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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.


Wall Street Journal Original article ›
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The failure of Nintendo's new handheld 3DS video game device to win market acceptance. Sales dropped to 710,000 in the last 3 months from 3.6 million the prior quarter. Nintendo has now made a big price cut from $250 to $170. The entire videogame industy is going through a transformation where a closed platform like Nintendo's is facing obsolescence. Today any device with a screen and an internet connection can work for videogaming. Companies such as Zynga have Facebook games such as "Farmville" and "Cityville." Mobile and social games are $1 or $5 and often free when they have advertising within the games. They can be readily acccessed instantly by downloading, Contrast that with Nintendo games for 3DS which can sell for $30 to $40. Nintendo has sold over 87 million Wiis and 147 million DS devices. But the sales are dropping precipitiously. Wii sales dropped to 1.56 million in the most recent quarter compared to 3.04 million in the prior year, and DS sales fell to 1.44 million from 3.15 million, according to Nintendo. As a whole game sales in retail stores including hardware and software are declining down to $995 million in June 2011 from $1.111 billion for the same month prior year, according to NPD Group. Microsoft continues to see an increase in its Xbox gaming business- with a 30% increase in sales to $1.49 billion for the last quarter for the division with the Xbox business. One reason is that this is a group of hard core gaming customers who prefer shooting and sports games including the use of a camera device called Kinect where body movements are used by players. In that manner this business is insulated from the overall trend where game developers are shifting to new technologies and developemnts such as Facebook and iPhone. Electronic Arts is focussing on the fast growth for popular games on the iPad....
Wall Street Journal Original article ›
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Malone describes the future of Silicon Valley and a return to its roots in a world of new devices closer to where Dave Packard and Noyce (followed by Jobs) started the first tech developments in California. He sees a larger Silicon Valley spread out over a much larger region by 2050.
Wall Street Journal Original article ›
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Lee Kuan Yew, passes away at the age of 91. He led Singapore for 31 years after becoming prime minister in 1959. During this period he helped transform Singapore's economy into a centre for international trade and finance by attracting foreign investment. To do this he developed infrastructure, setup training colleges for the workforce, and provided tax breaks for investors, using Singapore's strategic location on the sea lanes in Asia to best advantage. Singapore became a export hub for Japanese electronics companies, and U.S. companies such as HP and General Electric established regional headquarters there. Strategic investments were made in high tech industries and Singapore's sovereign wealth fund took stakes in companies overseas. He retired in 2011 after opposition parties won 40% of the vote in general elections. His son is now the new prime minister.
Washington Post Original article ›
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Barry Ritholtz lists the causes of the financial crisis, He says New York Mayor Bloomberg's exoneration of the financial industry is simply false- what he calls "the Big Lie"- even though Congress, regulators and the Greenspan Fed acted irresponsibly and created favorable conditions for the actions of the financial industry.
New York Times Original article ›
LyrArc Article Gist
Alexandria Ocasio-Ortiz a 28 year old campaigner for Bernie Sanders defeats veteran politician Joseph Crowley in a Democratic primary with 57% of the vote. It brings a wind of change to New York politics and to the country.

Wall Street Journal Original article ›
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Canada is the largest supplier of oil to the U.S., supplying more than 2 million barrels of oil imports a day. Here the heads of the U.S. and Canadian Chambers of Commerce argue that a new pipeline from Alberta, Canada to Texas would supply an additional 1.1 million barrels of oil a day. The pipeline project- called the Keystone XL pipeline- has been under review by the U.S. government since 2008. An Energy Dept study in February 2011 found that the project should go ahead, but it is being held up for further environmental studies by the Obama administration. The delays may be the result of opposition to Canadian oil sands development. At the same time significant progress has been made in reducing the environmental impact of oil sands development. About 80% of the water used in the process is now being recycled. Tailing ponds containing waste product from the oil shale process are also being reclaimed for green land and replanted with trees and shrubs. TransCanada says the Keystone XL pipeline could create 20,000 new American jobs for construction, and 250,000 jobs in the long run. Strict environmental standards can be followed say Donahue and Beatty, because the U.S. is partnering with Canada....
