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Leakage of state funds is serious. Just think how many hospitals and schools, how many solar panel farms or wind farms can be built with $4.5 billion that is reported as the money laundered in the 1MDB leakage of state infrastructure funds? Here it is reported that Goldman Sachs settles for its involvement in the 1MDB with $2.5 billion in cash and guarantee recovery of $1.4 billion in proceeds from assets lost by the Malaysia state infrastructure fund. This is what the WSJ says on July 24, 2020, Ben Otto and Chester Tay- "Goldman Sachs was the main banker for the Malaysian fund 1 Malaysia Development Bhd. or 1MDB. The bank raised billions of dolars for the fund which was allegedly stolen by people working for the fund, government officials and two senior Goldman bankers." It also says Goldman raised $6.5 billion for the 1MDB through bond sales in 2012 and 2013, much of which was stolen by a Malaysian government advisor. And that Goldman received $600 million in fees which would be about 10%. Many of the countries in Asia and Africa have a colonial past in which little or no investment was made for centuries in heath, education and infrastructure. This makes it all the more appalling and heartbreaking. Goldman bankers were also involved in advising China during the hyper growth years which are leading today to little or no growth and concentration in property sector, with appalling devastation of the climate in China over a compressed period of 10-15 years 1995-2010,  leading to fires, floods, drought in China and worldwide, including in Africa and Asia. Was this good advice or self-serving for investment banks as this was accompanied by shift of manufacturing to China leading to decay of communities throughout America and and now a reversal after the pandemic all compressed so as to wreak havoc first one way and then the other way leading to a world more prone to conflict and war. Was this good advice or a cautionary tale for both America, for African and Asian countries and for China most of all a country that has a colonial past and treated with respect by Americans. Two Americans come to mind  Theodore Roosevelt who helped establish the now famous Tsinghua University in Beijing in 1911, and Joe Stilwell who led the Allied operations in China against the Japanese. Were Roosevelt, Stilwell sincere friends of China and Asian countries or the Goldman bankers is a question that just comes up. ...

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Sorkin looks at Mandela's shifting views on nationalization after talking to the Communist leaders of China and Vietnam at a Davos meeting in 1992. They asked him why he was talking about nationalization when they were considering privatizing state enterprises. He looks at the foreign investment attracted by South Africa and where free markets have fallen short in the income gaps between whites and black people.

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Slavery was banned by the 19th century in Britain and its Empire, it took the US till 1861 to do this and till 1961 to end racial segregation. By contrast Britain followed a policy in China throughout the nineteenth century that brought enormous pain and suffering to the Chinese people through the Opium wars and opening up of ports for opium trade in China. And the US under presidents Wilson, Coolidge, Franklin Roosevelt, and the American people followed a policy of respect for the Chinese people during this period with the idea fervently America believed of a modern nation emerging from the chaotic period of Manchu monarchy's decline by 1900 and warlords civil war + Japanese invasion from 1900-1945. For Britain and the European colonizers Chinese and Indian people were for the most part "coolies." Joe Stilwell, FDR's Supreme Commander of American Forces in China was the ultimate free of racism. A order from the Republican Coolidge administration in the 1920's was for any American soldier to be courtmartialed for so much as laying a hand on a Chinese coolie. A modern nation did emerge as the American people hoped and fought for in China, and in India over the 25 year period in the 21st century, with Britain having failed to bring the same level of understanding that America had for the Asian people.  Britain's monarch Charles tells Commonwealth leaders his government is not paying reparations for slavery yet is determined to create anew understanding to work with other nations in the future, to discuss issues with openness and respect. There are 56 nations in the British led Commonwealth, the largest of which is India. It includes South Africa, Kenya, Tanzania in East Africa and Nigeria, Ghana in West Africa.    ...

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Scientists have now found a cure for the deadly XDR strain of tuberculosis. A trial was run in South Africa recently. Of the 30,000 such cases most are in China, India and Russia. About 10 million people get tuberculosis each year making it the deadliest infectious disease. About 40 daily pills are taken for 2 years for the cure, which is now FDA approved.

