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The smartphone market in Brazil is shifting to the $100-$300 range. Because of higher import taxes and other costs, including paying for the full price upfront, buyers pay about $260 for a Moto G whereas a iPhone 6 would cost $1060. The focus is on the better value for the Moto G compared to the Samsung Galaxy and Apple iPhone in developing countries, where new middle class consumers such as in Brazil may make between $5400 to $27,000 a year. This creates opportunities for such phones with superior value- the Moto G has a 5 inch HD display, a 1.2 GHz Qualcomm pocessor, and an 8 megapixel camera. This has helped Lenovo Motorola Mobility take 18% of the Brazil smartphone market, according to IDC, making the Moto G the best selling smartphone in Brazil.

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The growth in U.S. GDP was 1.7 % in 2011, yet unemployment dropped by 0.7% in the last 12 months to 8.3% by Feb. 2012. A pickup in hiring is seen in job figures. Christina Romer gives as an explanation to the rise in unemployment in 2009 to 10%, more than expected, and the drop since then, to the overreaction of companies to the financial crisis by laying off workers and freezing hiring- with hiring picking up as conditions return to normal levels. The unemployment rate as defined is also not an accurate measure of the jobs situation, as it reflects only workers who are looking for work, and many workers drop out of the jobs market when they are discouraged especially the long term unemployed. Taking into account people who have dropped out of the labor markets the unemployment rate was 11% in Nov. 2009, according to Luce in the Financial Times- in Ezra Klein, Washington Post 12/12/2011, Wonkbook: Real unemployment rate 11%. Lawrence Katz, Harvard Labor economist also cites this as one of three jobs crises in unemployment today that need to be addressed, the other two being: foreclosures and debt, and the low number of jobs added because of automated manufacturing- in Friedman, NYT, 12/10/11, The Next First 100 Days. Explanations for the low GDP growth as unemployment declines is a likely productivity slowdown. Prof. Robert Gordon of Northwestern University, sees a slowdown in productivity. Worker output for every hour worked, how productivity is measured, increased only 0.4% in 2011 and 0.9% in the last 7 quarters, and is trending downward in the longer term. A more likely explanation is that unemployment is still at higher levels but is understated in unemployment figures....

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India's loan for the bullet train project is for 81% of the 1.1 lakh crores cost of project  from the Japan International Cooperation Agency, at 0.1% interest rate for 50 years with 15 year grace period. These are extraordinary terms provided by the Japanese government agency as part of its international aid for development. Mr. Modi said at the time in 2019 during inauguration of the bullet train project that anybody told about the terms of the loan would find it "unbelievable."  At the time prime minister Shinzo Abe of Japan was visiting Ahmedabad. The loans even of a generous nature would be of 30 years and at that period comparable to the higher yield on 30 year Japanese government bonds. Loans of 50 years are practically unheard off. It could be considered very close to direct grant aid by Abe to India. It is also how Abe had faith in Vivekananda's, Gandhi's and Modi's vision for India's development. And the future of Japan and India with Australia and the US as anchors for the free world in the Asian region. ...

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A new review of defense policy undertaken by the British government is outlined in paper, "Global Britain in a Competitive Age." The 100 page report points out that Britain faces a different world situation today and redefines the situation in which nuclear weapons would be used to include biological or chemical weapons attack. It sees the need for Britain to be able to respond to threats of chemical and biological weapons attacks coupled with cyber attacks from countries without nuclear weapons. The report also says other countries "are increasing and diversifying their nuclear arsenals." It identifies a "developing range of technological and doctrinal threats." In response Britain will increase its Trident nuclear warheads to 260 from 180. The report says China presents the "biggest state based threat" to Britain's economic security, and a "systematic challenge" to its prosperity and values. It says China's military modernization and increasing assertiveness in the Pacific region poses "an increasing risk to UK interests." Britain will make more secure its critical infrastructure, including hospitals, power plants and water systems, so that it can confidently trade with China. ...

