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WSJ's reporters Meichtry, L, Pokharel, and Soon look at the extraordinary rise of Gautam Adani through his efforts to develop reclaimed land at Mundra port in the state of Gujarat. Adani who started with a small family owned plastics maker in Ahmedabad developed Mundra port around 2001 with the help of the Modi administration. Modi saw the electricity shortages in Gujarat as an opportunity to tackle India's chronic electricity shortages. Adani's early development of a deep water port at Mundra offered both Modi and Adani the opportunity to tackle the electricity shortages by bringing coal in large ships to Mundra in the way that China was already doing by 2005 in its own efforts at industrialization. So deeply immersed was India under the Congress Raj of licenses and closed economy that India's established business failed to see what China was doing to break into the ranks of industrialized nations. India's first prime minister Nehru had build a command economy where not much happened without government licenses and approval often riddled unwittingly with corruption. Modi needed someone outside the established companies operating under the Congress Raj command economy and with a vision of an India with abundant electricity to take the risks Chinese companies were taking to build an entirely new economy. By 2005 Guangzhou was importing coal with large ships from Indonesia and Australia. State owned companies moved slowly and would take years to develop the port capacity. Using China's example Modi pushed ahead with Adani on a rapid time delivery making Mundra a Special economic Zone and helping to connect Indian Railways to the port of Mundra for coal deliveries. Adani Enterprises built the thermal power plants near Mundra and build electricity transmission lines on a rapid mission mode giving Gujarat abundant electricity supplies and giving Gujarat state in northwestern India a great leap forward in the way China was already doing right in front of everyone's eyes by 2005 with world class ports built at Guangzhou, Shanghai, Shenzen, Hong Kong and logistics connections set with the help of Maersk.  Maersk is now doing the same for modern logistics in India in collaboration with the Modi administration.  Modi and the younger generation of aspirational youth in India see a New India that can break into the ranks of the largest industrialized nations with world class infrastructure in the way China has done, and use new technologies with innovation that will speed up the process in a way that the world has never seen. A quick look at Mundra Port in Wikipedia shows the timeline, It starts in 1998 when Adani Port Ltd was setup and Mundra port work began, 2002 the port integrated with Indian Railways, 2003 when it was made a Special Economic Zone by the Modi government in Gujarat, 2007 when IPO of 40 million shares at price band of around Rs 400 was done.  The Biden administration and the Trump administration support India's efforts to build a new modern economy with a rapid shift to renewable energy. As India is building the ports and logistics with the help of Maersk and other companies in the European Union, president Biden is working with prime minister Modi to build a new supply chain that removes the overconcentration of manufacturing and supply chain logistics in China. This means new ports with the latest technologies in India to handle shipment to the US and the EU. Jake Sullivan set out the goals for president Biden to accomplish this task in meetings with his Indian counterpart Ajit Doval this week on iCERT. President Biden and Republicans, Germany and the EU, see India as a critical part of the Initiative on Critical and Emerging Technologies, and the new supply chain. For the Adani Group the IPO pause offers an opportunity to do what Nirmala Sitharman has done in the Indian Budget this week- build a stable growth path ahead for the long term in line with India's Amrit Kal the next 25 years to centenary of freedom in 2047. Nirmala Sitharaman set a goal of rapid capital spending and investment increasing capital spending in 2023 by 33% in 2023 over 2022, yet maintaining a stable fiscal path by keeping the deficit below 6%. ...

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This report in the WSJ points out that president Trump's much hyped infrastructure plan is not the $1.5 trillion federal spending plan as reported, but more in the range of $200 billion over a decade. This means fixing the crumbling infrastructure in transport, energy and water systems remains uncertain under the Trump administration, and will leave this problem to a future administration to tackle. Jakab cites the basket of 10 infrastructure stocks that lag behind the broader market in Feb. 2018. Further evidence cited is the ratio of four to one of nonfederal money to federal money under the Trump infrastructure plan, and that much of the nonfederal  money has to come from state and local governments than private entities.  Additional problem is that with the tax cut leading to a growing federal budget deficit, rising bond yields would make borrowing more costly for state and local governments.  About $100 billion will be needed for the Highway Trust Fund over the next decade to keep it solvent. Jakab of the WSJ sees overall spending stagnant, with the $100 billion Trump Incentives program for infrastructure offset by cuts elsewhere. Bottom line the revenue side is absent making this more hype than substance for much needed infrastructure spending, that is once again being postponed in America. ...

