visit is presented in China, what the Chinese people are seeing of the US president live and on their screens, and of the two leaders Xi and DJT agreeing to a policy of mutual respect and harmony in relations after a decade of mistrust during both the first DJT and the Biden administration. The choice was clear- mistrust and risks for world peace or the mutual respect that leads to harmony in relations. And both leaders are making the educated, decent and good choice.

Washington Post Original article ›
LyrArc Article Gist
Ishaan Tharoor provides a brief history of Russia's intervention in Syria and its role in the Middle East since 1950. This does not mention the Dulles period under Eisenhower in U.S. politics when the U.S. engaged in the Cold War withdrew support for building the Aswan High Dam, thinking that the Soviet Union would not come up with support. The Soviet Union under Krushchev provided $1.2 billion at 2% interest in 1958 for building the Aswan High Dam- constructed from 1960-1970- which helped increase irrigation and crops in the Nile river region and reduced the damage from droughts and floods. Soon after the dam was built it provided about 50% of Egypt's electricity. This was the high point of Soviet Union's economic engagement, latter support was defined by military arms supplies and led to the Six Day War, and the economic stagnation of the economy under Nasser's successors from the military. The Soviet Union was actively engaged in Iran with a Russian and British zone in the country in 1907, soon after the flowering of an effort to write a democratic constitution 1900-1907 for Iran with the help of British intellectuals, similar to the failed effort of the Arab Spring today. In neighboring Afghanistan the Soviet Union fought a long war under Brezhnev, contributing to the unravelling of the economic structure of the Soviet Union before the fall of the Berlin Wall. The British were primarily focussed on protecting oil interests in Iran in the period 1900-1950, yet contacts with British civil society led to the first grasp of democratic constitution and processes in Iran during this period. The American intervention funnelling arms support to the Saddam regime in Iraq in a war Iraq initiated against Iran 1980-1988, marks a low point in American intervention similiar to the Russian intervention in Iran-Iraq-Syria today. It may also define some of the problems of today because of the length of that war, the entrenching of military in the government in Iran, suspicions of the U.S., and the possible sense of a need for nuclear weapons to prevent attacks on Iran, as Pakistan has done in its conflict with India, though this is rarely brought up in discussions. The American arms support intervention, led to a series of cascading conflicts since 1980 with the invasion of Kuwait by the Saddam regime in 1990, the destruction of Shia in the marshlands of Iraq after a flawed peace agreement, and the follow up to that conflict with George Bush's invasion of Iraq on grounds of WMD development in 2003 for the 2003-2011 Second Gulf War including the Surge. The arms support of the Saddam regime in the war it initiated against Iran, was policy designed under President Reagan 1980-1988 following the hostage crisis and the Islamic revolution in Iran in 1979. The cascading crises with Iran and Iraq may not have led to this level of conflict and disruption, refugees and deaths in the Middle East, if American policymakers had heeded George Washington's advice during his presidency, that your enemy's enemy is not your friend when it comes to framing policy- for this reason Washington as president did not see it in the national interest to get involved in conflicts between Britain and France beginning in 1793, France having aided the American side against the British in the War of Independence. In the Proclamation of Neutrality, Philadelphia, April 22, 1993, he says: "Whereas it appears a state of war exists between Austria, Prussia, Sardinia, Great Britain and the United Netherlands, on the one part, and France on the other; and the duty and interest of the United States require, that they should with sincerity and good faith adopt and pursue a conduct friendly and impartial towards the belligerent powers.." And in a letter to Patrick Henry offering him the position of Secretary of State from Mount Vernon, October 9, 1795, Washington says: "My ardent desire is, and my aim has been, to comply strictly with all our engagements, foreign and domestic; but to keep the U States free from political connexions with every other Country. To see that they may be independent of all, and under the influence of none. In a word I want an American character, that the powers of Europe may be convinced we act for ourselves and not for others, this in my opinion is the only way to be respected abroad and happy at home and not by becoming the partizans of Great Britain or France, create dissensions, disturb the public tranquillity, and destroy perhaps for ever the cement which binds the Union." At a time of passionate political debate, it is time to step back and reflect on lessons that can be learned from the founding fathers about the way they tackled the important issues of their time....
