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U.S. Secretary of State Hillary Clinton, says Russia's entry into the World Trade Organization in the summer of 2012 will be good for the global economy and for the U.S. It will increase U.S. exports to Russia from the low level of 1% of U.S. global exports. It will also set the right tone for improving U.S.-Russia relations and improving cooperation on global issues. She calls for Congress to change the Jackson-Vanik amendment and setting up normal trading relations between the U.S. and Russia. It is a smart investment in trade with Russia,and also a way to help Russia diversify its economy, setup an open political system and put its world trading relationships on a more transparent basis with clear tariff rates.

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Kraft reaches an agreement to acquire Cadbury at 830 British pence per share in a meeting between Ms. Rosenfeld, Kraft CEO, and Cadbury CEO, Mr. Carr. This is about 50% premium over the price of Cadbury shares in Sept, 2009. Cadbury CEO Carr was opposed to the merger of the two companies and stated he saw "no strategic, operational, managerial or financial reason" for the two companies to merge. Cadbury described the Kraft management as one that had unattractive categories and which "under-delivers." In the end Carr was pushed into the deal because hedge funds had acquired about 30% of Cadbury shares in hopes of making gains, creating the danger that Cadbury could end up with a lower offer. The acrimony is likely to make a merger of the two companies difficult and costly. Kraft coveted Cadbury for its penetration of emerging markets, but lacks the experience and talent in this area of its own to carry out a smooth merger of vastly different companies with different focus.

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Heavy foreign borrowings from Qatar, UAE, Saudi Arabia, help sustain the Turkish economy in 2022. Private companies reduce their non lira borrowings after dollar borrowings became unsustainable. Inflation reaching a high of 80% is likely to ease in 2023 to 20% in line with global inflation in other countries. Turkey's current account deficit is about 0.3 billion in November, down from 2.9 billion the prior month as global energy prices decline. The dollar is coming down from its peak and central banks are expected to bring rates down with slowing inflation. The net international reserves have reached $23 billion. A 60% drop in the currency has increased tourism revenues. Mr. Erdogan is likely to run again for president in 2023, which will be his last run for the presidency. 

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WikiLeaks provided documents of the war in Afghanistan( from the front lines), for a six year period 2004-2009. The documents show the Afghan insurgents getting stronger each year.

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The European Union's trade relations with China, and the trade and industry relationship between Germany and China built during the Merkel years is a part of the overall trade setup of the Free World that is likely to be questioned by Habeck, Baerbock of the Greens and chancellor Scholz after Mr. Biden's launch of the IPEF economic alliance for Asia. During her period in office Merkel also built the German trade relationship with Russia leading to Germany being dependent on Russia for 51% of its oil and natural gas supplies. The German dependence on Russia for energy is now being reversed by the efforts of Economy Minister Habeck of the Greens party in the Scholz coalition. The supply chain renewal and redesign by president Biden is likely to be followed by Germany and France and the EU. With it more investments will be shifted back to the US and the EU and allies in Asia such as India that offer a large pool of well trained workers similar to China's. In this sense the IPEF arrangement will be repeated in European Union's new relationships with Asia under the Greens SPD German coalition's leadership. ...

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Michelle Obama warns about complacency in the 2016 presidential election. She says Republicans are saying the election outcome is already predetermined to lower Democratic turnout from black people and millenial Democratic voters. In North Carolina president Obama won by one half of one percent in North Carolina in 2008 largely because of enthusiasm among black and younger voters. This enthusiasm and lack of complacency is critical said Michelle Obama to win this election, who is popular with these two groups, more than Mr. Obama and Mrs Clinton.

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All the ministers and officers in the 2025 Trump administration are shown here in the BBC.

