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Zero covid lockdowns have added to the sentiment seeing China as a less attractive location for foreign investment. American companies are seeing staff resign due the lockdowns and zero covid policy. About a fourth of companies in a US Chamber of Commerce survey see a 20% drop in sales in 2022. A similar situation is being seen for European companies in China. The other area of growth from property sector is not working anymore as there is a 59% drop in demand for new property units. Investors in the property sector fear  another situation like that of property developer Evergrande's collapse.  Similar to Japan by 2000 a lot of the government infrastructure for roads and rail and automobiles has already been built leaving less room for this sector to kick in. Investments are possible in AI, renewables, electric cars, and advanced technologies, with limited potential to tackle loss of jobs in other sectors such as construction and government financed infrastructure spending and in retail stores. Retail sales are hit by inflation and high gas prices. The result is that China's GDP may fall by 1% according to one estimate for this quarter from the previous year. For growth and foreign investment look to India where a surge in government financed infrastructure in construction of roads and rapid transit, fast rail, construction of housing, and rapid increase in use of mobile phones, automobiles, and appliances is taking place. A new logistics system is being built with a Master plan for the whole economy under Gati Shakti creating a whole new place for foreign investment in a country of 1.3 billion. With Indonesia and Bangladesh closely related to India this is a market of 1.8 billion people far surpassing China and built on values of democracy ingrained over 100 years since the experiments under the British of elected state assemblies. This happened under limited Hind Swaraj since 1930's when India was led by Mohandas Gandhi in these early experiments with democracy. Germany, France and the US have a lot in common with India and the ground is being prepared with improvements for extensive German, US foreign investment by the Modi administration.  ...

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Mr. Erdogan is reelected in the second round of voting with 52.1% of the vote. Mr Kilicdaroglu got 47.9% of the vote with almost all the votes counted. The four percent margin also reflect the use of all state powers by Mr. Erdogan in the election. Overall it could be said that the vote was a close one after an earthquake and 40% inflation in Turkey. Mr. Erdogan efforts to run for another term is not limited by limits in terms a president can serve in Turkey. By the time he finishes another term in office he will have been in power for over 25 years. He faces difficult conditions for the Turkish economy which badly needs foreign investment. The mayors of Istanbul and Ankara the two main cities in Turkey are from the Opposition Republican party of Mustafa Kemal who founded the modern Turkey we know today in 1923 with the victory over the Entente western powers and Greece ratified by the Treaty of Lausanne. The future looks to be set by one of these two leaders as change is likely so that it has a chance to live up to the aspirations that surrounded its founding in 1919-1923. The transformation of a society at the dividing line between Europe and Asia into a modern state with the best that Europe had to offer from 1923 to 1938 including a new language that would promote the literacy of its people. Mustafa Kemal stated clearly in a speech at Nutuk in 1923 that lasted for several days the process that he had to trust would create a modern state that would compare with the best in Europe- the Turkish people and the National Assembly of the people of Anatolia and Rumelia. Mustafa Kemal did not see the six centuries of Ottoman rule as an example for Turkey in what Ismet who led the struggle for independence on the Greek front and as leading negotiator at Lausanne in 1923 called stemming from "the fire of his soul." Of Kemal it could truly be said he fought for the four momentous years 1919 to 1923 both the Entente Powers as well as the remaining elements of six centuries of Ottoman rule. ...