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African continent debt reached $1.1 trillion in 2024. About 900 million people live in African countries where interest payments on debt exceed money spent on healthcare and education. In Nigeria external debt is $40 billion, in Kenya $35 billion and Uganda $12 billion.  Take Nigeria with 220 million people. 40% of the revenue collected goes to meet interest payments on debt. For many African countries there is zero per capita income growth for a decade. During the 2010 crisis as interest rates reached new lows US and European Reagan era intellectuals including Democrats encouraged African countries to borrow at low rates and banks loosened restrictions putting more African countries into debt buildup borrowings. As interest rates went up the cost of paying the debt accumulated required more loans at higher interest rates. Nigeria paid a premium over that of 10% for a loan of $2 billion just for interest payments. The debt crisis means African currencies depreciate reducing purchasing power.  With war in Ukraine and Covid prices of food and energy rose. Only the strong and disciplined leadership and rapid industrialization provided breathing room as with Modi in India, Jinping in China, the African continent and Latin America lacked this and are feeling the pain. ...

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Pokhara airport Nepal cost about $200 million but it does not get international flights from India which make it unsustainable. On the 10th anniversary of China's Belt and Road which has invested $1 trillion in development projects in poor countries of Asia and Africa, NYT's Wakabayashi, Sharma and Fu look at the China project that built a new international airport at Pokhara. CMAC initially submitted a bid for $305 million about twice what it would otherwise cost says this report, which was lowered to $216 million. Nepal signed a 20 year agreement with China. Only Chinese firms would be used in construction. A quarter of the loans at no interest. The rest a loan at 2% interest with repayment starting in 2026 from the Export Import Bank of China. 

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When it comes to climate change China is the largest emitter of greenhouse gases in the world- more than North America, Europe, South America and Africa combined. It emits about one third of greenhouse gas emissions in the world. When it comes to climate change action China is meeting its 2030 targets 6 years earlier, and it is meeting all the increased use of energy through renewables. Yet there is another side and this is that China is building coal fired plants at a rapid pace to meet its energy needs. Xie Zenhua meets John Kerry at Sunnylands estate in southern California to discuss how China and the US can cooperate on climate change action. No two nations are so critical to meet the challenges posed by climate change from fires to floods and drought.

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Two of three obese people live in developing countries. About 29% of the global population is obese in 2013, according to the Institute for Health Metrics and Evaluation at the University of Washington. Between 1980 and 2013, obesity increased by 47% for kids and 27% for adults in the global population. Dr Murray of IHME says no country was the exception. Diet and inactivity are the principal culprits. About 37% of world's men and 38% of women are obese. Obesity increased rapidly first in developed countries, becoming noticeable by 1980 and slowing since 2006, and now is growing fast in developing countries. Germany is a surprise No. 8 on the list. The U.S. No. 1 ranking tells a lot about the misguided priorities of living in the U.S., lack of education on healthy eating and healthy living, and not putting healthy habits at the top of things to do above making more money. An extreme case is South Africa where 42% of women are obese. The most obese countries are by rank - U.S., China, India, Russia, Brazil, Mexico, Egypt, Germany, Pakistan, Indonesia. Middle Eastern and North African countries have high obesity rates for children. The study is funded by the Bill and Melinda Gates Foundation....

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NATO Summit in Madrid comes right after the G7 Summit. Just days before the NATO Summit in Madrid a number of important steps are taken. The NATO Response Force is increased from 40,000 which lacked deterrence to 300,000. Additional military spending of $100 billion announced will increase spending by the amount of the entire Russian defense budget. Turkish backing for Finland and Sweden to join NATO was negotiated bringing more capabilities and a long border with Russia in the Baltic into the picture. The G7 Summit will be seen as setting the framework of close cooperation and understanding of leaders of western and eastern democracies in the world including Africa, Latin America and Asia. Invited were leaders of South Africa, Argentina, India and Indonesia, major parts of the Free World in the 20th century and now into the 21st century. NATO Summit in Madrid adds to these leaders the leaders from Australia and South Korea. The idea here is to address the changing situation in Asia with China's aggressive posture in the Himalayas, the South China Sea, and with Taiwan, and the close cooperation with Russia during its invasion of Ukraine. ...

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Indian oil minister Hardeep Singh Puri says India has diversified its sourcing of oil supplies to avoid dependence on the Straits of Hormuz. It has weeks of reserves. Saudis have 5 million barrel a day pipeline to bypass Hormuz waterway and UAE 1.5 million barrel a day pipeline to bypass Hormuz waterway, so that 6.5 million barrels a day could be added to meet Asian oil demand, in addition to convoys escorted by US warships  in Hormuz waterway to meet demand from China, India and Japan. This would mean China is itself dependent on American seapower to maintain it's oil supplies, a third of which come through the Hormuz waterway and keep important sealanes of navigation open. China, India, Japan, and other World are critical for the world economy manufacturing sector and comprise 3.5  billion or about half of the world's population. In addition Latin America and Africa are dependent on oil supplies and prices.  New pipelines, renewable energy, will become more important in the years ahead, and figure more in planner's minds after this Hormuz episode. ...