Washington Post Original article ›
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Washington Post reporters Clement and Gushkin with research and polling experience at Pew Research Center give the results of the Post-ABC News poll taken before the State of the Union 2023 address by president Biden. It shows what president Biden has said about his  investment spending of trillions of dollars in America's crumbling infrastructure, in new manufacturing for chips, advanced technologies, R&D, electric charging stations, EV vehicles, renewable energy. "Folks we are just getting started." The investments are taking place quickly because today there many projects ready for investment. Yet it takes time for the manufacturing plants to be built, new expressways and bridges to be built. The poll shows not enough people know- only a third of people know about two thirds do not know. That Mr.Biden is aware of this is apparent. He says-"It is one thing to have passed it all- now we have to make sure we're on it every single day. Not a joke." And on Jan 26, saying "Implementing it so people can see what we've delivered and give it to them directly."  This is why president Biden used his State of the Union address to make the points directly to the American people. This is also seen in his recent speech to a union audience when he told workers- Mr. Trump used infrastructure as a punchline, Biden turned it into a decade only headline. Creating well paying jobs and doing this while cutting the deficit by trillions of dollars. To give the contrast Mr. Biden told workers and working families the spending cuts proposed by the Republican House of Representatives were according to Moody's likely to result in a loss of 780,000 jobs.    ...
WSJ Original article ›
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This WSJ report looks at the state of manufacturing in India in 2023. Foreign companies in renewable energy from Denmark, Apple Computer, and local companies such as Ola in electric scooters, are building factories and expanding manufacturing capacity in Sriperumbudur and other special economic zones in Tamilandu state of India. BMW and Nissan are also located in the state. It comes as friendshoring from the US is encouraging foreign companies to invest in India. There is a definite acceleration in the growth of electronics and machinery exports under the Indian government's Make in India plan. This report shows that India is in a learning curve in developing its manufacturing base. Not shown here are how the goals and execution of a sound overall plan is envisioned by the government. The Gati Shakti plan put forward by Mr. Modi is intended to bring together all agencies of the government to work together seamlessly to provided an overall execution of infrastructure development for logistics, airports, fast rail, roads and bridges, and modern housing. It is a National Master Plan for Multi Modal Connectivity that brings together 16 ministries for building state of the art infrastructure. The national plann ing agency NITI Aayog says it recognizes the multiplier effects plus spillover effects of infrastructure development for  Indian manufacturing, and understands how the US, Japan and China accomplished this going back to the New Deal in the US in the 1930's. It can also pioneer in new ways learning from the experience of these countries. This will bring results in demonstrating how India is learning and developing its own model of the best way to build excellent infrastructure, and do this with renewable energy, and environment inclusive efforts.    ...
NYTimes.com Original article ›
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Orhan Pamuk, internationally known Turkish writer, gives a photographic story about walking around in Istanbul seeing the natural yellow light along the streets and shops in different neighborhoods. This is before the shift to bright white light from new light bulbs changes the look of the streets. Orhan Pamuk has a humility in his writing, touching so many readers. So much like America's Walt Whitman, to whom we owe the name Lyrarc, formed from the first three letters of two constellations Whitman saw in the night sky over the St Lawrence river in northern Quebec in 1880. Pamuk describes the changes in these neighborhoods, in places that he walked through in the 1980's, 1990's and today. For the first time walking through difficult poorer neighborhoods made possible by a body guard assigned by the government. He sees the social transformation of the European parts of Istanbul in winter walks that started in 2016. Gives us this photograph of a Syrian immigrant woman looking for help on a street in Istanbul. Istanbul remolded by Syrian and other Arab immigrants, by nationalist sentiment. He writes so much like Whitman about Brooklyn and New York,  that beguiling feeling that he got from the nightscape in Istanbul during his brisk walks in the city, that curious energy to which he felt closer during these walks. Much like Whitman writes in Crossing Brooklyn Ferry (1891) about the hundreds and hundreds of people crossing by ferry boat being more curious to him and being more in his meditations than they would ever suppose. Orhan Pamuk is a real human ambassador for Turkey in today's chaotic, confusing Middle East. He was the 2006 Nobel Prize Winner for Literature.  ...
