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The prospect for increased consumer spending in China are not as strong as in the US. The increasing cost of living and the general uncertainty following the pandemic and release from covid restrictions mean that the average Chinese person is less inclined to spend. Savings pool is also smaller estimated at savings accumulated of $425 million during the pandemic years 2020-2022 compared to the US savings accumulation of $2.3 trillion in 2020 to 2021. US public also received cash payments which supported spending, and China by comparison had no cash payments.

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Italy's National Reform Plan shows a forecast of GDP contraction in 2012 of 1.2%, up from an earlier forecast. Italy will show a budget deficit of 0.5% of GDP in 2013. Italy's Deputy Economy Minister Vittorio Grilli poitsed out that in structural, cyclically adjusted terms Italy will post a budget surplus of 0.6% of GDP in 2013, that fiscal policy was tightening. This was confirmed by the IMF which said that Italy will achieve structural balance in 2013- which means that if the economy were operating at full potential Italy would have a balanced budget.

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Walter Mead of WSJ offers this view- expect more action from DJT in 2026 not less, than 2025. The president took the US Supreme Court's decision in stride, noting that it lets him do the same thing on tariffs- charge tariffs on countries doing unfair trade with the US- with other tools in trade legislation, just not IIEP rules. On the practical side every country wants to keep its trade agreement with the US said the president- Britain, Japan, South Korea, Germany, China, India. China and India have increased exports in 2025 even with tariffs rules that allow some exemptions. Large trading nations do not want the uncertainty that comes with renegotiating agreements arrived at with much difficulty with the US. This is not mentioned much in the media such as WSJ and NYT which instead  focus on the tariff revenue already collected of $130 billion and its use or refunding. What is relevant is that the purpose of splitting powers beteen the executive branch and the Supreme Court and Congress is preceded to a great extent by the public's ideas about what is fair, of rights of the US to fair trade, and preventing the deindustrialization of US and Europe. Which is why the Supreme Court has tried to tread warily on issue of illegal migrants by millions entering the country, and is trying to tread warily on issue of rebuilding American industry and infrastructure using tariffs to reduce concentration in China and act to restore a fair trading system for the US and the world. ...

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Naomi Osaka emerges as a much improved player in the way she confidently put away Coco Gauff 6-3, 6-2 in the match leading to the quarterfinals with Czech player Muchova at the US Open Tennis in Forest Hills, New York. Osaka took a break from tennis after the pressures and a child led to her needing time for herself. She is back with renewed confidence and athletic ability.

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DW. com looks at the controversial effort of privage equity firms Blackstone and Carlyle to buy stakes in Bundesliga soccer clubs. Approval of 24 of 36 clubs sets out a plan to attract 1 billion euros of funding for digitalization, internationalization, in return for an 8% share of TV rights revenues for a period of 20 years. Experts say any effort to take international preference for the Premier League will be difficult. There is also the 50+1 rule in Germany where the ownership stays with the clubs not investors, so that the ticket prices are affordable for the club fans and the clubs belong to the fan base. For the fans and locals the situation is better without private equity.

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This video report in DW.com shows a Romanian worker shortage of 500,000 workers. During the early postwar period and for many years following that Romanians immigrated to Germany looking for work. Workers from Sri Lanka, India and Pakistan, Philippines are filling the need for foreign workers in the Romanian economy which is growing since it joined the European Union.

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German defense forces Bundeswehr at 182,000 soldiers and 60,000 civilian employees will add 60,000 through voluntary enlistments as more men are willing to consider service in the defense forces. A look at a young man of 27 years enlisting in Erfurt, Germany after working in healthcare administration for 7 years. He says he has benefitted a lot from free education and wants to give back to the country. An internship got him interested and after talking to a friend. Quietly SDP's Boris Pistorius at Defense and CDU's chancellor Merz are changing Germany's Bundeswehr and its capabilities as Germany sees its new role in the European Union.

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DW.com shows amazing pictures of European leaders in a really informal setting Starmer, Meloni  and Macron standing keenly listening around them as Merz and Zelensky are in conversation on a sofa bench, EU's Leyen on a sofa nearby, with many other European leaders, all trying to catch the conversation. One can see this by clicking on original article. It shows the closeness that has developed over the long and weary war years of the EU leaders who have stuck together for the first time speaking with one voice on the issues facing Europe with DJT and the US.

The challenge for Europe- to come up with peacekeeping force as a security guarantee to Ukraine so that it can reach a peace agreement with Russia, bringing a final end to this war and overcoming fears that it would erupt again in another way or form. The Swiss and Austria, Hungary offer to host peace talks.