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Consider the number 76%. That is how many of the population of Ghana that are at risk of drinking contaminated water. Today March 22 is World Water Day. Ghana is one of Africa's better developed regions, which suggests that much of Africa is also at 76%, and it may also be true for much of Asia outside of China and now India with PM Modi's Jal Jeevan Mission, and for Latin America. Nothing could be more vital than water and it shows how little is known outside India of Jal Jeevan and what it does for 1.4 billion people, that it does not get mentioned in UNESCO's report. Behind this is the will and tenacity and a belief that it can be done that clean tap water can reach every household in India once resources are set aside to do it and it is executed on time.

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The G20 declaration from Indonesia says that it "is essential to uphold international law and the multilateral system that safeguards peace and stability." It called the threat of use of nuclear weapons "inadmissable." It said "most members strongly condemned the war in Ukraine." Overall this was a major step forward with meetings between Biden and Xi, Trudeau and Xi of China, and discussions that led to Macron of France announcing his intention to visit China to get China to mediate for peace in Ukraine. It sets the path forward after Covid pandemic for peaceful cooperation in places other than Ukraine and efforts to bring the war in Ukraine to a close. The midterms in the US Congress also set the stage for Mr. Biden to offer a stable US participation after the volatile Trump years in peaceful competition with China, and growth in India, Africa, and other parts of Asia and Latin America.

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Boosting vaccine production for the Indo-Pacific region that includes Bangladesh, Indonesia, Malaysia, Thailand, Philippines, Vietnam with production done through Biological E in Hyderabad will be discussed at the meeting with Biden. Japan will fund the project, and Australia will handle the distribution. This will be part of a followup to a March 12 virtual meeting of Quad leaders. This effort to meet the vaccine supplies challenge for the Asian region covering south east Asia and its population of 600 million will be one of the major outcomes of Quad countries collaboration, making it a peacetime collaboration that supports development in the region without burdening the financial position of any country.  The other part of US- Indian collaboration and Quad collaboration centers on two related themes after healthcare and pandemic. The immediate challenge is to tackle the breakdown in the supply chain for semiconductors. The US and Europe can no longer depend entirely on a supply chain based in Taiwan. The narrowest part of the Taiwan Straits which separates Taiwan from the Chinese mainland is only 81 miles wide, which makes continued dependence on chip production on Taiwan an unreliable option and the need to build a new supply chain for Japan, EU and US. Plans will be made to address this in the talks. The Biden administration has already taken action with Intel Corp making a U turn and bringing chip manufacturing back home to the US with $50 billion investment planned. India and other Asian countries may form additional options for semiconductor manufacturing. The third part of the Quad effort will center on US and Japan ramping up infrastructure building capabilities with India to build infrastructure across Asian countries and in Africa that will be financed in a way that will not have some of the liabilities of the Chinese initiative called Belt and Road. Loans given by Chinese state banks and contracts including manpower from Chinese contractors are now seen as not meeting the needs of Asian and African countries. These loans most of the time cannot be repaid as in Zambia, and other parts of Africa, and in Pakistan, leading to interest accumulating on debt and making future infrastructure development extremely difficult. The use of manpower from China also means no learning curve for infrastructure is formed for local companies and infrastructure comes without new jobs jobs being created.  For most of the period 1900 -1950 the British built Asian and African infrastructure. During the period 1950 onwards the US assumed a major role, as did the Soviets. This changed after belligerent Reagan administration policies and wars in the Middle East sapped the funds that could have gone to infrastructure building that would improved living standards in Asia and Africa. Mr Biden wants to see this change and this is what he meant when he said at the UN General Assembly today- " we want relentless diplomacy to take the place of relentless wars." He means every word of this and the diplomacy is between allies and also adversaries, but mostly with allies such as Japan, the EU and India to build a better world. That he has to do this quickly Biden is aware of that, which is why he said "the next 10 years will determine our future."   ...