NYTimes.com Original article ›
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The kind of Nation America will be is already being determined in America's classrooms. The share of students chronically absent from US schools has jumped from about 15% before the pandemic in 2018 to 26% in 2023. In the richest districts from 10% to 19%, in the poorest districts from 19% and  to 32%. Losing about a third of children K-12 in schools for absenteeism is a huge learning loss to the Nation. Missing more than 10% of classes counts as chronically absent, the data is from 40 states in the US K-12. Majority White went from 13% to 22%, Majority Non White went from 17% to 32%. Analysis of data from American Enterprise Institute. This has real implications for learning loss and student behavior. Even school districts which opened earlier in the pandemic are affected to same degree with absenteeism doubling in Victoria, Texas school district. In this report NYT has a place where you can enter the school district name for instance entering Dearborn School District in Michigan and it shows the absenteeism has gone from 10% to 26% in this district and this means it has close to tripled. In adjoining Dearborn Heights it went from 25% to 44%. In New York City this goes from 25% pre pandemic to 36%. Compare this with the richest districts in the Nation when we entered Scarsdale we found absenteeism up from 4% to 7%, next Piedmont in California 6% to 9%. Irvine Unified relatively affluent 5% to 12%. What this means is that across the board there is learning loss and in addition the disparities are also growing from the wealthiest to the middle income and the larger population districts such as New York, and the diverse Dearborn, MI.  ...
WSJ Original article ›
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Some clues to why president Biden is not getting the credit for work done to better people's lives is the workplace. Workplace dissatisfaction measured in the Gallup 2023 Workplace Report shows the number of workers stressed, disengaged, or angry, is rising. A BambooHR analysis of data from 57000 workers shows job satisfaction scores have dropped to the lowest level since 2020, dropping 10% in 2023. Some of the causes- the unsettled state of the workday, being micromaanaged back to the office, even as they realize the isolating nature of remote work or hybrid work, inflation erasing any gains in wages, and a cooling job market leaving some stuck in same roles. New workers were hired in 2022-2023 and many have still to find fulfilling roles. Employers focused on hiring and less time was spent on situating new employees well. This is happening even as workers have more control where they work. Other causes are a backlash to employers efforts to get all employees back to the office. Another issue nearly a thrid of workers do not work in the same place as their bosses at large companies, up from 23% in 2020, accroding to an ADP survey. This means workers have long distance relationships with bosses and co-workers, weakening ties. In 2023 it is a very different workplace than before the pandemic. It may also offer some clues to why workers are skeptical about the work done by the Biden administration looking at their own lives after the pandemic even though major efforts are being made by president Biden in cost of living, in wages, support for labor and unions, and in rebuilding infrastructure and public services. ...
NYTimes.com Original article ›
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Anton Troianovski reports for NYT from Geneva on the talks between Russian foreign minister Sergei Ryabkov and US Deputy Secretary of State Wendy Sherman on the Russian proposals for redrawing of the boundaries between Russia and Eastern Europe. Russia has insisted talks take place without the Europeans. The Russian view is that the current borders with strong US presence in Eastern Europe- in Poland, the Baltics, Ukraine, and other parts of Eastern Europe were a result of the new borders being thrust on a weakened Russia after the collapse of the Soviet Union.  The US insists it will not do anything without working with its European allies, but is willing to look for some areas of common ground. European Union and Germany see the new Eastern Europe formed as a result of the self determination of countries in the region, and their right to choose their future. Ukraine was historically close to Russia. After the collapse of the Soviet Union Ukraine had developed two identities with eastern parts of the country closer to Russia reflecting earlier close ties and the western parts of Ukraine closer to Poland such as cities Lviv and Kiev reflecting the mood in Poland and Baltics for an independent Ukraine. Lviv is only 70 kilometres from the Polish border and shows traces of the Austro-Hugarian central European heritage. Kiev is about 300 miles from the Polish border in north central Europe. Elections led to governments alternating between close ties to Russia and distant ties to Russia with the two recent governments opposed to Russian interference in its affairs. President Putin responded with invasion of Crimea and forming an autonomous region in eastern Ukraine. In the latest move Putin seeks to reset the borders in a way that is favorable to Russia.   ...