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Silicon Valley Bank's investments in Treasury's did not appear to be risky yet these investments were in long term Treasury's that lost value when interest rates were increased by the US Federal Reserve. The market value of its assets declined leading to startups and other tech companies affected by the downturn to withdraw assets all at one time from the bank. The withdrawals amounted to about $42 billion last week leading to its collapse from running out of cash to pay depositors withdrawing their money. Unlike the bad loan problems of banks in 2008, a whole combination of such factors led to its collapse. With the collapse the FDIC will issue receivership certificates for the $155.1 billion in deposits  that were large and did not qualify for FDIC insurance.

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Peers says Amazon's strategy is flawed and the new Kindle Fire tablet will cut into Amazon's already low margins. He points to the analysis of components going into tablets by IHS iSuppli, which found materials costs alone come up to over $262. For companies making hardware such as Samsung and Sony the tablets have to be priced higher. By pricing the Kindle Fire at $199, Amazon CEO Bezos, may be counting on the tablet boosting Amazon's retail business, the digital music, and the streaming of videos, and bookstores. Surveys show the tablet being used mainly for web surfing or email, and less for watching video or reading books. Amazon has the Kindle e-reader which is a better option for readers because of the price. And video sources include other suppliers including YouTube and Netflix. Apple still has the edge in resources- $76 billion in cash and investments in mid 2011- to support lower prices on newer versions of the iPad with more capabilities and design features. Apple with its supply chain experience may be able to obtain better costs from component suppliers than Amazon for future price reductions. Sony and Samsung also bring the manufacturing knowhow and expertise to do this, with Sony's added capabilities in designing devices. The H-P tablet experience shows how quickly a tablet can become obsolete in this market....

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In an effort to get European authorites to approve the Nordstream 2 gas pipeline in coming months Russia is not moving quickly to ease a gas supply shortage in Europe. Russia supplies about half of Europe's gas supplies and today this comes through Poland and Ukraine two countries that are critical of Russia. The Nordstream 2 pipeline bypasses Poland and Ukraine and provides twice the current pipeline capacity.

Prices of natural gas are now 5 times that of last year.

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This report in the NYT says US officials now say Russia was not involved in the attack on the Nordstream pipelines in the Baltic Sea. The pipeline was connecting Russian oil and gas undersea to Germany and generated revenue for Russia, cost $12 billion each to build for Nordstream 1 and 2, so that it would have no reason to sabotage its own pipeline, say US officials. Cost of repairing the pipeline would be over $500 million.  Nordstream I and 2 stretch across the Baltic sea from Russia to Lubmin, Germany for 760 miles under the sea. Nordstream 1 completed in 2011 cost $12 billion to make, with a similar amount for Nordstream 2 completed over American objections in 2021 by the Merkel government in Germany. American officials are still reviewing the intelligence to understand how it happened. Just as happened for the spy balloons over the US initial reports and speculation have turned out to be misleading. It shows the importance of getting all the facts right, more than ever.   ...