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House Speaker Paul Ryan's "Confident America" campaign in 2016 aims to reassure the Republican base and build support for Congressional Republicans as the Trump movement disrupts the Republican Party.

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This response by experts on transatlantic relations rejects the other view expressed in Zeit Online that the U.S. under Trump remains estranged from Germany and the EU. These experts from the American Institute for German Contemporary Studies, American German Council, and Centers at John Hopkins and Georgetown for German Studies, reject the view that the Trump administration and Germany are that far apart on many issues as it appears from media coverage.  Foremost it points out that civil society relations are sound and growing. About 50 million Americans trace their descent to Germany, including president Trump, much larger to over half the U.S. population considering European descent. Much larger is the sense of a culturally shared future with the European Union, with the nations of Europe including Germany, France, Italy, Spain, the nations of Eastern Europe, and Britain. The civil society relationships run deep in a way that is hardly affected by the Trump administration. Within the Trump administration the policies to Europe these experts remind the reader, are determined by the "adults" in the administration, who are senior members of the administration. This is a crucial point as Trump administration policy is not determined by the president's liking for tweets as much as by senior cabinet members Tillerson at the State Department, Gen. Mattis at Defense, Kelly at the White House, and senior members of Congress including Senators Corker and other senior committee members. This is why Republican Senator Kay Hutchinson was chosen as Ambassador to NATO. It should be noted in this context of German-EU relations in president Trump's first year that there was a period of German disillusionment with president Obama, exacerbated by the NSA spying on German chancellor Merkel and on the EU delegation to the UN, with president Obama's failure to offer any apology. Relations recovered from that low point. No one suggested that there be a German led decoupling of the EU with America at that low point, or at another low point in German-U.S. relations with the setup of American Pershing II nuclear missiles on German soil under the Reagan administration when there were large scale protests.  The American view that the U.S. should not have to shoulder major responsibilities for defense and foreign relations by itself is not new say these experts, and goes back to earlier administrations before Trump.  The experts argue for an active role by Germany with its partners in Europe for defense and foreign relations, which should not be seen as a result of U.S. pressure, only responding to the situation as it has evolved upto this time. Views on immigration are also changing with effort by the EU and Germany, France, to reduce immigration from the source countries in Africa, and the changing perceptions about uncontrolled immigration in Germany and France, say the authors. A coordinated policy towards Russia  is seen as not having changed. And much as a reset in relations was advocated by Obama in the first year of his first term, the current policy of the Trump administration to work with Russia to lower tensions can be seen in the same way say these experts, and not as a fundamental shift in American policy. The deep relationship of Germany and the EU with China is another positive aspect that will also help the U.S. in framing its own policies towards China. The German-American relationship, and the European Union relationship with the U.S.  is seen as basic to the values and interests of the U.S. and Europe. This relationship is too deep and supported by civil society and Congress, the Republican Party, and the Democratic Party, by large trade relationships, to be affected by temporary differences under any one administration. Even these differences are part of a larger debate that is part of dialogue on issues in a democratic society, sometimes raucous and loud, and could be welcomed and carefully channelled in constructive ways.     ...

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This leader in The Economist reviews an essay in the magazine's October 8-14th, 2016 edition by U.S. president Obama. In it Obama points to the unfinished tasks of his presidency and what comes next as tasks to be done for the U.S. economy. The Economist points out the problems in the 2016 election campaign where there is a lack of discussion of economic issues as a serious problem. Obama lists as priorities efforts to improve conditions of people left out in the recovery, reducing inequality, offering more job opportunities, and increasing productivity.

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Nelson Schwartz of the NYT looks at the town of Neenah, Wisconsin, a year after the election in Wisconsin, Michigan, Pennsylvania with 80,000 votes swinging the other way from blue to red handing the election to Mr. Trump. The pressures are still there with cheaper imports, paper mills about to close, and workers still struggling to keep the same lifestyle as their parents. Even with low unemployment of about 3% in Wisconsin, with the slow increase in wages and corporate pressures for profits, trade wars, the sense is that the problems of the American middle class are still just as deep.