New York Times Original article ›
LyrArc Article Gist
David Gelles interviews heads of companies in his column for the New York Times called Corner Office. Here he talks about CEO's frquently bringing up the topic of meditation in his interviews. Gelles practices meditation and mindfulness since his college years when he spent junior year in India at Buddhist monasteries and retreats as part of the Antioch Buddhist Studies Program. He is also the author of columns in the NYT on meditation and mindfulness.  The head of Salesforce, Marc Benioff, tells Gelles that meditation practice helps him step back and listen deeply with a beginners mind aware of the present moment. Benioff has set up meditation rooms in Salesforce Tower in San Francisco, and invites Buddhist monks to his house.  After a skiing accident in 2004 Marc Bertolini, head of insurance company Aetna recovered using meditation practice. He setup mindfulness classes at Aetna and says this has changed the corporate culture for the better with efforts for improvement and people coming up to him with new ideas.  Designer Eileen Fisher practices meditation and this has helped her in business as she set goals to improve factory conditions for clothing workers in China. The head of Hyatt Hotels says mindfulness is helpful in bringing empathy in relations through the practice of being in the present. He made mindfulness the key part of the company's Wellness programs. Google, Ford and McKinsey now offer meditation programs in the office. Similar trends are taking place in Europe. When asked about a company's responsibility to society, Benioff of Salesforce says his company is part of the whole that includes society, that we are all connected and part of the one.     ...
WSJ Original article ›
LyrArc Article Gist
The long awaited renewal of America's National parks may finally be arriving with massive funding of the National Park Service by president Trump in 2020. Billions of dollars of undone maintenance from washrooms, to restaurants, to camping facilities for people, and maintenance work in the parks is finally being tackled in 2020. A new law called the Great American Outdoors Act will put $9.5 billion towards this which now has a bill the size of $12 billion for undone maintenance since 1990's.  Everything from water pumps, to camping facilities, remodeled buildings, employee facilities and housing, adding staff, will now be tackled. At the Rose Garden signing Mr. Trump said of teh National Parks what Teddy Roosevelt has always said- "This is truly God's creation. President Theodore Roosevelt was right when he called these exquisite resources." Mr Daines  Senator from Montana who with another Republican Mr. Cory Gardener of Colorado got enough Republicans to support the bill to get it passed 73 to 25 in the Senate. This is a great achievement for the American people particularly at a time like this with the pandemic taking over 150,000 American lives and so many recovering from the coronavirus. There ia new appreciation of the outdoors, of trees, gardens and of parks. The national parks show the beauty of America and every child sees America differently once he has experienced a stay in one of the many parks from Yosemite in California to Acadia National Park in Maine. It is a gift to the generations made possible today by spending money first in America, and regaining the national spirit. ...
The Guardian Original article ›
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Labour party in Britain is removing a never used anti-labour minimum services law that tended to worsen industrial relations and make it difficult to negotiate and resolve disputes over wages and conditions. The minimum services restricted the ability of 5.5 million workers to negotiate wage increases- it affected ambulance services, fire and rescue, teachers and rail services, border security to take industrial action, by requiring that a minimum level of service had to be provided. It was adversarial in nature and Angela Rayner call its effect as "poisoning industrial relations." We’re consigning it to history,” she said. “Scrapping this toxic legislation is our first step in ending the scorched-earth approach that has blocked negotiation and compromise to resolve disputes and prevent disruption." “This government’s new deal will create a new partnership between business, trade unions and working people and is fundamental to our growth mission.” A White Hall (British Civil Service) source says it was never used, Business did not want it, the legislation never worked, and Britain still lost more days to strike action than France or Spain. He says "it is the first major step in terms of resetting our relationship with the trade unions of this government." Jonathan Reynolds the Secretary for Business and Trade says- "The strikes act has not worked; it was a gimmick which inflamed tensions and only made serious negotiations harder, ultimately harming our public services and economy. It is telling that no single business ever used this pointless legislation. Putting an end to costly strikes that impact people’s day-to-day lives is key to getting our economy moving again and ending the chaos for our public finances.” ...
