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The Center for Strategic Studies in Moscow was prescient in predicting problems of declining support for Mr. Putin before the December 2011 parliamentary elections. Work with 32 focus groups by the Center in May 2012 shows a continuing erosion of support for Putin as efforts to open the political system have faded. The discontent focusses on the delivery of basic services such as healthcare, education, law enforcement, infrastructure.

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The Indian economy is expected to grow by 8.5% this year compared to 6.5% in 2009. But a major problem looms in the high inflation facing India. The poor monsoon in 2009 led to higher prices for foodgrains, lentils, and sugar. And the government's cut in the fuel subsidies will lead to more efficient use of energy, but will lead to one additional percentage point in wholesale price inflation according to the Reserve Bank of India, India's central bank. The whoesale price index in India went up by 10.5% in June from the prior year, and this after a 10.1% increase in May. Bloomberg's tracking of consumer prices in the Asia-Pacific region shows India at the top of 17 countries in inflation, and consumer prices paid by industrial and farm workers in India are shown to be increasing at 14% annually. The government is coming under criticism for not releasing more grains from its stocks to soften the impact of last year's monsoon. The Manmohan Singh government finds inflation at above 10% unacceptable and is looking for further action from the central bank. Reserve Bank of India governor Subbarao has raised rates 3 times since March 2010 to 5.5%, and a further increase is expected at its next meeting on July 27. A better harvest in September, from a better monsoon season, could help lower food prices. If this does not happen, more tightening by the central bank could hurt economic growth, putting the government in a quandary....

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The economic crisis in the Russian city of Yaroslavl, 150 miles northeast of Moscow on the Volga river. Auto sales are down 30% and the city's diesel engine making plant is down to working only 3 days aweek. Many of the other factories and plants here are laying off people and are also on 3 days a week. Cafes and bars in the city are empty and people are filling job search centers.

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Chavez wins 61% of the vote to Rosales' 38% and wins reelection for a six year term. Social goals will continue to dominate in Venezula's oil based economy. Importance of cooperatives for poorer classes. Development of a Bolivarist class of businessmen who support social goals with freedom to operate and benefit from oil resources fueled economy. Are their similiarities in a sense to pursuing welfare and equity goals to the elected government in Iran? Both are oil based economies and large producers with exploration and production issues, how do these similiarities and policy differences with the US affect oil access and prices?

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A stronger U.S. economy, gradual upswing in Europe and Japan, makes the stock market downturn in Jan. 2016 of a completely different nature than the one in 2008. Problems are seen in some emerging markets, including China. Oil price decline helps India and oil importing countries.

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Mossberg says look for 500 gigabytes of storage, 4 gigabytes of memory, an i3 to i5 or i7 Intel processor, in buying a PC or laptop. He suggests waiting till fall 2012 for the new Windows 8, and summer 2012 for the newer PC's designed to use Windows 8. This will be a big change from before, because Windows 8 is designed to use the touch feature of tablets. Ultrabooks are a bit pricier, making PC's and laptops the lower cost option. Laptop makers are trying to increase margins on the machines. Mac's also will get a newer operating system called Mountain Lion by the fall.

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As the related article in The Washington Post points out the narrative inside India relates more to the the sense that terrorism has been a persistent problem for India and the public's sense that action was needed. Most of the issues in South Asia relate to development, roads, dams, bridges, airports and housing that need to be built, healthcare, sanitation and education on a massive scale. This is an area where India can show the way forward for South Asia, and be the real test for Mr. Modi after the many projects that he has initiated in India in the first term. It is only ordinary Indians, Pakistanis, Bangladeshis, Sri Lankans, and other people in South Asia that are paying the price for neglect of development and infrastructure as China, South Korea and other nations have forged ahead. A focus on development is the right sphere for competition both for Mr. Modi and for people in the region.

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Nokia struggles with loss of sales and market share in the low end of the market as Asian competitors bring in better phones at low price points in emerging markets. At the same time its launch of the Lumia 900 smartphones using Microsoft's software is facing headwinds competing with established competitors such as the Apple's iPhone and the Android phones which have more apps.