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The NYT's look at the televised debate between Macron and Le Pen for the presidential election. Macron has this to say in closing about Le Pen's shelving her plans for exit from the European Union compared to her position in the last election. "It's a project that doesn't say its name but entails leaving the European Union. I'm not lying about the goods, you are lying about the goods." Macron says Le Pen is being disingenuous about this, arguing that by reducing French contributions to the Eu budget and by ignoring fundamental rules of the EU such as freedom of movement and the single market, that would lead to a de facto exit from the European Union for France. Lyrarc has shown today on this page how the debate was covered in FR24, DW.com, The Guardian, BBC News, WSJ, and NYT. One of the key questions is what would she or some other candidate such as Mr. Melenchon done differently than Mr. Macron- For the once in a century pandemic? Macron is not faulted by any one for the work done by two prime ministers he appointed for the task. What would she or some other candidate done differently for today's surging inflation, considering that it is happening worldwide? Are their aspects of France's welfare state, and her economy and the currency that are better protected under the European Union than in a situation of de facto exit. The absolute power in the French presidency is something that happened after a weak system of prime ministers and coalition governments in the period between the two wars, and that power used wisely enabled De Gaulle to take decisive steps  over a decade for France in the post war modernization of France. This was a problem for Melenchon with his calls for a new Republic and a new constitution. Yet many of todays problems of decaying communities and once prosperous industrial towns in decay in the north, northeast and the south require a next generation industrial revolution to bring manufacturing back to France and back to the European Union, and large scale investment in France, as is happening today in the US which is confronting the same problem.    ...

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The Goethe Institut is for Germany what the British Council was for Britain and the USIS for the US in the countries of Africa, Asia and Latin America as well as Europe. A way to interface the world with ideas that contribute to world culture from Germany, and both influence and grow from the interaction. This is how Carola Lentz its new head in 2020 sees the Geothe-Institut on its 70th anniversary. There are 158 Goethe Instituts in 98 countries. The picture that goes with this article in DW.com shows language students from Ghana on the streets of Burnau, Bavaria, with their host family. It started in 1951 in Munich to spread German language and cultural studies in the world. Pope Francis studied German in his early years at the Goethe Institut while staying with a host family in Boppard, Rhineland-Palatinate, when he came to Germany from Argentina. Carola Letz brings an interesting background to this work as a researcher on societies in Africa, and her study of sociology, politics and languages. She believes the true work is to build conversations with other countries and to engage people inside Germany into this conversation for the first time, a task never undertaken before by the USIS or the British Council. As has happened accidentally and also with the sense of "'arrogance" in the US and Europe towards other less industrially developed countries, people inside European and North American countries were far less equipped with knowledge and understanding of world societies than their representatives overseas in post war period.  Lentz, born 1954. who lives in Mainz near Cologne, the home of Goethe, is an ethnologist and African Studies expert. Lentz sees a new approach of conversations with people in other societies, about an approach that is considerate, not arrogant, for developing joint answers to global questions.  A new exhibit opens on the 70th anniversary at the Berlin museum Hamburger Barnhof- "Take Me to the River," on global environmental changes on November 29, alongside another exhibit "Nation, Narration, Narcosis," on the role of museums in the culture of remembrance. This brings Germans inside the country into this conversation for the first time along with  the thousands of visitors from other countries.     ...

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This is an highly important interview by the BBC with U.S. Trade Representative Robert Lighthizer. We have followed the path breaking work of Mr. Lighthizer at Lyrarc.com over 10 years, and have great respect for his effort on behalf of the American people and American workers. Here are some of the remarks he made at the end of the term of the Trump administration. Lighthizer says the objective of trade is not just efficiency, it must be working men and women. This is the shift that Mr. Trump has made. It will be a lasting change as leaders in both parties see this as important, says Lighthizer. There are companies that immediately want to go back to the way things were but Lighthizer says members of both parties will prevent this. This will be a lasting change. Democrats in particular could soon face strident criticism that they have let down the working class from within their party, increasing the risks of the party to represent large parts of the American population. Lighthizer says its not accurate that we started a lot of trade wars, we have simply enforced our laws and insisted on fairness for American workers. There was really no trade war in the improved NAFTA deal in the interests of American workers, which also enhanced worker protections in Mexico, for a win-win on both sides of two neighbors. "We want strong communities in the U.S. and if that means T-shirts will cost another nickel, they will cost another nickel," sums up the way Lighthizer sees it, and the way all of America would see it if one regained the idea of government for the people, of the people and with the people. "We are proud of what we have done to reorient American trade towards working people in the U.S. and less towards outsourcing and corporations," says Lighthizer. And he says that was important to do. Lighthizer only highly underestimates what he has done for America and American workers.  A lot remains to be done. The about $800 billion in overall trade deficit the U.S. has with China, Germany and the rest of the world is not sustainable, he says. The job only gets harder now that the direction is clear.    ...