The Guardian Original article ›
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Biden cited Benjamin Franklin's response to the question "What have we got a Republic or a Monarchy?" to which Franklin replied "A Republic, if you can keep it."  Under portraits of Thomas Jefferson, Geroge Washington, Abraham Lincoln, Franklin Roosevelt in the White House Oval Office, Biden said: “I revere this office but I love my country more,” he said. “It’s been the honour of my life to serve as your president. But in the defence of democracy, which is at stake, I think it’s more important than any title.” "I believe my record as president, my leadership in the world, my vision for America’s future, all merited a second term,” he said. “But nothing, nothing can come in the way of saving our democracy. That includes personal ambition.” I’ve decided the best way forward is to pass the torch to a new generation. It’s the best way to unite our nation. I know there was a time and a place for long years of experience in public life. There’s also a time and a place for new voices, fresh voices, yes, younger voices. And that time and place is now.” “The great thing about America is, here kings and dictators do not rule – the people do,” Biden concluded. “History is in your hands. The power’s in your hands. The idea of America lies in your hands. You just have to keep faith – keep the faith – and remember who we are.” ...
WSJ Original article ›
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April 2025 WSJ forecast of recession in next 12 months is 45%. In 2022 and 2023 forecasts for recession in US were at 60% higher than the 2025 forecast of 45%, yet no recession happened.  It all depends on the USTR's Jamieson, and DJT's advisers Bessent, Luttnick, and Navarro, and Lighthizer, DJT using all their experience and carefully using Tariffs to achieve US goals. This means working out the details of the US economy, of inflation, GDP growth, cost of living, to maintain confidence of people in America, the confidence of the working people in America. Action on pharmaceuticals bringing production back home is a win as here it is a clear way to get companies to reduce prices. Permitting imports removing backward looking laws restricting pharmaceutical imports would create the competition that was missing. US automobile companies knowing the government has their back can actually cut prices in the first 12 months of 2025, with Toyota and Hyundai-Kia following suit. This would remove another source of inflation. On iphones and computers getting companies to create a new US+1 with India by 2027 would enable 60% of iphones and computers to be made in India and the US by 2027, The new strategy would be to combine the industrial base of India with the US to create plenty of good US jobs as the priority. Piece by piece the puzzle can be put together with attention to details and keeping overall goals in mind to restore US manufacturing and US industrial base, jobs, that will create its own tailwinds for decades of future growth.   ...
YouTube Original article ›
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Vigorous and eloquent testimony before Congress by Treasury Secretary Scott Bessent, answering questions from Republicans and Democrats. Bessent had just landed from London at 3 am in the morning and after 3 hours of sleep took the time to answer over 5 hours of questioning by members of the House of Representatives. In question after question he explained how the certainty offered by the tax cuts bill would help small business and job creation in the US. The permanence of the 100% expensing of buildings and equipment would help farmers and small business , regulations would be cut, and manufacturing would take off. Manufacturing employs 9% of the workers in the US and their wages will rise faster than for service workers. The combined effects of the improvements for small business, farmers and for manufacturing workers will help the American middle class, America's working class, and increase the growth of the economy. Bessent points out that in the original bill of which the new tax bill is an extension the top 10% paid 7% more in taxes in 2017. He also points out that workers were hurt the most by the slower rise in wages and the rise in cost of living of 21% in 2021-2022, which he says was in essential goods with the actual impact of about 30%. With higher jobs creation by small business and more investment in the economy more able bodied men can join the workforce and gain healthcare benefits under new rules. He pointed to low inflation at 2.1% and to higher job creation, and to higher growth in the economy of 2.6%, that with other savings could lower the deficit. ...
