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

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The Indian Express Original article ›
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PM Modi's win in Maharashtra, India's second largest state, and commercial center Mumbai with Ahmedabad, puts Vikshit Bharat plan to modernize India like China and Japan, on a firm footing. Some observers such as this one were of the view that the Chief Minister during Covid had done a good job, and that splitting his party with defections was not the right thing to do. Yet this view does not look at the infrastructure needs of the state and the nation which require effective government and government that can concentrate on delivery. It overlooks India's need to do what China and Japan have done to modernize their country in the last century. Vikshit Bharat is real, it is within reach, and Maharashtra senses this like the rest of the Indian nation. It is similar to Bumrah like Modi telling the Indian team that it had prepared well, now one should trust the process- which leads to Vikshit Bharat modernizing the nation - and give one's best. This led to Jasprit Bumrah taking the Indian team to a 297 run win over Australia at Perth after losing 3 Tests in New Zealand. A 14% vote margin for the NDA alliance called Mahayuti that is PM Modi's effort in Maharashtra, one of India's largest states which includes the city of Mumbai. This report says waves such as 2019 or ones in which Rajiv Gandhi won in 1985 were felt on the ground. This one was not anticipated. Yadav says in just 5 months after PM Modi's party lost in the Maharashtra Lok Sabha elections by 1-2% the shift is 15-16%. He says there is an additional 5 % deficit when a party contests a state election after a national election, widening the vote margin to 20 percent.  Of this he says the welfare schemes for women account for only 2-3%. The rest he can't understand.     ...
BBC News Original article ›
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India agrees to an immediate ceasefire after a call from Pakistan's head of military operations for a ceasefire. The conflict started with attack on tourism that was reviving the Kashmir economy after three decades through a terrorist attack killing 26 tourists in Phalgam, Kashmir on  April 22, 2025 in the mountains near the Pir Panjal range. 24 million tourists visited Kashmir in 2024. Indian response was swift on May 7 early morning hours attacking 18 terrorist camps inside Pakistan occupied Kashmir and inside Pakistan. India called it a act of self-defense to Pakistan sponsored state terrorism going back to 1947. What is different in this brief 4 day war is that India made it economic with efforts at IMF to make terrorism an issue for loans to Pakistan, and ending the Indus Waters Treaty on water sharing. Pakistan economy is struggling with no debt relief from China, making it turn to the IMF, a politically split population with Opposition leader Imran Khan in jail, and continued domination by the military over civilian govenrment. On May 9 drone attacks were launched from Pakistan using Turkish made drones in large numbers on cities and towns in Gujarat, Rajasthan, Punjab. Blackouts were placed in India by May 8 in all cities in the north and in Pakistan. India responded with its own drones and missile attacks on three military airbases as the war broadened to military targets on May 10. US mediated a ceasefire through Saudis and Turkey. Earlier Saudis and Iran were in New Delhi with whom India has good relations to get a ceasefire. Mr. Trump's efforts behind the scenes secured an agreement. VP Vance had cut short an Indian trip in Jaipur on April 22. India and the US are allies in the Indo-Pacific, and India and Russia have decades of friendly relations. China now uses Pakistan as a proxy state, but does not provide the economic aid it needs, for which it has turned to the IMF.    ...
Wall Street Journal Original article ›
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Vietnam devalued its currency by 8.5% on Feb 11, 2011. A series of devaluations have reduced the value of Vietnam's currency by 20%. The devaluation will lead to higher cost for imported products, especially refined oil products, thus fueling inflation that is already high in developing countries. The Communist party central committee is not giving inflation fighting a priority, and instead is focussed on keeping high growth rates. The party's inflation target is 7% annually, same as 2010 for 2011, when the inflation is already estimated to be about 11% for 2010. Barclay's now expects inflation to reach 13.5% by March and exceed 15% by June. Part of the hesitation to raise interest rates and slow inflation as is happening in China and other developing countries, is the need to create new jobs for a young and increasing workforce. Vietnam's inefficient state enterprises, poor management at some enterprises, and state subsidized lending, have created problems which are putting downward pressure on the currency. State owned shipbuilder Vinashin approached bankruptcy recently with $4.4 billion in debts and poor management decisions. Another significant reason for the devaluation is the seriously precarious situation of Vietnam's foreign exchange reserves. State media have reported that Vietnam's international reserves have fallen to "more than $10 billion" at the end of 2010, compared to $16 billon for 2009 and $26 billion for 2008. This suggests a deeper crisis from years of loose monetary policy and lending to state enterprises to create China type growth rates. Vietnam still a less developed country and not equipped to handle this kind of growth, say analysts....
Wall Street Journal Original article ›
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During the presidential debates Donald Trump was asked about his proposal for a 45% tariff on imports from China to the U.S.. Trump's response was "if they don't behave." he would use this as a negotiating tactic against China. Senator Ted Cruz of Texas responded by reminding viewers of the high tariffs under Smoot-Hawley legislation that were one of the factors that created the Great Depression in the 1930's. Economist and former Federal Reserve chairman Bernanke is a student of the Great Depression, and says "it was highly counterproductive, it lengthened and deepened the Great Depression." Economist Peter Petri of Brandeis University in his study cited in this article, says that the tit for tat that starts with such a move could eventually cost the U.S. 1 million jobs. It might fix one problem the one of imbalanced trade with China his figures show, and create another huge problem the loss of markets for U.S. goods all over the world. Overall a 45% tariff would reduce U.S. merchandise imports by $383 billion and reduce U.S. merchandise exports by $658 billion, says Petri. Gordon Hanson, economist at the University of California, San Diego, who has actually shown how trade has affected different counties in the U.S., leaving some dependent on government assistance. Hanson sees this tariff as counterproductive, it makes the U.S. more self-sufficient but hurts U.S. exporters, would significantly hurt the tech boom, and reduce America's standard of living. The problem is that everybody can get into this in a tit for tat. France did this even before the Smoot Harley Act of 1938 was passed in 1930 with 60% increase in tariff on individual items, by higher tariff legislation in 1928. Close allies Canada followed quickly after Smoot Hawley increasing its tariffs, so did Great Britain. Unemployment went up significantly after 1931, worsened by weak banks and lack of support from the Federal Reserve. Trade with Mexico would come to a halt Petri shows, and the result would be more Mexicans trying to cross the border turning a relatively non existent problem of immigration in 2015 -with Mexicans preferring to remain home and net immigration dropping significantly following the 2008 financial crisis and the strict Obama policy of deporting illegal immigrants- into a real one. Trump says its just a threat, but it is likely to lead to a tit for tat response by China, then by U.S. allies, other trading partners. Consider that president Herbert Hoover opposed the Smoot Hawley bill for raising tariffs on industrial goods, and only proposed adifferent legislation reducing tariffs on industrial goods and increasing the tariffs on agricultural goods to give relief to American farmers. Politics intervened as Smoot from Utah and Hawley from Oregon, from mountain and agricultural states with a lack of understanding of how the international trading system works but as heads of two influential commmittes, the Senate Finance Committee and the House Ways and Means Committee, let politics overrride and pushed their legislation through Congress. In 1932 Smoot and Hawley were defeated for reelection, but the damage had been done, and promises of better conditions for workers and farmers never kept. A significant reason for the U.S. standard of living is that it is a leader in the global trading system. Even in 1945 and the years following the end of the war tariffs were higher in Britain and other countries. In return for this leadership the U.S. enjoys the advantages of the dollar being the main global currency, and the advantages of a world leading technological sector that has large global markets. Hanson and Autor have pointed out how imbalanced trade has hurt some counties in the U.S. This is a very real problem for workers in the manufacturing sector, as shown by elections in the midwestern states, Michigan, Ohio, Illinois and other parts of the country. The problem is compounded by the tech sector looking out for itself, the financial sector looking out for itself, and forgetting that we are all in the same boat. And that includes the Chinese who are in the same boat. China is doing a major shift in policy towards a consumer driven economy, and this needs to be accelerated for the benefit of ordinary Chinese. This makes the policy of a 45% tariff by the U.S. doubly unproductive because it hopes to add urgency to the problem of the U.S. trade deficit and manufacturing workers, but takes an approach that risks ending up damaging the global trading system by setting in motion a process that no one controls or can foresee the destination....
Wall Street Journal Original article ›
Economist Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Asiana airlies benefits from higher passenger and freight traffic between Korea and China. China and Korea traffic is about 20% of the Asiana airlines business. Asiana also has better service than its lowcost Chinese competitors to hold its sales position> Note that Korea and China have doubled the routes between them and traffic has gone up significantly.
WSJ Original article ›
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China's central bank says it will stay with normal policy as long as possible and not lower interest rates. The strong stimulus following the 2008 financial crisis led to debt expansion problems in the Chinese economy. This time China is cautious about monetary and fiscal steps even as the economy is slowing with the tariffs imposed on Chinese products by the U.S.