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NYT Writers Who Show Who We Are series- on Wallace Stegner by A.O. Scott, who chronicled the lives in the West. A favorite of  El Paso born Justice Sandra Day O'Connor. We cite O'Connor because of her individualistic nature and her citing of her favorite passage of Stegner, having herself grown up on a ranch on the New Mexico-Arizona border under a great sky, a big empty space. That exposure, Stegner wrote in that passage makes a man or woman realize how small he or she is in the wide empty expanse, the big country also tells him who he or she is.  We show this as Sandra Day O'Connor like Amy Barrett of Indiana reflects the kind of individualism that Stegner celebrated in the wide open prairies or the western states of Utah, New Mexico, Arizona and California. And with this convictions of their own women who made their own opinions for the Court based on their understanding of the Nation and the Constitution created by Jefferson, Madison, Washington and others. ...

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Average US bills for electricity have gone up by over 10% in about 15 states with some rate hikes over 20%, reports the Washington Post. In New Jersey 21%, Virginai 15%. Higher prices in Utah where renewable energy projects cancellation have drawn criticism from Republican governor Spencer Cox. Higher rates also in Indiana, Ohio and Louisiana. Data centers put up by tech companies are taking up huge amounts of energy pushing up rates. Voters believe these tech companies are not paying their "fair share." There is also no clear idea on whether clean energy is pushing up prices of electricity or whether the cancellation of clean energy projects including the ones that make sense  are pushing up electricity prices, with voters going both ways in their perceptions. With a rapidly shrinking gap between India+ Japan and China, the US can finally put to rest the burdens of conflict such as the 1930's Japanese invasion of China, the war after pearl Harbor in the Pacific, the Korean conflict, and the Vietnam conflict in which America and its people shouldered huge burdens. ...

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By taking action in Venezuela in a way that benefits the Venezuelan people (and similar action in the long run interests of the Iranian people to dedicate most of the resources for development and increase share of oil revenues without discounting and removing sanctions ill effects on economy and quality of life) major new changes can improve quality of life in the world.  Venezuelan production which was 3 million barrels a day has declined to 900,000 without US investment and technological upgrades. With US investment this can be increased to put additional oil supplies on the market lost in the war with Iran and smaller traffic through the Straits of Hormuz. Venezuelan crude is best suited to US refineries which frees up shale oil for export to meet needs of India and Europe. China which had hyper growth through massive oil consumption would reduce its growth rate and its impact on climate change as it adjusts to the loss of 3 million barrels a day it no longer gets from Iran. Slower growth rate in China is good for the climate as it is the hyper growth of China that put the most pressure on climate even as Europe and the US had cut  fossil fuels consumption over the last decade. China made 2 coal plants a week and 95% of all new global coal construction in 2023. India needs additional oil supplies as it increases its growth rate from a much lower point of development (and electricity poverty) than China. By simply settling for normal development compared to hyper development targets( China has reached a point of Oil Fairness Percentage where each country gets to use the same percentage of oil as its population is as a percentage of world population- the number being about 17% for China for both, with the number being 18% for India and it having a shortfall of 12% based on its oil consumption being only 6% of the world total). China can reduce oil and coal consumption reducing pressure on oil prices and absorbing most of the impact from the loss of Iranian oil. China and Russia + (old Soviet territory) Canada, Australia, Brazil, Argentina, make up about 40% of the world's territorial landmass, would be large beneficiaries with improved climatic conditions from burning less coal. They are now highly developed countries and do not need hyper growth which requires China to build 2 coal plants a week and consume excessive amounts of crude oil and coal based on artificially set targets that make no sense by destroying the climate when no child in China lacks electricity to read. Marathon Philipps Valero with over half a million barrels of refining capacity for heavy Venezuelan crude can now put this to use using the imports by US of lower priced (by $9 to Brent crude) Venezuelan crude oil. In a few months of 2025 US has imported 280,000 barrels a day of Venezuelan crude in February 2026 alone some of it going to the large Valero refinery in Port Arthur, Texas. American oil refiners make larger margins using the Venezuelan crude than they make on light crude from shale oil producers in the US. What this does is to increase the supply of crude and refined oil products on the market as the light crude get shipped overseas to India and Europe- including countries like Spain which took in 100,000 barrels a day of shale crude from US in February 2026. ...

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Simon Nixon looks at 2013 as the year that marked a turning point for recovery in the eurozone.

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The shutoff in Russian gas is resulting in additional efforts to increase solar energy in Germany. In 2020 Germany had 10% of its energy come from solar. July 2022 was the third month in a row that solar energy output was at record levels. Photovoltaic systems generated about a fifth of net electricity production. Installed solar power capacity is now at 59 gigawatts in Germany. For 2032 the target is around 250 gigawatts of solar energy, about 4 times what it is now.