WSJ Original article ›
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Much of what is written here about Xi Jinping pursuing Chinese socialist vision was known since he became president in 2013 when China's Communist party was losing its appeal, and efforts were made to seize power within the communist party by a leader in the western province of Chongqing. Bo Xi Lai attempted to take advantage of the situation with appeals to the working class and without any genuine commitment beyond a power grab. It was well known that Xi Jinping is a son of one of the veterans of the Communist party under Mao, Xi Zhongxun, unlike leaders who followed premier Deng Xiaoping such as Jiang Zemin. Zemin was a relatively unknown figure who was in university during the crucial period of 1947-49 when Mao came to power in mainland China. It would not be correct to say that little was known about Xi's own ideas about socialism as the long term answer to China's problems. Xi also came in as president at a time when the Communist party was losing its appeal to working class people after three administrations that followed premier Den Xiaoping. These three administrations followed a form of state capitalism that allowed companies to pollute the environment, compete without any regulations, and allowed to operate without any controls as long as they pursued growth aggressively and expanded the economy.There was an effort by Communist party regional leader in western Chinese province of Chongqing, Bo Xi Lai, to use this as an opportunity to grab power in China. During his first year as president Xi had to resolve this issue by having a court trial after revelations of corruption and misuse of power by Bo Xi Lai.  Xi's father Zhongxun's role in the revolutionary movement offers clues to Xi's own convictions and faith in the party. Zhongxun was a communist soldier who set up the revolutionary base areas in Shanxi-Gansu northwest border region of China that provided a refuge for Mao's army following the Long March. Other clues come from Zhongxun's role as head of propaganda during the period after 1944 and in 1952. Xi's family background particularly on his mother's side shows a fervent commitment to Chinese socialist vision during the chaotic years when the Japanese invaded China and Chiang Kai-Shek's nationalist forces failed to defend China's sovereignty. One reason Xi has been less understood is that little attention is paid to Xi's mother, Qi Xin who was highly educated and fervently believed in Chinese socialism and nationalist spirit during the Japanese invasion in 1938. In fact Qi Xin had to leave middle school after the Japanese took over Beijing. She joined the Counter Japanese Political and Military University to continue education and in 1941 attended the Central Party school. She met Xi's father Zhongxun in 1944. In 1953 she enrolled in the Marx School of Communism, and it was her position at the school that offered her husband added protection during the Cultural Revolution that affected Deng Xiaoping and others. With such a history in the 1930's, 1940's, and 1950's it is likely that Xi was profoundly influenced by his father's role in the revolutionary movement, and his mother's faith in socialism with national spirit as the way to protect against the foreign invasions. It would now appear that by the time Xi joined the Politburo in 2003 there was no question about the future course China would take given the role of his parents, and the events of 1938 the fall of Beijing, his mother having to flee, and the events that followed. Xi showed resilience during the period of the Great Proletarian Revolution when he was sent to the villages at a time when he would be studying in school and college. He was sent to an agricultural commune in largely rural Shanxi province where he worked as a manual laborer alongside other people and developed a relationship with the local farmers. Unlike other leaders during that period which could even be said about premier Deng Xiaoping in 1989, Xi took a different lesson from this experience largely because his father and mother were committed to the socialist vision for the long run. His father was still not fully rehabilitated by premier Chou en-lai when Xi was allowed to enter Beijing's Tsinghua University in 1975. He studied chemical engineering at Tsinghua graduating in 1979. Upon graduation he worked as a assistant for 3 years to a vice premier who was minister of defense. He then left Beijing for Hebei province to work as a deputy secretary of the provincial CCP. He was made Mayor of Xiamen, then governor of Fujian province in 1999 where he tackled environmental conservation before moving to Zheziang province. His father passed away in 2002 and it would appear that he was carefully trained in different provinces instead of staying in Beijing, for a position of national leadership. Xi got his break in 2007 when the upper leadership of Shanghai city was tainted in a wide ranging pension fund scheme. He was made party secretary for Shanghai. This was the position Jiang Zemin had held before he succeeded premier Deng Xiaoping. In only a few months in October 2007 Xi was made one of the 8 Politburo members, ready to succeed Hu Jintao as president. Xi's perception of being sent to the villages and making it to university education was that it was part of the long run socialist struggle, with pain that his father had also endured as simply a phase in which things would be right in the end. Xi's mother comes across as a resilient figure and one who had herself gone through the struggles of the 1930's and aided her husband on one occasion. Some of this resilience could have been passed on to the son. Xi's wife is a zealous participant in Chinese dance and music performances that created enthusiasm for the Chinese socialist revolution from the 1930's period. In his conversations  with colleagues in the party, in culture and temperament, Xi has been forthright about this background and his style of work.  