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A sense that the U.S. and Britain have still not got contact tracing right. Contact tracing is key to controlling the pandemic and letting jobs come back to normal. We've got to get contact tracing right say communities and experts across the U.S.  About 30 per every 100,000 people are needed. but the U.S. has got only a fraction of this. By the time it is organized more people can get infected, and this is a very serious problem. Indiana for instance needs 2000 contact tracers for six million people. With this so disorganized communities are taking up the task themselves. The Mt. Carmel Indian fire department is putting its 171 fire fighters on this job as additional work as contact tracers.States need to take up this task and do this quickly following the German example where speed is what counts and low tech is the way to go, requiring only a computer with a central database and a phone, and most important the good human relations skills to make calling work with people facing a strange formidable virus. Too much time is being wasted on high tech apps. See the German example by searching for "Germany contact tracing." ...

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The Ukraine, Israel and Indo-Pacific aid bills are passed in the House of Representatives with 316-94 vote on April 19, 2024. Vote rule set with support of Democrats made a simple majority vote sufficient to  pass. It was a significant win for both parties as 165 Democrats and 151 Republicans voted for the bills. 55 Republicans and 39 Democrats voted against. It was as Speaker Johnson had said earlier for each Congressman to vote his conscience. Speaker Johnson said it was the best possible bill "we could get under the circumstances." He said if this wasn't done then Democrats would have bypassed Republican leaders and forced their own package of bills through the House. As a nod to the former president $60 billion in aid to Ukraine has $9.5 billion in forgivable economic loans. Overall similar to what Democrats had passed in the Senate over a month earlier. “I hope at the end we can take care of our responsibilities. Ukrainians desperately need lethal aid right now. I mean we can’t allow Vladimir Putin to roll through another country.” - Mike Johnson, Speaker ...

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Senior Republicans Wicker and McConnell both push for the putting pieces of the defense puzzle in place so that American can offer leadership to the world in the 21st century. Biden has put pieces of the puzzle on the economic front, these are the pieces in defense and security. On D-Day 80 senior Republican leader Mitch McConnell cautions against the lethargy of so called left parties and the isolationist tendencies of so called right parties. He says America should put preparedness first, that the better part of valor is to build credible defenses before they are necessary so that American leadership is not doubted further as it has been before. He commends the plan put forward by Roger Wicker in the US Congress Senate Armed Services Committee. The plan calls for raising defense spending to about 5% from 2.9% now over 5-7 years, with $55 billion more in 2025. Wicker says the military has a backlog of $180 billion just for maintenance. For the Navy 357 new ships by 2035, for the Air Force 340 additional fighters. This in light of China's additions and in light of the Russian economy being put into a position for a long term conflict with NATO over Ukraine.  ...

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So many Republican districts jobs depend upon the Clean Energy investments in the Inflation Reduction Act. Kasey Carpenter, Republican of Dalton, Gerogia says- “So much money has been spent building these facilities. The last thing you want to do is get it all built, and then jobs disappear.”  From August 2022 to December 2024 the private company investment in clean energy is four times greater in Republican Congressional districts than in Democratic districts. NYT provides visual graphs showing this. The investments being $118 billion Republican districts vs $35 billion in Democratic districts.These are investments under the Inflation Reduction Act one of the achievements of the Biden administration that are reflected in the strong economy in 2024. This allocation was for $390 billion for Clean Energy over 10 years. A similar situation is happening for the CHIPS and Science Act investments opf the Biden administration. Lael Brainard of the Biden administration says- "They are not going to want to undermine those jobs and those businesses that we know for the first time are really strong in so many districts around the country that have been left behind under trickle-down policies."   ...

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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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High on the agenda for the G-20 Feb. 2013 meeting in Moscow is how to fund infrastructure projects in emerging market countries. About $191 billion in infrastructure investment is needed annually in South Asia alone, according to the World Bank. India's Economic Affairs Secretary, Arvind Mayaram, points to the need for finding innovative ways of funding and reducing the risks for private companies by some kind of joint effort from developed and emerging market countries. The needs are extensive especially in transportation, water, electricity, sanitation. Growth lower than potential is facing India- with estimates of growth at just around 5% for the fiscal year ending in 2013. This affects Europe and the U.S. as there is less demand for exports of developed countries. Transportation projects critical to easing congested overloaded rail lines in Jakarta and Manila could not get financing under existing arrangements, making this problem a serious priority.

