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Wages for factory workers actually declined over the last two decades. Outshoring led to reduced wages in manufacturing. The auto industry crises after 2000 increased this decline. This trend is finally being corrected after the pandemic exposed the risks of a supply chain dependent on unrelaible partners overseas. The Biden administration has also eased the way for unions to win wage increases, similar to the role of the Scholz administration in Germany for German unions to win wage increases. Both presidents say this is important for the dignity of workers and for workers to earn a living wage. The cost of living crisis has further increased the sense that worker incomes have suffered for too long. Germany's transport union negotiated wage increases of 410 euros a month with Deutsche Bahn this week, and the UAW union is negotiating a new wage agreement with Stellantis, Ford and GM.

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Adina Valean, EU commissioner for Transport, is interviewed by the Times of India, during a visit to India. She says India has a critical role to play in manufacturing in the EU aviation supply chain.

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Many people ask how prime minister Modi can maintain a high level of energy while having such a busy schedule. Modi had 20 meetings in 65 hours in his 3 day trip to the US. Many of these meetings were important ones, including one with Quad leaders, meeting with Mr. Biden, his speech at the United Nations, meetings with US CEO's.

Modi drinks a lot of water to stay hydrated. He also tunes his body and sleep cycle to the time zone of the destination. Yoga, exercize, and good nutrition habits, also play a part in Modi's ability to maintain that level of energy. Concentration, discipline, determination, play a part in how he handles work.

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Indian prime minister Modi launches the Master Plan for Indian infrastructure to promote multi modal connectivity and drastically cut logistics costs. This plan brings together under one master plan the plans of 16 ministries of the Indian government, the first time this kind of integrated plan for development has taken place.

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The WSJ looks at Elizabeth Warren's Medicare for All plan that marks a major shift for the U.S. economy.  Households would see their costs go down by $11 trillion, boosting their ability to spend on other goods and services. Because income and wealth was highly skewed in the past three decades in one direction, the spending capacity of lower and middle income households was pushed down. This and other similar plans would help restore a higher level of spending and with it an essential element of inflation of 2-3% to the U.S. economy which was missing in the last decade. This sets the tone for the kind of broad based recovery that happened after 1950 that strengthened America's middle class and made it the core of the economy, the core of the post World War II recovery in America and Europe. The plan would be paid for by higher taxes on corporations, tax rate of 21% for corporations going back up to 35%, and reverse depreciation schedules in the 2017 Republican tax law. The argument that this would reduce business investment does not hold that much says the WSJ because amid new trade tensions business investment has declined over the last 2 quarters, and has been sluggish overall. The other source for the estimated $13 to $20 trillion cost of Medicare for All plan of Elizabeth Warren is a 6% annual wealth tax on billionaires, in an attempt to have all pay their fair share and reduce wide disparities in wealth. Mark Zandl, chief economist of Moody's Analytics, says his sense is at the end of the day from a macroeconomic view- because $11 trillion in the hands of 80% of households who could boost spending after lagging behind in the last decade- the negative effect on business investment will be cancelled out by the higher consumer spending. The overall effect and today's context is infused in this analysis. Private insurance, premiums for insurance, and out of pocket cost that the public pays would disappear in this new system where all health payments pass through the government. Health insurance premiums paid by employers would convert into a new employer Medicare contribution to the government starting at an amount employers pay now and adjusting gradually toward national averages over time. Smallest businesses are exempted. Mr. Zandl says the most important aspect of this now is that Mrs Warren has shown that her plan's revenue sources match the cost so that the plan would not lead to deficits increasing and pushing interest rates higher, leading to negative effects on the economy. Republicans under Mr. Trump have paid little attention to expanded deficits caused by their tax law, and economists across the landscape have also shown less concern. Still attacks are made if the plans don't add up. For this reason a sound assessment in today's context of depressed consumers and an overall impact becomes essential. The WSJ quotes from a pre- assessment of Warren's plan by Simon Johnson, a Massachusetts Institute of Technology economist who co-wrote it with Mr. Zandl and Betsey Stevenson of the University of Michigan. What they point out is that putting cash in the pockets of the lower and middle class for spending makes a lot of sense today, and taking money out of the pockets at the way upper wealthy end,  does not contract the economy at all. Other effects they say are constructive by letting all workers get health coverage from the government instead of employers, this makes it easier to change jobs increasing labor mobility and productivity. A worker getting a better job and better utilization of skills could then shift without looking at the employer health care plan. Warren says there would be a five year transition so that workers in health care insurance industry can work in other insurance fields and in Medicare, no one would be left behind. The important thing being to build America's middle class again. ...

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The view from Germany on Trump's economic plan and the need for changes by his advisors. DW.com's Wenkel says Trump needs to understand that 80% of job losses in recent years have come from not from globalization, but automation and higher productivity, rationalization. He says higher tariffs on Mexico could backfire.

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Seaside warehouses in port cities of the US go into decline with US tariffs of April 2 Liberation Day. this amount of space for logistics of shipping for imports will no longer be needed in Long Beach and Los Angeles, Baltimore and other ports.