Xi is unlike premier Deng and the presidents who succeeded him such as Hu Jintao mentored by a former mayor of Shanghai Jiang Zemin who came to power in 1989. Xi is more in line with the leaders around Mao like his father in his outlook and thinking, with a cautious temperament that comes from years going through ups and downs of political struggles. He is once said to have responded with dismay about being in a top position in the government knowing how precarious this had been for his father. The education at Tsinghua, his engineering background, and his easy familiarity with farmers in the provinces, mean that he understands China and its history well enough to have the confidence to shape Chinese policies in a way that none of his predecessors had except Mao, premier Chou-en-lai, Liu Shao Chi and a few veterans from that time in the 1930's. That Xi waited patiently for so long to gradually assert his ideas about socialist vision for China may be the surprising part of his behaviour till 2021.  It may be that he wanted to make the changes only after he could persuade party leaders and colleagues of his vision and long run goals. And because the Chinese economy had grown so large that it would take time to steer the ship in a different direction for the long term. In most of the negotiations with president Trump he cautiously let trade negotiators handle the situation, all the time learning about how to tackle problems of China's relationship with US and Europe. US president Biden also has a vision that is veering towards a socialist perspective in terms of bringing gains of progress to workers and families. So does Mr. Trump, Mr. Boris Johnson in UK, and Social Democrat's Scholz in Germany. It is both economic and political as Mr. Xi is quoted as saying in this WSJ report. The necessities of such action are both economic, social and politically driven as capitalism has veered way off course.  In this report it is mentioned that Soho China 40% stake was taken by a large capital markets firm in New York in the hope of large gains, as Soho China developer was a tycoon who wanted to leave China. Seeing it as not favorable to his company following events in Hong Kong. This behaviour of capital markets groups in New York and tech companies in Silicon Valley, driven by profits and not aware of the social and economic problems of working class American families is a problem in the US and in Europe. It is also what has driven so many large tech companies to expand manufacturing operations in China, that hurt US manufacturing capabilities and American workers jobs- an issue raised by president Trump and taken up by president Biden. Biden has already moved to make Intel Corporation change its plans and invest in American manufacturing technologies in a quietly implemented U turn. US president Biden is left with the unenviable job of solving this huge problem during the pandemic. He has also committed to a somewhat socialistic vision with a $3.5 trillion plan for workers and families, as has vice chancellor Scholz in Germany with his own version of programs, after the failures of unregulated forms of capitalism. Scholz goes so far as to say his mission is to show that there is really no such thing as a self-made man, that it is help from society, his fellow citizens, and government, that makes it possible for him to do his work. In a sense the world is shifting away from Reagan forms of capitalism without regulation after seeing disastrous results during the pandemic. Not just China. Some form of government guidance and regulations are now seen as essential in China, the US, UK, Germany and India for a better society and a better, healthier life, and for opportunity for all in each country.   ...
The New York Times Original article ›
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This NYT report by Eric Schmitt describes the efforts of U.S. troops in Europe under Lt. Gen. Frederick Hodges to build  a fast movement capability to counter the threat from Russian forces on the borders of countries in Eastern Europe. Hodges says speed of movement is crucial. American forces are deployed in smaller numbers than the Russian forces. A 10 day exercize under Hodges involved 25,000 American and allied forces across Hungary, Romania and Bulgaria. Russian forces exercizes involve more than 100,000 troops. The war in Ukraine involved a breakaway region in the east supported by Russian forces.

Commanders and younger officers were trained to address the Cold War threat with the soviets. Then for over a decade the focus shifted to Afghanistan, then Iraq and Syria. Now the focus shifts back to the Eastern European area with a new Russian threat.