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Textualism or strict interpretation of the Constitution word for word may be back but one can never be sure. No sooner is one decision made in a certain direction with a particular approach to the law whether it be textualism or something else it then comes up for rethinking a few years later, under a different approach to the law or from a new angle. This is the law practiced in most British style courts of law including the US.  Former Justice Breyer of the US Supreme Court replaced by his law clerk Ketanji Jackson, is interviewed by NYT's Adam Liptak. Today so much is written about Breyer as a non textualist, and Gorsuch, Kavanaugh recent additions to the Court as textualist or strict interpreters of the Constitution based on when it was written with what intent. Yet as thinking individuals who like the rest of the American people grow in their understanding all Justices cannot be categorized  in this way. Breyer says he worked with retired Justices Kennedy and Souter and found them to be willing and keen on hearing all angles. Then it has to be said that both Kavanaugh and Gorsuch were law clerks for Kennedy. Much of American law at the highest court actually is no better than any other human creation - it tries to approximate as best one can the people of the US. Sotomayor coming from Puerto Rican descent, Ketanji Jackson from minority black, Kavanaugh and Gorsuch from Georgetown preparatory schools where Kavanaugh's paternal grandfather attended Yale something even JFK could not claim, Chief Justice Roberts coming from a company professional type background, Barrett a professor at a Catholic university, Kagan with a Bostonian JFK style background, Alito old Italian and Clarence old minority black background. Breyer retired recently to make way for a younger judge, Judge Ketanji Jackson who was law clerk to Breyer. Breyer is writing a new book which he hopes the conservatives on the Supreme Court will read- Justices Kavanaugh, Barrett and Gorsuch. The book coming out March 26 has the title- Reading the Constitution- Why I Chose Pragmatism not Textualism. He hope these Justices will read the book and say their colleague was making sense, would say that it was not a bad point. ...

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The battle of Dien Bien Phu has another significance as looking back it was not the cold war conflict with the soviets but a struggle for freedom and independence from French colonial rule. The conflict cast a shadow over the Kennedy administration, and after John Kennedy lost his life in Dallas, led to a loss of Kennedy's vision of the New Frontier, ideas that were lost for 4 decades of mediocre or inexperienced leaders from Nixon to Clinton, Bush and Obama and Trump that embroiled America in distant wars and wasted resources needed at home for infrastructure and needs of the people. FR24 looks back at the Battle of Dien Bien Phu 1954, that gave Vietnam freedom from colonial rule and independence. The French ended their rule and Vietnam was divided into 2 states. The US was drawn into the struggle by support and advisers to the new government in the South. Just 6 months after Dien Bien Phu the French were faced with another conflict with the Algerian war of independence that went on till 1962. In the South Vietnam situation it happened in the backdrop of the struggle of the US with the Soviet Union and the People's Republic founded by Mao in 1949, called the Cold War. In 1956 Soviet tanks rolled into Budapest to crush the Hungarian revolution. It is in this context that president Kennedy was pulled into the conflict of North and South Vietnam. Would Kennedy in a second term have handled it differently than Lyndon Johnson who with the Tonkin resolution had America drawn into the conflict left behind by the colonial French power. It is possible Kennedy would have handled it by consulting Congress and the people and looked for solutions outside Cold War conflict. The result and the end of Kennedy's term led to the vision of the New Frontier and Kennedy's imaginative leadership being forgotten with a series of mediocre presidents Nixon, Carter, Reagan, Clinton, Bush, Obama and Trump for three decades leaving America into expanded wars in Cambodia, Star Wars competition wit the Soviets, Iraq, Afghanistan and wasted America's resources, neglecting its infrastructure and needs of its people in health and education. ...