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Damian Paletta of the Washington Post says that credit goes to Gary Cohn a former Goldman Sachs president, and head of the president's National Economic Council for the way he has quietly built up a group of leading experts on major initiatives of the Trump administration such as tax reform, infrastructure plans. Compared to the infighting and other problems in the first 100 days of the Trump presidency, Cohn is credited with building a core of ideas and experts that bring Trump more to the centre and with the prospect of winning Democratic party support. He has helped shift the president to set up a more balanced approach, less confrontational with China and not calling China a currency manipulator, getting support for the Export Import Bank, and more receptive to the Federal Reserve led by Janet Yellen. This report says an alliance of moderates is centering around Adviser Jared Kushner, Cohn, and in other reports Tillerson in foreign affairs is seen as being part of this group. On NAFTA the president has moved to a less confrontational approach with Mexico, which has helped the Mexican peso recover and improved prospects for the Mexican economy.  On infrastructure new ideas to find financing are needed and a plan to tax carbon emissions is intended to draw Democratic support as well as provide some of the funding. About $200 billion in taxpayer money and $800 billion from private investors is being discussed at the National Economic Council. This report says Cohn suffered from dyslexia in childhood, graduated from American University, and joined Goldman Sachs in an unconventional way. He shares a passion for deal making with president Trump, yet at the same time values the views of experts he has brought to formulate concrete plans for the way ahead. About 25 experts with extensive experience in government helped put together new tax changes, infrastructure plans, and international trade deal plans. His predecessor at the NEC, Gene Sperling, gives him credit for quietly pulling together the experts and doing the planning that the Trump administration now depends on. ...

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Kenneth Rogoff, Harvard University economist, author of the well researched book on the 2008 financial crisis, "This Time Is Different," gives his thoughts on the economic prospects for the U.S under the new Trump administration. He says 4% GDP growth and 3% inflation is possible temporarily for a while with stimulus policies, less regulation, and increased private investment. After 8 years of not investing in much needed infrastructure because of concerns about the deficit, the timing is right for such investments, especially as the economic effects of the crisis of 2008 gradually fade.  This is about taking advantage of ultra low interest rates to invest in infrastructure. He says it helps that Trump policies are pro-business. He sees drawbacks as the stimulus program adds a 25% increase with extra debt, adding $5 trillion over 10 years, but adds that for many years Nobel prize winning economist Krugman and others have said that there is good reason to increase borrowing to invest, and this is now being tried. Inflation remains an uncertainty- if there are large quantities of underutilized and unemployed resources it would raise prices less than its effect to increase output. The reverse would apply if the U.S. economy is closer to full capacity. One factor that would help- increasing confidence for business and increasing investment. Against this what he calls optimistic view or spin, is the idea of mistakes under a Trump administration, errors made and a degree of incompetence which he says is a real possibility. Overall his view is that some risks are appropriate now, and from his deep study of financial crises sees the slow growth of the last 8 years a result of a financial crisis that now begins to fade, creating the possibility of higher growth under prudent policies.  ...

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The 2016 primaries with Sanders and Trump have brought to the forefront voter dissatisfaction with the agenda of both parties, especially so for Republicans with the lack of specifics and personality driven campaign of frontrunner Trump. On a whole host of issues from poverty, wages and inequality, regulatory reform, to trade, borders, security, ISIS, both parties are facing questions from voters. Particularly the Republicans who have lacked specifics during the two terms of the Democratic Obama administration with a divided Republican Congress, and the risks for Republicans running for Congress under frontrunners Trump or Cruz who have provided few details on their agenda. The Agenda project of Ryan will have about 25 meetings and prepared specific agenda, including white papers and legislation, that would give Republicans hope to run on positive proposals that are placed before the Republican Convention in Cleveland. Chairmen of House standing committees were assigned 6 areas- health care, taxes, national security, regulatory reform, poverty, and Congress reasserting constitutional authority. Ryan told the Ethics and Public Policy Center on April 19, 2016- "A lot of people don't like conservatism as they know it. For too many people Republicans seem to be caught in a time warp. They're thinking, 'We don't control our borders. Wages are going nowhere. College and healthcare keep getting expensive. ISIS continues to spread. And what are Republicans going to do about it?' So we need to adapt our policies to meet the challenges of the 21st century."...