The Guardian Original article ›
LyrArc Article Gist
A riverside project on the banks of the Sabarmati in Ahmedabad gives the city of 10 million a new look. The project is similar to ones on the Thames in London and Seine in Paris bringing new park space and areas for of public space for a rapidly growing city. Guardian Cities is looking at 15 new cities with population growing to exceed 10 million by 2035- from Tehran, Iran, to Luanda, Mozambique, Hyderabad, India, Ho Chi Minh City, Vietnam, Surat, India, Kuala Lumpur, Malaysia, Chengdu, China, Dar es Salaam, Tanzania. The way this was done was to develop a self financing model. This was the work of architect Bimal Patel who proposed selling 14% of riverfront land of 200 hectares to recover costs. The Sabarmati Riverfront Development Corporation spent 161 million dollars to build new housing for 11,000 displaced families who worked in squatter type housing on the riverbanks as domestic workers, clothes washers. The riverbed had become for decades a dumping ground for city waste. The goals were to provide access for public to the river front and clean up the water with water treatment plants. Bimal Patel calls the project one of three generations as  will take another three years for new water treatment plants. The Ahmedabad Municipal Corporation bears the cost of about $220 million. The famous Sabarmati Ashram of Mahatma Gandhi lies along this riverfront and it gives this sacred space in India's history, the home of Mahatma Gandhi for many years in the struggle for independence, a healthier, brightened space along the river. ...
WSJ Original article ›
LyrArc Article Gist
The G7 countries including the US, France and Germany  and the European Union now support setting a oil price cap of $60 per barrel for Russian oil. This price cap of $60 goes into effect December 5, 2022, and require western companies that do most of the shipping and distributing for Russian oil worldwide to comply. The US favored oil price cap of $65 set at what Russia earned historically on oil exports. Eastern European countries such as Poland wanted to set the price cap on Russian oil much lower at $30 what it costs Russia to produce oil so that it would crimp Russia's ability to wage war in Eastern Europe that has brought millions of refugees to Poland in 2022.  There were also other prices of between $65 and $70 that were proposed by the European Commission. The US wanted to give Russia some incentive to continue its oil exports which it had threatened to stop if the oil price cap was set -and avoid a situation in which oil prices that hit $120 a barrel early in 2022 would not jump to hit $140 a barrel.  Poland has called for a review every 2 months of the oil price cap so that it is close to the market cap. In November 2022 Russian oil is being sold at about $48 per barrel discounted from Brent crude at $86. The $12 difference between $48 and $60 is the US saying to Russia that it is working with moderation just as it had supported Ukraine with air defenses but acted with restraint to limit that to avoid provocative attacks on Russian soil. What does a cap on Russian oil price mean and how is it possible? Western shipping companies ship the oil out of Russia and distribute it around the world. This advantage of the G7 countries is what it intends to now use to bring an early end to the war in Ukraine by cutting into Russian oil generated funding for the war. Shipping an insurance companies that insure shipping based mostly in the west are now required to comply and not carry supplies bearing a price higher than $60.  ...
WSJ Original article ›
LyrArc Article Gist
You didn't have to be poor to be frugal. American frugality was a way of life on the prairies and farms of America for most of the eighteenth, nineteenth and first half of the twentieth century. It was only after 1950's that piles of consumer products were discarded to pile up in rubbish mountains somewhere in the Atacama desert in Chile by 2020. The over use of plastic contaminated the land and the oceans. The consumer debt led to money sent overseas that could be invested in America so that workers could have good jobs and American manufacturing could hold its place in the world as second to none.