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Yaroslav Trofimov gives his reflections on what the war means for Russia in this Essay in WSJ, and the sense within Russia that the war itself was a mistake. A result of miscalculations and a result that leaves Russia in no way better than it was in 2021 before the conflict. Hard won economic gains achieved by Mr. Putin during the last two decades have in fact been compromised by the conflict. No discussion has even been done on the transition away from fossil fuels that have been accelerated by the conflict. This is particularly relevant for Russia where the question of redundant fossil fuel assets during the rapid transition to renewable energy is a problem that needs to be tackled. The Ukraine diversion in this way affects the Russian economy and acts as a distraction from important economic goals. Global public opinion is also affected in ways that do not look favorable for Russia the longer the war goes on particularly the effect on food insecurity in poor countries, and energy security in Europe for poor households, the senseless destruction of infrastructure in Ukraine and millions of women and children displaced, all creating a sense of overwhelming moral failure. Mr. Modi of India is reported by FR24 to have told Mr. Putin at a meeting on September 15 that "this is no time for war." This is shown on today's pages in Lyrarc. How could it be a time for war when the pandemic has taken lives of over 1 million people in the US, over 2 million in Europe, millions in Asia, Latin America and Africa, and the world is only now coming out of it. The competition is not between countries for major power status but between countries on achieving better lives for its people, stronger economies, and better job, health, infrastructure and services to ordinary people, tackling problems on a common basis such as climate change. In most situations even the advanced countries of North America and Europe are facing the same problems faced by middle income countries such as China,Russia, and developing countries such as India- how to combine market economy with State participation in the economy and government ensuring fairness to all, better distribution of incomes and wealth, ensuring that there is a level playing field for all and opportunities for all. ...

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Justice Khanwilkar of the Indian Supreme Court (2016-2022) is appointed the second Lokpal of India. He wrote some of the key decisions of the court in recent years. As Lokpal he is head of the Anti-Corruption Authority of India, that was established in 2013 after the protests against widespread corruption and leakage of funds led by Anna Hazare of Maharashtra that led to loss of confidence in the government of that year. Justice Khanwilkar supported the strict provisions of the Prevention of Money Laudering Act (PMLA) that provide the essentials for a developing country to ensure good governance and prevent the leakage of funds that are destructive for improving the ease of living, and for the confidence of the people in the government. He also decriminalised homosexuality, and upheld the Gujarat government for handling of events in 2002. He was alsopart of the 5 Judge SC bench that upheld Aadhar documentation of every citizen of India that made it possible under Digital India to deposit money directly to bank accounts preventing leakage of funds going to hundreds of millions of needy Indians. This was key to supporting families across India during the pandemic. In 2020 he passed a ruling on regulating the NGO's in India and use of foreign funding, the Foreign Contribution Regulation Amendment Act (FCRA), which ensures the government of a developing country of over 1 billion people can be run by the will of the people for the people, free from interference by foreign ideologies and interests. He tackled a key environmental case in 1996 when surrounding tanneries were polluting the river Ganges. The range of Khanwilkar's decisions is as prolific as it is critical for shaping a modern nation of 1.4 billion people. He served as the Standing Counsel of the Election Commission of India aiding in the operation of EC that is crucial for Indian election process.. He wrote 226 judgements and sat on 817 benches, a hardworking and disciplined judge that is a reflection of the best of India from the period of Indian renewal under Vivekananda and Gandhi to this day. Khanwilkar started his career in 1982, representing the state of Maharashtra as Standing Counsel at the Supreme Court, and was later Chief Justice of Himachal Pradesh, Chief Justice of Madhya Pradesh. ...