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Britain recorded the most deaths in Europe. Brazil and Russia have over 10,000 cases of coronavirus each, and the U.S. records cases close to that in the peak in April. Cases were up worldwide for May 6 to 92,000 with a quarter of these cases or about 24,000 in the U.S. The jump in cases takes the total to 3.77 million with a third of them in the U.S., according to John Hopkins database. Russia and Brazil had a slow start but are now registering large numbers of cases showing that India and other countries with limited testing could face the same situation. Russia has ramped up testing, and so have the U.S. and the UK. Moscow's mayor Sergei Sobyanin says for example that about 300,000 of the 12 million people in Moscow have the virus based on sampling surveys, more than 3 times the confirmed cases. Restrictions remain in place in Moscow beyond May 11.  Countries that were hit earlier by the virus such as Spain and France are reopening gradually after May 11. France will use red and green zones to handle restrictions so that the restrictions are customized to each place in the country. ...

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A Brooklyn, New York resident who created his own job during the pandemic. A neighbor gave him a used bike she was getting rid of. He sold it online for $400. This gave him an idea- he now pulls bikes from garages and barns all over the U.S. and restores them to new. Because of the virus related manufacturing slowdowns for bicycles, and people preferring bikes to trains demand has jumped. U.S. bicycle sales at $2.6 billion up 81% and use of city bicycles up 141% in New York city for Citibike- with single trip pass buyer at 516,000. Mr. Van Scyvoc a 33 year old Brooklyn resident collects bikes around Cleveland where his father a retired firefighter lives and takes them by pickup truck to a bike stand he has at Fort Green park in Brooklyn. There he sells bikes bought for $80 to $250 for $300 to 500. First he has to have them washed clean and then serviced in Brooklyn by an IT engineer who now repairs bikes.

 

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Competition with Phoenix based Mesa's launch of go! airlines in the interisland Haiwaiian market leads Aloha airlines to file for bankruptcy a second time in 2 years.

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The Obama administration denied approval for the TransCanada Keystone pipeline. President Obama made it clear that the decision was made because of the "arbitrary" February approval deadline imposed by Republicans in Congress, and said this "is not a judgement on the merits of the pipeline." The administration suggested that TransCanada reapply. TransCanada CEO Russ Girling says the company is "fully committed to the construction of Keystone XL, and that it "will reapply for a presidential permit and expect a new application would be processed in an expedited manner to allow for an in-service date of late 2014." Experts say the U.S. could reuse some of the studies and analyses and that the process would take 18-24 months. Alberta's premier, Alison Redford, says she believes the project will get approved.

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About 12 million women left the workforce in the US during the pandemic. Women gradually returned to where there are 1.2 million more women in the workforce as of March 2021. In the new workforce remote work is an option for two career couples with children, wages are up, child care is up. WSJ looks at the situation of a 51 year old  mother of two boys ages 10 and 11, whose husband is a surgeon in the military. She quits work during 2021, and restarts work in a remote work job in 2023. Another worker with children decided not to return to the workforce. 

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Germany's state development bank KfW has signed a memorandum of understanding with German energy company RWE AG to build a new LNG terminal at the northern port city of Brunsbuttel. Netherlands infrastructure group Gasunie will operate the new LNG terminal. The Nordstream 2 $11 billion project is now set aside and Germany plans to use the LNG terminals and other sources outside of Russia. Germany commissioned its gas market trading hub to buy LNG of 1.5 billion euros. 

Germany will now fast track another LNG terminal on the North Sea at Wilhelmshaven. That terminal would be operational in 3 years. 

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New York city officials are facing up to the reality that midtown Manhattan, a party of the city that is made up of office commuters, may never be the same. Offices in midtown are attracting about one third of their pre-pandemic workforces. Midtown is home to about 11% of all office inventory in the US, employing 1.6 million workers, a third of all New York city jobs and contributed two thirds of the city's gross product. Before the pandemic three years ago, an estimated 2.6 million worked in the borough of Manhattan, 70% of whom commuted from other parts of the city or suburbs.

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American men took the biggest hit for life expectancy in an Oxford University study, with life expectancy dropping by 2.2 years in 2020. American women life expectancy dropped by 2.65 years. Lithuanian men had a decline of 1.7 years. This is the largest decline going back to the days of the Great Depression in the 1930's

Elsewhere in Europe, life expectancy declined in many countries for the first time since the Second World War. This happened in Spain, Italy, England, Wales and Belgium. Women in 8 countries and men in 11 countries had drops in life expectancy over more than 1 year.