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The electricity grid in Africa is being strained by electricity demands of mining companies. Power outages are costing African economies as much as 2% of their GDP according to World Bank estimates. Energy shortages in South Africa are creating blackouts in South Africa and neighboring countries Botswana and Zambia and affecting the mining industry in these countries. South Africa's energy company Eskom is petitioning regulators for a hike of 50% in electricity prices to reduce demand. Shortages of electricity have increased prices of platiinum and other metals in the commodities industry. Mining in South Africa produces 7% of GDP but consumes 17% of the electricity leaving less for domestic consumption and for industry. Eskopm was late in ordering new plants not taking action till 2004. For Africa the total electricity generating capacity of 63 gigawats supplies 770 million people about what Spain generates for 40 million people. And the expression energy poor means that this shortage in urban areas means the rural poor wil have no electricity for decades to come. And in places like energy rich Port Harcourt Nigeria electricity is inconsistent or in dire shortage. An accountant at a construction firm in Dakar, Senegal has to choose between paying his child's school fees or paying for electricity, chooses to pay for electricity as prices have gone up by 88% in 3 years. And rural areas of Africa have little hope of electricity. This is another sign of how adverse effects of huge energy consumption in places like China and the wasteful consumption in the USA affect global energy prices and in turn affect the poorest in Africa. In places where the voices will never be heard. How boom times in some Asian and westen economies can lead to choices like fuel guzzling vehicles and energy wasteful plants in China that reverberate across Africa....

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The threat of climate change is becoming real in China with drought and heat waves. The impact on agriculture is feared as it may affect the autumn crop. For the first time the awareness of climate change is taking on a new urgency, with state media reporting on it with new emphasis. China having to import grain would put pressure on world supplies of foodgrains. It is therefore imperative that China also join in support of keeping Black Sea ports of Ukraine free and able to supply Egypt and North Africa to reduce pressure on world foodgrain markets.  This could also help shorten the war with a return to work on  important goals of climate change, renewing homes and industry for conversion to renewable energy,  restructuring trade so that there is no extreme dependence, and social security, healthcare needs of the Chinese people.

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After the newly elected Mahathir Mohamad government in Malaysia suspended China infrastructure deals on grounds of the high cost, and straightening out Malaysia's finances, months of negotiations took place. The East Coast Rail Link project was renegotiated cutting the cost by one thirds to $10.7 billion or 44 billion ringgit from 65 billion ringgit. The renegotiation is part of an effort by China and countries that have borrowed heavily for infrastructure to provide transparency and improve financial terms for projects. This is to address criticism that the Belt and Road Initiative, which finances the projects under president Xi Jinping's policies, is not trapping countries with unsustainable borrowing and debt. China is now taking the initiative to correct these problems as promised by president Jinping at the conference of leaders from Asia and Africa, and Europe, in April 2017, in Beijing.

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Coalition Against Climate Disinformation at the COP30 Belem Brazil Summit. CAAD says about the state of disinformation-

"Big Carbon's spending and Big Tech's algorithms are preventing us from seeing and hearing one another online. Instead, we're exposed to one lie after another."

The frequent fires and floods all over the world which happen suddenly and quickly show the effects and costs of climate change are real. Actions need to be taken on climate change even as the cost of living crisis and struggles of people in China,India and Africa and in the US and EU have to be considered for access to electricity and for cost of living concerns. Fossil only provides a short term transition to a long term plan for the future based on renewable energy, and the fight for climate change action to be renewed by EU, China, Brazil and India as the US sorts out its own problems with the transition.

 

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As Chancellor Scholz sets anew direction for Germany reminiscent of the days of Adenauer and Brandt following the Berlin Airlift in 1948, two previous chancellors offer a stark contrast. Policies of Gerhard Schroder of the SDP and Angela Merkel of the CDU created some aspects of the situation where China and Russia are able to act in the manner they are acting today. Schroder made CDU policies under Merkel look acceptable even as they actually strengthened the position of both Russia and China in relation to the US. Both Schroder by joining the boards of Russian oil companies and Merkel with her policy towards China integrating German economy with China's, have created a situation where the American and European, Indian and other Asian, Latin American, African views of the free world are being challenged. 