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Isaacson's new book on Musk says Musk's story is a cautionary tale. The compulsion to be drama magnet or mean are not prized traits, say others.  More sinister (the hell) is celebrating a culture that does not respect the need for worklife balance, of respect for nutrition and exercize for good health. Musk's methods which he calls "algorithm", a word known more for obscurity than meaning, are nothing new. For years as the US, Japan and China, now India have innovated there is a focus on simplifying things, and to do this questioning the existing way of doing things by breaking down the existing method into pieces and reorganizing the pieces of the puzzle leaving out unneeded pieces. What is the key to his success as it was for Jobs at Apple is creating a culture in which people would invest in and take risks for innovation at the high end of the price spectrum. Jobs used design and new stuff like the iPod and iPad, iPhone to do this. Musk does this through playing the role of a social media icon but a dangerous one that does not respect worklife balance and good health habits of nutrition, exercize and mindfulness. In processes this can give you a process that takes less time and money- how India's moon mission and rover Chandrayan 3 was done for $78 million showing these work practices of Musk are nothing new, and universally adopted by successful companies and nations. Newer ask your employees to do what you would not do, is also adopted by the best managers. By turning it into a mantra it obscures the fact that America today is a country of massive inequalities where two thirds of 4th graders cannot pass ACT reading test and half of retirees have zero savings, working people and families face a cost of living and health crisis and are badly neglected. How does it help to role model as an icon and popularize a culture that tolerates and accepts such conditions that would leave men deeply troubled, including America's leaders Washington, Lincoln and FDR if they were alive today. ...

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The European Recovery Fund package finally gets settled after long negotiations over the weekend. It is settled by lowering the nonrepayable direct aid to countries hardest hit by the pandemic of 500 billion euros the initial target to 390 billion euros. The change was made to meet Dutch demands that are based on right wing parties in Netherlands critical of the deal and upcoming elections in the country. Mr. Rutte of the Netherlands held on to the end. He has been in power for about ten years by following the Dutch mood carefully. This time both Merkel and Macron, both France and Germany supported the 500 billion euro plan for nonrepayable aid to countries particularly in southern Europe that took the brunt of the pandemic- Spain, Italy and Greece. The EU's executive branch will now for first time issue debt on a large scale to fund this nonrepayable aid and additional loans of 360 billion euros. There is also a multiyear EU budget of 1 trillion euros for 2021 to 2027 designed to meet the goals of European recovery. The way the EU is setup a lone holdout or a small country like the Netherlands with the help of two other small countries Denmark and Sweden could hold up the agreement against the interests of the larger nations Germany, France, Italy, Spain, Portugal. Poland and Hungary also strongly supported the 500 billion euro target for nonrepayable aid. The combined population of these countries is about 314 million compared to just 17 million for Netherlands, 10 million for Sweden, and 6 million for Denmark. In addition Merkel has recovered her footing in Germany after the pandemic and most right wing parties in Europe have lost ground during the pandemic. That Mr. Rutte could push this far in the face of the need to show solidarity at a time like this shows weakness in the fabric and structure of the EU, and its rules and organizing charter. Normally a blocking minority would need 4 countries and 35% of the population to block EU proposals supported by the majority. This could be used if the blocking is seen as not in the common interest. In recent years most decision are made with unanimity, but this is one in which solidarity needed to be shown without the long negotiations taking some of the spirit and vigour behind the earlier plan. ...

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The Russian position for a ceasefire in Ukraine and peace talks is set forth by president Putin. "Our principled position is that state of Ukraine must be neutral, non aligned and free of nuclear weapons." Putin wants Ukraine to give up Donetsk, Luhansk, Kherson and Zaporizhzhia regions, Russian speaking regions in the east of Ukraine. Capitals of Kherson and Zaporizhzhia regions and some of the territory is controlled by Ukraine today. It means that Russia could accept a ceasefire under the present lines of control. It also means Ukraine would not be part of NATO, though it could be part of the European Union, as a peace settlement. All western sanctions on Russia would have to be lifted. Throughout the decade of this war Russia has maintained close connections to the Russian speaking eastern part of Ukraine with historically close ties to Russia and as Ukraine public opinion shifted to the EU Russia began its efforts to bring these regions under its control even when German-Russian relations were better during Merkel years. Russia has the support of China and Brazil in its position. At some point if a settlement is reached one possibility is that the line of actual control or LAC would be put in place. It happened in the Korean War, when the demilitarized zone was setup and in other conflicts on the Indian border with China and Pakistan, in Cyprus between Greece and Turkey. For it to happen Russia will have to dispel fears in the EU and the US that Russia will continue the conflict at some later stage till all its objectives are achieved. This requires removing the perception that Putin is set on achieving all his objectives to reopen the war at some later stage. Mr. Putin hinted at this by saying "today we are making a concrete real peace proposal," and adding that Russia was not ''talking about freezing the conflict, but its final resolution." In this situation it is the western doubt about Putin's intentions that is another barrier to a settlement on European security, with continued destruction in Ukraine when the war has entered a stalemate where both sides have exhausted their resources and have little to gain by prolonging this conflict. ...