New York Times Original article ›
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Vannis Varoufakis, Greece's feisty finance minister in the debt negotiations with the IMF and the EU, dispels the notion that the Argentina default is an example for Greece to follow, both in his blog and talking to James Stewart of the NYT. He says in his blog, that this is "profoundly wrong." Greece's economy is dependent on the euro, its banks and private sector borrowings tied to the euro, and going back to the drachma would be harder than Argentina removing the peg to the dollar and devaluing sharply in 2001. Even then half of the purchasing power was gone in conversion from dollar denominated deposits to pesos. In December 2001 Argentina defaulted on $93 billion in debt, sharply devalued the peso, resulting in a economic depression, riots and demonstrations. The economy stabilized in 2002, and paid back debt owed to the IMF by 2006, only because of export demand for Argentina's main products of soya beans, and corn, soya oil with high demand from China and Brazil. Greece's exports of cotton and fish cannot provide the basis for such a recovery, says Varoufakis. Arturo Porzecanski at American University, and Daniel Gros, Director of the Center for European Policy Studies have written 2 separate papers on Greece following the Argentine example, and agree with this conclusion....
BBC News Original article ›
The Times Original article ›
LyrArc Article Gist
It took this long to do what would be done at the outset years ago- setup teen accounts that are private for Instagram. There is a warning in this that only thoughtful regulatory oversight at the beginning would prevent harm to parents and children. At this point the action does not address what only regulatory oversight by the government based on common sense about the interests of the people in education, mental health and children's education, can provide. This is to do what is done in China and other parts of the world where there are limits in ages, hours of use and what time it is turned off for young people. 