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Violation of international law or tacit approval of drug states and suppression of the election results in Venezuela- position taken by Oxford's Dill and Germany's Steinmeier is itself controversial. Merz's is realistic. For those concerned about international law is it restricted to any particular period? Then the British policy in China supported by the other powers Japan, Russia, Germany and France to suppress the Boxer rebellion in 1901 and expand Treaty ports that forced opium on China in the period 1850 to the 1930's was not just a egregious violation, horrendous violation of basic human rights on a scale unimaginable in modern times. Much of the prosperity of the Netherlands and Britain, France was achieved through such policy in Asia. Yet Oxford's Dill and Steinmeier have chosen not to look at European history and the Empires of Europe in Asia and Africa for 300 years since 1700. By comparison Venezuelan action comes after the great patience of well meaning people, and the silence of elites in the US and Europe about massive migration encouraged by the regime in Venezuela of one third of its population about 9 million people to neighboring countries including the US, and suppression of free elections, complete mismanagement leading to 150% inflation destroying its economy.  It was not only these elites in the US and Europe that were responsible through their silence, but also the Bush and Obama wars in the Middle East which sapped the resources of the United States. Why is this happening when the Venezuelan people are the main benificiaries of the action taken by the US president to send in its military. All oil sales revenue will no longer go to a corrupt "drugs" state but be used to directly help the Venezuelan people achieve a better standard of living, bring down inflation  and invest in modernization, in these unusual circumstance a program run by Bessent at US Treasury. Those who dislike the unconventional but well meaning style of the US president and his occasional poor choice of words, find every opportunity for criticism even ignoring facts and common sense. Under Chavez and Maduro the Venezuelan economy was simply mismanaged to the point of being destroyed and an affluent country reduced to poverty and inflation so bad that one third or 9 milllion people left for neighboring countries. On this Dill at Oxford and Steinmeier have only this to say- it is somebody's else's problem. we will remain silent. Similarly on introducing nuclear weapons in the Middle East -where most nation states have intermittent wars and economic mismanagement for the last 50 years the artificial states from the Ottoman Empire of Syria and Iraq, Libya, Iran, Afghanistan, Pakistan, the Sudan every state impoverished by war and economic mismanagement - Dill at Oxford and Steinmeier in Germany also have only this to say- it is somebody else's problem not ours, we will remain silent. ...

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China, India, Brazil, Mexico, South Africa, Argentina, Saudi Arabia, countries that are part of the G-20 are not part of the G-8. Without the developing countries no real progress can be made on climate change or on emissions control. Climate change was a key focus of this summit in Itlay for the G-8 but with India and China only on the sidelines and acting more as an opposition excluded from the main deliberations the whole climate change agenda had to be shelved. The European countries lose influence in an enlarged summit so the G-8 keeps going along. Sweden holds the rotating Presidency of the EU, so the Swedes are there also. And so is Portugal in away with Manuel Barroso representing the European Commisssion. Except Japan, Asia is not represented, and no country from Africa or Latin America is represented. The European club looks like an anachronism and it is. Merkel and Sarkozy say they know this, but there is too much resistance in Europe to giving up this privilege. When the Guardian reported that Italy may be left out in future meetings of an expanded summit. the Italian press and the Italian prime minister Berlusconi denounced the report. Other countries that lose influence in an expanded arrangement are Canada and Japan. ...

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By preventing serious illness in patients two pills for coronavirus from Pfizer and Merck can change the course of this pandemic. Pfizer will give a royalty free license to Medicines Patent Pool, an organization backed by the United Nations for its coronavirus pill. Merck has also given a royalty free license to Medicines Patent Pool for it pill. This organization will then grant a license for the manufacture of the coronavirus pills to poor developing countries. India is included in the list of countries yet China, Russia and Brazil are excluded for the Pfizer license.  Merck has given Indian generics manufacturers approval to make the pill. This will provide supplies of the pill to 105 developing countries, South Africa will also make the pill to provide it at $10 a course in Africa. Pfizer will begin manufacturing of large quantities in 2022 with 50 million planned for 2022 and 21 million in the first half of 2022. Pfizer pill will be made available in 95 countries. The Merck pill is called Molnupiravir. Pfizer pill is called Paxlovid with 30 pills taken over the course of 5 days. Pfizer pill is effective in studies when given to people who had not been vaccinated. It has to be given within 3-4 days of getting coronavirus confirmed through a test which makes testing critical for its use. ...

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Common sense comes to the German Border with Merz and the national emergency rule at the border, just as has happened under DJT at the US Border. May 8-25 turned back at Germany's borders with 9 European countries about 100 persons- success of national emergency rule at the German Border. This relieves not only pressure on public services in German towns and cities, it also removes a source of anxiety in the people who experienced political divisions and random attacks in public spaces from migrants. It also removes the threats of extreme factions in politics that have used the migrant crisis for exacerbating political divisions. Merkel's policy was not workable from the beginning and based on assumptions that were not correct as Germany and the EU could do more to improve the modernization and improving health and education, industry and agriculture inside Asia, North Africa to help the people in these regions than by taking in migrants. Who has ever suggested migration to Europe or the US  as a solution to the problems of China and India in the 1930's and 1940's, from wars and even famines. The right solutions of decolonization turning back invasions into the 1940's, and providing technology and capital for modernization after 1950 and accelerating this after 2000 have created two modernized nations of 2 billion people. ...