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It has happened before- the issues and the tactics. This article is from the Washington Post March 10, 1985. The 2016, 2020, and 2024 US campaign for president most resembles the 1952 campaign between Dwight Eisenhower and Adlai Stevenson. In that campaign Senators Joseph McCarthy of Wisconsin and Senator Jenner of Indiana made unfounded statements and criticism of of candidate Adlai Stevenson, of Gen. George Marshall, of NATO and aid to war ravaged Europe under the Marshall plan, and by 1958 of Eisenhower for "ruining the party," according to the Washington Post. Edward Jenner, Senator from Indiana 1952-1958, conducted Senate hearings in which he made spectacular criticism of public figures and US policy from 1953 to 1955. Eisenhower was elected as president in 1952 and after considering running as an Independent reluctantly accepted when New York Governor Dewey asked him to do on the Republican party ticket. What is similar is that the issues and tactics used now are reminiscent of issues and tactics in those days in the 1950's, that this is not happening for the first time- it is not new. Both Senator Taft who headed the Republican party at the time and president Eisenhower felt uneasy about this type of criticism. Then as today it was about aid to Europe and NATO. Jenner said America could not afford it and it "would bankrupt America." Jenner also called the US Supreme Court "the most powerful instrument of the communist global conquest by paralysis," and introduced a bill to limit the SC jurisdiction. Jenner said in 1951 on the Senate floor, according to the Washington Post-  "the only choice is to impeach Truman," as "this country is in the hands of a secret inner coterie directed by agents of the Soviet Union." Today's differences are not new, the rhetoric familiar, about NATO, Europe funding, about the SC, about this and the former president, and about isolationism and about extended costly foreign wars, all after a pandemic and climate change in an uneasy atmosphere about the threats to American leadership then from the Soviets now from China. ...

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See Tim Walz's full speech at the Democratic National Convention in Chicago, August 21, 2024 in his video from CBS News. Lyrarc has selected excerpts from Tim Walz's speech above showing what the Trump Republican party plans to do that will gut Social Security and Medicare, and kill the Affordable Care Act, gut efforts to lower exaggerated cost of medical drugs and healthcare. This excerpt shows what Harris will do to build a better life for workers and families and people across all 51 States, in education, childcare, healthcare, cost of living, and housing costs- "We’ve got something better to offer the American people. It starts with our candidate, Kamala Harris. From her first day — as a prosecutor, as a district attorney, as an attorney general, as a United States senator, and then our vice president — she’s fought on the side of the American people. She’s taken on the predators and fraudsters. She’s taken down the transnational gangs. And she’s stood up to powerful corporate interests. She has never hesitated to reach across that aisle if it meant improving your lives. And she’s always done it with energy, with passion and with joy. Folks, we’ve got a chance to make Kamala Harris the next president of the United States. But I think we owe it to the American people to tell them exactly what she’d do as president before we ask them for their votes. So this is the part — clip and save it, and send it to your undecided relatives so they know: If you’re a middle-class family, or trying to get into the middle class, Kamala Harris is going to cut your taxes. If you’re getting squeezed by prescription drug prices, Kamala Harris is going to take on Big Pharma. If you’re hoping to buy a home, Kamala Harris is going to help make it more affordable. And no matter who you are, Kamala Harris is going to stand up and fight for your freedom to live the life that you want to lead, because that’s what we want for ourselves, and it’s what we want for our neighbors."       ...