This is happening also when Australia and now Britain is removing social media from children which is the only policy that will make it possible to restore the health and educational level of young people after so much damage has been done.

WSJ Original article ›
LyrArc Article Gist
This leading investment bank G. Sachs Jan Hatzius forecast for the US economy is for inflation to go down further from 2.8% in December 2025 to 2.4%. The forecast is at 2.5% growth for 2025 for US economy under a DJT administration including impact of tariffs on China imports of 20%, selective tariffs on EU imports, not an additional 10% tariff across the board.

Net Immigration is forecast at 750,000. This is lower than what it was in the last 4 years with it's surges in some years. The remigration deportation plan will have some impact on growth yet the growth forecast will not be affected to a large extent. Strong real disposable income growth of 3.3% and the wealth and income effect will support spending growth in 2025, says this forecast by G. Sachs investment bank's Jan Hatzius.

WSJ Original article ›
LyrArc Article Gist
The story of Zhang Yiming of TikTok. He founded the App in 2012 in Beijing. His first app was Jinri Toutiao, translates to Today's Headlines. And came up with the idea of feeding people more of what they have read. This is the beginning of how today's echo effects of the news people read and opinions that are shaped in the process being one sided without any dialogue or mixing with others. This is not good for demcoracy and the dumbing down in social media adds to the lack of literacy. In the case of this China based app it means 170 million Americans are spending time in ways that deplete not add to cultural literacy. Some of the same arguments operate for social media as X and other social media divide rather than bring people to exchange views and thinking for better understanding and education.

The Guardian Original article ›
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China's strategy for climate change action makes allowance for the need for coal as base energy, and insurance to prevent factory shutdowns from shortfalls of hydroelectric energy in drought seasons. It planned 80GW in 2024 for new coal powered plant construction. 

What should the US do? DJT and Republicans including North Dakota Governor Borghum say the US should also make some room for this in transition policy. DJT calls it "drill baby drill." Yet it is more nuanced than that, it means US will produce natural gas to supply Europe and keep gas and electricity prices down as a cost of living action. DJT knows industry has already put in plans for renewable energy production, it just won't be accelerated in ways that won't let the US economy grow. This is the rational for Alaska oil and gas and rare minerals policies shown alongside this article.

BBC News Original article ›
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Rep Jodey Arrington of Texas on Liberation Day Tariffs-

"It just seems to me that it's un-American to not fight for our American manufacturers, producers and workers to simply have an even playing field." 

On the other side of the Atlantic the British press does not like America. Here is one report from the BBC News shown as Analysis by the BBC News.

It says Xi and the six other members of the Politburo Standing Committee were out planting trees to prevent deforestation while DJT was announcing big tariffs. And BBC News report Live goes on to say that the picture of Xi planting tress gives out the vibe that - go on America "this is China, we are not interested in your crap."  