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A new West Coast Model is emerging with ballot measures in the states of Washington, California and Oregon. The model is to make up for decades of faulty income distribution which favored tech communities in west coast states leaving behind people from minority communities and the working class outside tech hubs such as San Francisco, San Jose and Seattle. During this period budgets for education and healthcare, social services and essential infrastructure suffered as budgets were squeezed for local governments. Minimum wage also lagged behind and communities struggled to keep up. Washington votes for a ballot measure that raises the minimum wage to $13.25 statewide and mandate paid sick leave for workers. In California a ballot measure makes permanent an income tax surcharge on millionaires to use these funds for education. In Oregon measure 97 places a gross receipts tax on corporations with annual sales in Oregon over $25 million, raising $3 billion a year for schools, health care and other programs. The California and Washington measures are likely to pass, Oregon uncertain, say experts. And even in Oregon supporters have learned from the experience to put forward new proposals on the ballot. The Washington measure is supported by Nick Hanauer, and Zach Silk, president of Civic Ventures in Seattle, who say it is essential to put more money in workers wages to increase growth and to bring better lives outside the tech hub areas. Most of the tech booms of the last two decades have not touched the areas outside tech hub metropolitan areas. The conservative approach adopted in Louisiana and Kansas of reducing taxes first and then when holes in state budgets developed to cut education, health and other service expenditures has not worked, and it has led to the backlash in the form of the new West Coast Model, which is expected to be brought up in other states in the east and midwest. The tech hub areas have grown with the boom in tech but this has largely ignored the rural areas, communities just outside of the tech cities, and led to uneven and distorted growth shortchanging the working class and the middle class, and hurting investment in education and healthcare across each state. Bill Whalen, a research fellow at Stanford University's Hoover Institution conservative think tank ,says that its hard to deny that the balanced growth for all communities across the state has lagged far behind as the tech booms boosted growth in the economies of California, Oregon and Washington. An article in the German online site Zeit on Silicon Valley described this vividly showing how this can happen in communities sitting side by side in the San Jose area, with minority Hispanic communities and working class communties seeing very little of the benefits of growth. ...

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Following the events in Charlottesville where a car drove into protesters, president Trump's remarks seemed to equate the actions of white supremacists to protesters. This has led to strong criticism from the business community with most business leaders withdrawing from the president's advisory councils from the business community- the Strategy and Policy Forum,  and Manufacturing Council. This includes the CEO's of Johnson and Johnson, Merck, JP Morgan Chase, GM, GE, 3M, and other companies. In his response president Trump disbanded both councils. JP Morgan Chase CEO Dimon said of the president's remarks- 'Constructive economic and regulatory policies are not enough and will not matter if we do not address the divisions in our country." Members of these councils had hoped to use their presence to have a voice. Yet by August 2017, 6 months into the Trump administration this appears to be changing, with CEO's of many companies expressing the view that the Republican policies favoring business would not matter if the basic consensus on tolerance and openness and what the U.S. stands for is allowed to deteriorate. ...

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With the rushed approach adopted by the Trump administration not enough consideration was given to winning support in the House from 25 conservatives in the Freedom Caucus. Without their support the bill cannot be passed in the House of Representatives. The fight also includes one over what are essential health benefits including whether  maternity care would be included. As a result some moderate Republicans are also expressing opposition on the grounds that less people will be covered and fewer benefits will be provided under the Republican House plan called AHCA. President Trump has not involved himself in the details, and the bill comes very early in the first 100 days, leading to the perception that health care has become a partisan conflict without really grappling with the problems of high cost of health care and creating a solution that all can support. Democrats are seen as having made the same error early in Obama administration's first term. President Trump sees this as a much needed win with a drop in his approval ratings, making this even less of an effort to come out with a good plan.  ...