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What a change DJT's first 100 Days and actions on immigration and tariffs , Ukraine and Russia, have made in China's and World relations in Asia, and in Europe - all for the better, significantly better relations worldwide.  China has worked out a peace settlement in Ladakh frontier with India. It has come together in Tokyo with Japanese prime minister Ishiba and China's Foreign Minister Wang Yi holding hands, and South Korea joining, all three nations vowing to remember history and work together. In Europe Russia is being brought back into the community of nations for big power cooperation with the US after 3 years of war in Ukraine. And Germany has removed its constitutional brake on spending that frees up $1 trillion in funding for infrastructure to replace much of its rail and other infrastructure built in 1900. One would not know this reading the NYT on democracy or the WSJ on tariffs or the Washington Post on assault on federal workforce, or the Atlantic, Politico, DW.com or FR24, Der Spiegel, nor Le Monde, much of the world media slanted on way or another. One does not hear about military exercises so often as the world realizes that so called large economies China, Germany, Japan and India all depend on American goodwill and willingness to give rather than take for most of the post war period since 1950. For the last 6 years in the latter half of the Trump administration and the 4 years of the Biden administration during the pandemic relations between China and the US deteriorated and China first retreated into its own then opened up a bit. The initial idea that it could manage the DJT trade actions evaporated as Biden continued the DJT first round of tariffs. Now Navarro, Lighhizer, and his deputy Jamieson are all back advising DJT for anew round of reciprocal tariffs and tariffs on Canada, Mexico and China for not stopping fentanyl flows.  In 2022 in eastern Ladakh China's PLA had a big standoff with Indian forces in eastern Ladakh at Galwan and Pangong Lake. The Quad was active with Australia India and the US in Indo Pacific and China conducted military exercises close to Taiwan.      ...

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Mexicois facing adeep recession and rising unemployment- the economy is expected to see adecline of 7% in 2009. And President Calderon though he retains apopularity rating of 70% has lost the midterm elections and the opposition party the PRI has amajority in Congress. The government is trying to raise tax revenues and support social spending. It wants to raise spending on antipoverty programme Opportunidades and achieving universal health care. The highest earners face taxes going upfrom 28% to 30%.

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Rio Tinto took on large debt of some $40 billion during the boom times, including debt taken on for the purchase of Canadian aluminium company Alcan. About $9 billion is due for refinancing this year and $10 billion in 2010. Now it is making a firesale of assets such as mines it owns. Its also turning to Chinalco, stateowned Chinese aluminium maker. For some $15 billion Chinalco would increase its ownership in Rio above 11%, and may get the 30% stake Rio has in Chile's Escondida copper mine. It will also layoff 14,000 workers.

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NewLink Genetics founded by cancer researcher Dr. Charles Link in Ames, Iowa, in 1999, is one of the few biotechs based in the midwestern U.S. NewLink went public in 2011. Genentech has invested $150 million in the company for development of cancer drugs based on immunotherapy, using the body's immune system to fight cancer.

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The auto industry downturn is hitting Ohio, Michigan and Indiana the hardest. Ohio is also hit by the faltering banking sector.

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A look at Israel at 70 by the Economist magazine shows a country that has combined early achievements of socialist governments such as free health care system and good education system with the addition of 1 million immigrants from the collapsing Soviet Union, to build a highly trained technically skilled workforce and international companies.  It says the Israeli Arabs are still poor and unable to integrate. With ultra Orthodox Jews they make up 30% of the population, and many of them who do not work. Infrastructure has suffered from lack of investment and public transport is in poor condition. About 4.5 million Palestinians in West Bank and Gaza remain a continuous source of tension with no settlement in sight. The shift of the capital to Jerusalem is recognized by the U.S. Trump administration, a win for Israel, but leaving the divisive politics of Mr. Netanyahu in place. So that with the growing economy, there are social problems and political division which need to be addressed as much as the economy. A problem left for another administration, another leader from possibly a revived Labor party and another day. ...

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Japan's cabinet approves a change in interpretation for Article 9 of the constitution to permit "collective self-defense." The wording was negotiated with the more pacifist New Komeito party in the coalition government to cover attacks on Japanese allies such as the U.S., but limit it to actions that seriously threaten Japan. Because the Liberal Democratic party of prime minister Abe controls both houses of parliament the change is likely to go through. The U.S. president Obama, Defense Secretary Hagel, and Rear Admiral John Kirby of the U.S. Navy see this as improving security and stability in the region.