New York Times Original article ›
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A native of Turin, who was a debonair lawyer then retrained as a physiotherapist, is beloved as "Alberto" to the Afghan people. He runs the Red Cross Afghan Rehabilitation Center in Kabul, and is the most loved westerner in Afghanistan. Its a visible location, but in all these years of war it has never been attacked. In the tradition of the Red Cross founded in 1860 as a neutral entity, the Red Cross's orthopedic centers make no distinction by political affiliation and help combatants on all sides because only the name is asked, as well as civilians who have lost legs to landmines. About 90,000 people have received new limbs since 1988, and 70,000 revisit the centers each year for replacement or adjustment of their prostheses, which last an average of 2 to 3 years for adults and as little as 6 months for children. All the treatments, including overnight stays at the centers that can run for weeks, are free. About 10 million mines were strewn across the landscape in the Soviet invasion from 1979 to 1988. Because most of these mines have been cleared by the UN and charities like the Britain's Halo's Trust, patients now recieve help for congenital deformities, polio, tuberculosis, and accidents as well as other war injuries....
Wall Street Journal Original article ›
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The logjam continues between the French and German banks- represented by the Institute of International Finance and its negotiator Charles Dallara- and the governments of Germany and Greece, supported by the IMF. The position of the Greek government is that the interest rate on new bonds stretching out over a long time period that woud be exchanged at 50% face value of existing bonds should be set at rates well below 4%, because Greece faces a growing deficit and rapidly worsening economy. The German government which is faced with the prospect of providing additional funds to Greece supports this. The IIF position is for an interest rate of between 4-5%.
Wall Street Journal Original article ›
LyrArc Article Gist
A study by Prof. Peter Petri of Brandeis University, shows the Trans Pacific Trade Agreement boosting economic output in the U.S. by about 0.4% by 2025 or $77 billion. Winners are biologic drugs which get long term patent protection, tech firms and software engineering services. Losers are the Detroit auto industry with higher auto parts imports, light manufacturing, and some heavy manufacturing sectors. Prof. Douglas Irwin of Dartmouth College and other experts say it is not clear how U.S. consumers and businesses will benefit. The import duties as a percentage of total imports are now at about 1.4%. Experts say about 4/5ths of the benefits of TPP for the U.S. are from opening up trade in services and new rules for investment and commerce. TPP includes Pacific countries Canada, Australia, New Zealand, Chile, Mexico, Malaysia, Singapore, Vietnam, and Japan. Issues are environmental rules, worker protection and standards, agricultural imports in sensitive countries such as Canada and Japan, affordable drugs in poor countries....
The Guardian Original article ›
LyrArc Article Gist
In Britain, in India and in the EU, the race is between the vaccination drive and the infection case growth, as each country and region takes steps to accelerate and organize production, distribution and administering of the vaccine to all parts of the population.

The latest late stage trial for Astra Zeneca vaccine in US, Chile and Peru, offers new hope. It is shown in that trial that it is 100% effective in prevention of hospitalization and deaths, and 79% effective in prevention of symptomatic illness from the coronavirus. It is also seen as safe by experts as it goes for FDA regulatory approval in the US. It is provided at cost, and storage is in ordinary refrigerators for long periods, with production in India of large quantities of the vaccine, making it a vaccine that could reach large parts of the world's population.

WSJ Original article ›
LyrArc Article Gist
US jobs reports May June 2025 revisions suggest slowdown.14000, 19000,  and 73000 US job gains May June and July 2025 suggest slowdown in the economy. Layoffs are low but hiring is slowing as companies tackle uncertainty. Number of people unemployed 27 weeks increases from 1.65 to 1.83 million in July 2025. Healthcare and social assistance added jobs. Government layoffs were 12000. Unemployment rate increases from 4.1% to 4.2% in July 2025.

In 2024 166,000 jobs were needed for unemployment rate to be steady, now just 86,000 jobs because immigration has dropped to new lows. This is important to note for rest of 2025 to 2030.

Also jobs reports are seeing downward revision because smaller companies tend to send in data late to the Labor Department in the current uncertainty.


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