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Reports by David Sanger and other reporters from the NYT on the situation in Ukraine as seen from the US, Russian, European, and Ukrainian sides. Russian president Putin sees Ukraine as part of the Russian cultural and economic sphere with deep ties to Ukraine in its history. The western parts of Ukraine near Poland and near the capital Kiev see their future more in relation to other Eastern European countries that have moved closer to or joined the European Union such as Poland and the Baltic republics of Lithuania, Latvia and Estonia. It is not clear even to advisors to the Russian government what Mr. Putin's intentions and plans are. Russia has not yet recognized the two breakaway republics in Eastern Ukraine based in Donestsk.  Some of the key points in Ukraine's recent history- one needs to know this because Ukraine has a difficult history in its relations with Poland/Lithuania and with Russia alternating over centuries, with neither relationship providing the kind of government that would have helped Ukraine's people. Formed only in 1991 the Republic of Ukraine has a long history since 1500 of being part of Poland and Lithuania, and later part of Russia, with some parts of Ukraine under the Austrian Hapsburgs till 1900. Ukraine was part of the Soviet Union in the 1920's to the 1950's in one phase in which it suffered badly with collectivization of agriculture under Communist Soviet leadership and famines. In the second phase of Soviet rule after the 1950's Ukraine made a dramatic recovery as Krushchev assumed control with Leonid Brezhnev who was from Ukraine. After 1964 Brezhnev ran the the Soviet Union till 1984 and this was a good period for Ukraine. The Soviet Union collapsed in 1990 and Russian leader Yeltsin separated Ukraine and Belarus to go their own ways as separate countries from Russia. For 1990-2000 Ukraine did badly losing about 60% of its GDP, a situation also experienced by Russia with economic instability. Russia recovered under Putin, yet Ukraine has struggled since because of mismanagement under different governments and widespread entrenched corruption.  Governments alternated in the period 2000 to 2020 between ones friendly to Russia and friendly to Poland and European Union. This happened in 2004 and again with protests in 2014. The protests in 2014 in Kiev and Lviv led to a government that favored closer ties with EU and NATO. It is this pendulum swing that is Ukraine's and Eastern Europe's experience in the 20th century and it continues into the 21st. What Russia wants is for Ukraine to not be a place for NATO operations, even if it is not allied to Russia after Russian president Putin was disappointed with the Russian allied government's performance under Yanukovich in the 2000-2014 period with corruption and mismanagement. France in the 16th and to 18th century is described by Brendan Simms of Cambridge in his new book on Europe, as needing the external danger for unity, and unity to meet external danger. This could be true also for Russia as the danger posed by NATO helps bring unity to Russia. And this could be a way to unify Russia and provide it with the confidence that it seeks in its effort for parity with the European Union and the US, China in the 21st century.   ...

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Brandenburg Berlin metropolitan region of which Brandenburg and city of Berlin are separate states remains a strong economic region. This is where Germany has evolved under ruler Frederick since the end of the Thirty Years War in 1648. Dietmar Woidke of ruling Social Democrats is expected to win a fourth term in office with the SPD expecting 25% of the vote in the important state of Brandenburg next to Berlin. Even though the AfD right wing party is expected to do well approaching 25% of the vote, there are other factors at work. Sara Wagenknecht has rebranded the Die Linke Left party with immigration policy that is similar to policies now being accepted in Denmark, France, Netherlands and other EU countries that see the need to restrict immigration, drawing 15% support. A good example being Mette Frederiksen, Social Democrats in Denmark. A coalition with the Christian Democrats CDU with about 15% expected vote and Greens with less than 5% is likely for about 45% of the vote. Other factors that show a stable Brandenburg are the economy with the new regional airport hub of Berlin Brandenburg airport, a new Tesla factory, rich natural resources a third of the state of 2.6 million people being filled with forests and lakes, and a stable population after the reunification in 1990 without rural depopulation as in other parts of East Germany, only 12% people of immigrant background including Wagenknecht.   ...

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After the National Rally party of Le Pen wins 30% of the vote to Macron's En Marche 15% in EU elections, showing the unpopularity of Macron, Macron responds by calling for snap elections. Macron is taking an aggressive approach to stop NR party as so far  parliamentary elections in France  have led to voters on the left and right veering to the centre to avoid giving the far right National Rally of Le Pen a win. National Assembly elections also require getting 50% of the vote under different rules than EU elections.  Politico points out that the situation is different today as the NR is more in the mainstream of politics. Macron's hope is that the NR would increase its seat numbers from 88 but not as much, and that other parties such as the Republicains and the Socialist parties, the parties that governed France since 1945 would also make gains. He could then appoint a prime minister not from En Marche his party but from the Republicains party of Nicholas Sarkozy, French president (2007-2012), which supports Macron.  ...

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Saudi Arabia signed a series of agreements with India at the G20 Summit with $100 billion in investments planned including digital, rail, energy  and other connectivity for the IMEC corridor for India through Middle East to Europe. Saudi prince MBS announces the IMEC Corridor and talks about its significance at the G20 Summit.