NYTimes.com Original article ›
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Already Japan, Vietnam and Taiwan are negotiating. India will join South Korea. Britain will follow. Only Canada and China are holding back because of the imbalance in trade heavily in their favor and a failure to see that it is about fairness. In the EU only Germany has a surplus many nations have a deficit, it seeks to start negotiating at the first opportunity. Contrary to what most of the American and British media says Lighhizer and Jamieson have thought this thing through for many years before arriving at the Tariffs advice they gave the US president as his 2 USTR. It is these two not the president acting on his own whim as the media like to show. And Lighthizer has done this before- as Deputy USTR in the 1980 with Japan on the opposite side and come out of it with winning solutions for the US and for the world.

BBC News Original article ›
LyrArc Article Gist
A list of Tariffs by Nation are shown here in the BBC. DJT held out a chart showing these tariffs in the Rose Garden on Liberation Day, April 2, 2025. These are half reciprocal tariffs says DJT, only half each country charges as tariffs on US products including manipulating currency and non tariff barriers, the US he says is being "kind."  Top of the list in tariffs were- China  34%  European Union 20% Vietnam   46% Japan    24% South Korea 25% India     26% Taiwan 32% Britain    10% Brazil      10% Turkey     10% Argentina  10% ...
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Private companies such as Reliance Power and Tata Power control only 27% of India's power generating capacity of 205 gigwatts. The government controls most of the capacity in this sector for generation and transmission of power and has failed to invest enough to keep up with growing needs. The government has failed to achieve even modest expansion goals for power generation. A target of 78.7 gigawatts of additions to the national grid were planned for the five year period ending March 31, 2012, but only 70% of that target has been met. China during the same five year period added 418 gigawatts. State utilities sell power at discounted rates resulting in large losses, making it difficult to invest in upgrades in transmission technology and facilities. Rate regulations make it unattractive for private investors. Another problem is the shortage of coal, with coal production concentrated in one state owned firm Coal India that has failed to invest in new technology and improvements. The result is the kind of massive outages from overload of the national power grid in July 2012, affecting most of northern and eastern India....
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
European stock markets outperformed the DJIA and the S&P 500 in the U.S. in 2015. Stoxx Europe 600 went up by 7.3%, France's CAC 40 up 9.5%, Germany's DAX up 6.9% excluding dividends. In the early part of the year the DAX went up 20% before being affected by the worries over China and the VW emissions scandal. Italy's FTSE MIB up 13%. Britain's FTSE down 4.45% in 2015 being affected by declines in commodity producers. Experts still see 2016 as a good year for European stock markets, as conditions remain much the same as in 2015 with support from the European Central Bank and eurozone economic recovery in southern Europe.
New York Times Original article ›
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Sanger and Broad offer an assessment of progress in controlling nuclear proliferation and improving security during the two terms of U.S. president Obama. Obama took particular interest in this field as Senator. Today countries such as Belgium, Pakistan, are considered sources of potential problems in nuclear security. Urban security for nuclear materials is a priority. Japan, China, Pakistan and India have not reduced their nuclear materials stockpiles in Asia, and Russia refused to participate in the Nuclear Summit in 2016, led by the U.S. Problems are urgent to secure nuclear materials from terrorists and require high priority from world leaders. Pakistan has moved towards smaller tactical nuclear weapons which creates additional problems of security.
Wall Street Journal Original article ›
LyrArc Article Gist
Reliance Power's total capacity is expected to reach 5000 megawatts by Dec. 2012. The company plans to install total capacity of 35,000 MW. It is building a 3,960 MW thermal project at Tilaiya in Jharkhand state, eastern India. Another plant of the same capacity is being built at Chitrangi in Madhya Pradesh, central India. About 75% of the funding will be through debt. Relince is in talks with U.S. and Chinese banks to fund the $8.35 billion for these 2 projects. Loans agreements are in place for $5 billion from the Export-Import Bank in the U.S. and $12 billion from Chinese banks, funding that is coming as part of buying equipment from the U.S. and China.
Wall Street Journal Original article ›
LyrArc Article Gist
Moodys Analytics forecasts U.S. unemployment at above 7% at the end of 2013. Part of the reason is the aging population effect and older people dropping out of the workforce, and another reason being businesses have to hire to grow as labor costs have already been cut sharply during the lack of hiring in 2009-2011. The problems in housing with foreclosures, the U.S. deficit, and the eurozone economic crisis will continue to affect the U.S. No mention is made of the effects of a slowdown in China and other emerging markets in addition to the slowdown in the eurozone, as these risks appear to be contained for the timebeing according to Moodys Analytics.

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