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At Stuyvesant, the most selective of New York public schools the student body is 74% Asian, 19% WHite, 3% Latino, and 1% African American. Mayor Blasio of New York is using the Discovery Program to limit the entry to the program which accounts for about 5% of the overall admissions to kids from schools that have a poverty rate of 60% or higher instead of to economically disadvantaged children in the city.  Two views are presented here. One that of the New York schools chancellor, Richard Carranza who says "I just don't buy the narrative that any one ethnic group owns admissions to these schools." Mayor Blasio of New York says that only 10% of Black and Latino students get offers from the specialized high schools even though they account for nearly 70% of the city's high school population. The other view is that the state is failing in its secondary schools system because New York state tests show only 47% of the city's third through eighth graders proficient in English and 43% in Math, with the number for Black and Latino students dropping to 34% for English and 25% for Math. This means about half or two thirds of New York state's school children cannot read proficiently and the numbers decline with socioeconomic conditions. Even Mayor Blasio is working at the fringes as the problem is deeper and needs to be fixed at another level than by tweaking which segment of the economically disadvantage children should have access to the best schools such as Stuyvesant.   ...

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Koch describes Trump's statement about Muslims with the notion that 'We'll have them all register' as "monstrous" and "reminiscent of Nazi Germany," in an interview with George Stephanopoulos on ABC News weekly program. Trump is reported to have been open to a database tracking Muslims in the U.S. before backing off, according to WP, which is what Koch referrred to. About Cruz's statement about "carpet bombing" the ISIS group, Koch says he finds it "frightening." He calls both candidates "terrible role models" and agrees with George Stephanopoulos that Hillary could be a better presidential candidate than the two Republicans.

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Currently Asian-Americans make up 62% of students at top high schools in New York. Mayor Blasio aims to give 20% of the seats to students who almost reach the qualifying scores on an entrance exam for Stuyvesant and seven other specialized high schools. Under Blasio's plan Discovery program for economically disadvantaged students would get 800 of the 4000 specialized high school seats for ninth graders in fall 2020 up from 250. 

Another view is presented by Parenting While Black organization of low income parents and children, who say that more important is to improve the quality of education for the city's 1.1 million students and start at the early grades. They see the high school debate for these 7 specialized schools as taking attention from the real problem to focus on s small sliver of students. The mass of students, the vast majority, they say are left to dangle in the wind.

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Paul Ryan says in May 2016 that he will not endorse Donald Trump as the nominee of the Republican party for president of the U.S.

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Senator Mitch McConnell, the U.S. Senate Majority leader, and Speaker Ryan, achieved a win in the U.S. Congress which is expected to set a new trend of bipartisan cooperation, as the House passed the bill in Dec. 2015 for $1.1 trillion spending with a vote of 316 to 113, and the Senate with vote of 65 to 33. The persuasion on the Republican side was based on giving Speaker Ryan a strong hand in negotiations with the White House in 2016. Ryan secured a lifting of the oil export ban for the Republican side in return for flexibility in spending. Ryan deftly sent the issue of Puerto Rico having access to bankruptcy laws to the committe chairmen to come up with a plan in March to get the needed votes. Democrats had pushed for aid to Puerto Rico. Also included in the bill that passed is giving more voice to emerging market countries China and India in the running of the IMF.

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This essay in the Economist magazine describes the voter rejection of ruling parties and their candidates in France. Two presidents and two former prime ministers from the Socialist party and the Republican Party, Hollande and Sarkozy, Valls and Fillon face rejection. And another candidate from the Republican party Juppe also has fared poorly. This leaves two outsiders LePen of the National Front, and Macron a former Economy minister in the Hollande government who launched En Marche as his own movement for moderate change alternative in 2016. The rural-urban and less educated-more educated divide which was evident in voting in the U.S. election and the Brexit referendum is now seen in France, says this essay. Research from the Economist shows National Front support highest in outlying areas of major cities. The fears of immigration, terrorism, and globalization leaving parts of the working class behind are factors in this election. Support for the European Union is also a factor as it has suffered in recent years.     ...

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Peggy Noonan in the WSJ comments on U.S. president Trump's effort to work in a bipartisan way with Democrats on government spending, raising the debt ceiling, and hurricane aid. Noonan says this may not last, because president Trump lacks steadiness or the understanding and depth needed to make it work. A major problem is the eight months of policy wavering moving in different directions, and endless tweets showing a lack of depth, that have alienated many. This has hardened opinion in some ways says Noonan, and is a hurdle to making things work in a bipartisan spirit. Not much is predictable in the Trump administration as lack of steadiness is a singular feature.  Other problems for this bipartisanship to work is that it could alienate the right wing of the Republican party and the Freedom Caucus, as well as the growing left wing of the Democratic party.  In this zany atmosphere things could soon be back where they were.