As old habits are revived some areas in America from upstate New York to upstate Michigan still cling to the old values as shown in this report by Claire Ansberry in the WSJ. 

 

The Indian Express Original article ›
LyrArc Article Gist
This is the 103rd anniversary of the Battle of Haifa which led to the liberation of Haifa from Ottoman rule. The battle was fought by the British with the help of the Mysore, Hyderabad and Jodhpur Lancers who played a critical role in the battle. Little is known about this role even though it is an important contribution to the India-Israel relationship as it evolved over the last 200 years. The battle to liberate the port city of Haifa was fought during the British efforts to free people under Ottoman rule in 1940-1945.

This is only one aspect of the Indian army's role in two world wars in which it played a significant role stretching from North Africa to Asia. This is also significant as part of India's relationship with the democratic countries of the world and the Indian effort to fight Nazi and Japanese imperialist expansion under American and British leadership.

Washington Post Original article ›
LyrArc Article Gist
The Wash. Post says the former president's speech as it wore on for 90 minutes rambling on without clarity on discussion of issues and policies for the future was a missed opportunity. Nothing was said about bringing down the cost of living when so many actions on multiple fronts are needed. Nothing on climate change or climate change action but leaving it out out of denial it exists during the worst heat waves and floods in a century. It is now Biden's turn to spell out the details of policies for cost of living action step after step of action, says the Post. Post readers say so far the Post titles and phrases it uses are more out of social media and ask ominously is it itself turning into social media as shown by the post of Letters it has received on coverage of Biden and the future 2024-2028 on this Lyrarc page.

POLITICO Original article ›
LyrArc Article Gist
Harris will visit United Autoworkers Union Local 652 in Lansing to remind autoworkers of the support of president Joe Biden for the labor movement in the US. And for the efforts for restoring jobs and wages after decades of neglect by both previous Democratic and Republican administrations. Biden was the first US president to stand on a picket line inthe history of the US. Harris-Walz now look to unions and labor support, support of workers and families in the industrial midwestern states. For the first time old rust belt factories are being revived with new infrastructure renewal and new technologies products in a new concept that is tried for the first time at a scale of investments of billions of dollars that was never done before. This is the breakthrough that Biden and now Harris  are putting through as The Way Forward for a new generation and the Renewal of America.

New York Times Original article ›
LyrArc Article Gist
Veterans of the Iraq conflict see a decade of efforts in Iraq being undone in 2014 with increasing sectarian conflict and the spillover from the war in Syria.
WSJ Original article ›
LyrArc Article Gist
Montes and Cordoba of the WSJ provide this exceptional account of corruption at the state level in Mexico. Ironically the very effort to reduce the power of centralized administration with PRI winning repeated elections and having a monopoly in power for many years, led to the decentralization and passing on power and money to the state governments in Mexico after the 1990's. But this was done without putting in the checks and balances required. Instead too much power was now concentrated in the hands of the state governments which appointed even the judges and officials at all levels including election bodies. Federal transfers of tax money to states increased 20 fold to $88 billion in 2016, according to this report.  The result 41 state governors faced corruption charges between 2000 and 2013, according to the Mexican Competitiveness Institute. This includes the state of Veracruz where state coffers are almost empty and there is no money to pay municipal bodies. The PRI governor of Veracruz Mr. Duarte supported president Pena Nieto, and was at 43 years age cited as the new face of the young PRI. This report  says he is nowhere to be found now that $2.5 billion in state funds cannot be verified. Other states are Tamaulipas, Quintana Roo, Coahuila, Sonora, where corruption charges remain. The Veracruz scandal is among the worst and is the focus of attention for the public in Mexico. At this point president Pena Nieto of PRI has about 12% popularity rating, lowest of any modern Mexican president.   ...
WSJ Original article ›
LyrArc Article Gist
The resignation of U.S. Defense Secretary Mattis comes as a result of Mattis being unable to change plans by president Trump for a withdrawal from both Afghanistan and Syria. WSJ discloses that at a meeting on December 18 at the Pentagon, with John Bolton, White House National Security Advisor, Mike Pompeo, Secretary of State, and John Dunford, chairman Jt. Chiefs of Staff, Mattis could not temper the president's plans. On Thursday December 20th Mr. Mattis decided to resign. He then met Mr. Pompeo and onto the White House to meet president Trump. He and Mr. Trump discussed their contrasting world views in a 45 minute meeting, and Mr. Mattis handed over his resignation letter to Mr. Trump. Military officials were particularrly blindsided by the withdrawal from Syria. U.S. policy has vacillated back and forth in the intervention in Syria with president Obama also hesitant to commit troops in Syria. In the meeting Mattis understood that even a minimal presence in Syria was unacceptable to president Trump who ordered the removal of the 2000 troops there. The withdrawal from Afghanistan was also a result of limited patience with the war there in the 18th year and no sign that the Taliban influence had diminished since the war began- after Trump added 3000 troops to the 14,000 stationed in Afghanistan. The U.S. has 5500 troops in Iraq and there is talk about drawing this number down. The concern for the defense department is that how U.S. allies will see the withdrawal, and their perception of how reliable the U.S. is as a partner. For president Trump the cost is measured in terms of the long period the U.S. was engaged in the region without any tangible results, and U.S. not allies bearing most of the cost.      ...
WSJ Original article ›
LyrArc Article Gist
China's government is taking up stakes in private companies with large debt and needing financing. Private enterprises have less access to cheap bank loans and other types of financing than state owned firms, and are squeezed by China's efforts to reduce pollution and overcapacity. The tariffs war with the U.S. has also hurt the economy and taking stakes in private companies is way to ensure business stability for China. Its an effort to keep employment stable in the private sector that has 60% of the jobs. Zhejiang Great Southeast Company is a plastics packaging company with founder Huang selling his entire 29.5% stake in the company to state owned Zhuji Water Group Co for $168 million. He did this to repay holding company loans for which he pledged two thirds of Zhejiang Company shares. Beijing stepped in to ensure there is no sharp rise in unemployment. In the first 6 months of 2019 Beijing took 47 such stakes, according to Fitch Ratings, with 52 stakes taken for all of 2018.  The purchase of stakes includes state run companies and investment vehicles of local governments. Even this does not reflect the whole effort of China to ensure no sharp increase in unemployment. From October 2018 local authorities and state linked entities put together about $100 billion of "relief funds" very quickly, estimates from TF Securities. These funds are for passive investments, state owned enterprises normally take on a hands-on role in running the companies. Oxford Economics estimate is that China's private sector provides about 60% of all urban jobs in 2017, increasing from 36% in 2010. Researchers say China stepped in in this way after failing to get banks to lend more to the private sector. The tight supervision to reduce risk of supervisory agencies has made it harder for private companies to get loans. Shadow banking and trust loans was an early target, and stock market selloff hurt entrepreneurs who used shares as collateral for loans. ...
WSJ Original article ›
LyrArc Article Gist
After the 2008 election of president Obama rural whites left the Democratic Party, Following the election of president Trump educated suburbanites left the Republican Party. These two trends have accelerated as seen in the 2018 U.S. Congressional elections. Democrats won in and around major cities, and Republicans won in rural and small town America. Democrats won 27 GOP Republican COngressional seats to win the majority. Republicans added 2 seats to their Senate majority.  The electorate is sharply divided in terms of education in a way that is regressive and not good for America, and in a way that has never happened before. Republicans share of of House districts with lowest shares of college education bachelors degrees increased from 44% in 1998 to 60% in 2018. Democrats share of House districts with the highest share of Bachelors degrees went up from 50% in 1998 to 81% in 2018. Much of the Democrats support from educated suburbanites comes from lopsided support from educated women. The result is that the Republican Party is trading faster growing counties for slower growing smaller counties and now has a base of older voters. The Democrats have to find a leader who can rally support from this new combination of educated suburbanites, younger voters, and minorities. And big issues are at stake. About 77% of people in recent polls now support a national health care insurance like than in the UK and Canada. Poor reading skills and reading comprehension in school tests show a need for greater investment  in education. Infrastructure investment is a big priority for a decade that has yet to be tackled directly. Of the 50 new Democrats in the House of Representatives 24 campaigned on a promise for a national health insurance like that in Canada or UK. The focus on economic issues would move the Democratic Party back to where it was in all the post war years till the distractions from cultural issues  in the last decade shifted its focus from its historical base support of working class voters. ...

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