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Sandhya Sharma of The Economic Times puts a spotlight on the dominant role of China in global shipping by 2005. In 1980 China had a tiny role in global shipping, with bicycles a dominant form of transportation in Beijing. By 2019 this role had expanded to dominant position in all the largest modern technology container ports with global shipping volume having more than doubled since 2005. Much of this was done by working with major providers of container port technology such as Maersk of Denmark and other European shipping companies, with imported technology playing a critical part. India is starting from basics in its effort to develop its shipping in the Indian Ocean region with its large coastline facing the Suez Canal and the eastern coastline facing Malaysia, Indonesia and Australia. This was evident during the recent "Atman Nirbhar" global shipping meeting in Vizag- the Maritime India Summit 2021. The goal is to make the next decade one of rapid development of the maritime sector to secure India's position in global shipping particularly in the Indian Ocean region. Collaboration with major European technology providers will play a key role in developing container ports to the levels required for India's future role in global shipping. Sharma discusses the visit of premier Boris Johnson in April 2021 to India to forge strong trade ties.  The Indian prime minister held virtual meetings with premiers of Sweden and the Netherlands, two major maritime nations in Northern Europe for stronger trade and technology ties. These ties are part of the broader effort by the US, UK, and European Union countries to forge strong trade and technology ties with India now that it is clear to them that new supply chain will be needed over the next decade as China disengages from that level of its trade ties with Europe, US and India. New global supply chain means new global shipping container ports and global shipping links of India, Vietnam, Malaysia, Indonesia, with the US and Europe. Looking at what happened between sometime in 1995 and 2005, and in 2005 to 2009 when the global financial crisis hit, when China went from a miniscule level of world trade to predominance. And the years of the Obama administration 2008-2016 when this simply continued without any understanding of its implications for both sides, to levels of China's predominance in world shipping that can only be considered as unbelievable. Growing at over 12% through continued use of  imported technology from Europe and the US. Looking back at what happened one sees that this made China over dependent, its economy too intertwined with Europe and the US. This also made the US and Europe over dependent on China in its supply chain. It took the pandemic and the one term Trump administration, the crisis in Hong Kong, the situation in Ladakh and India's norther border, the South China seas and Vietnam,  for both sides to realize this was not in the interest of any of the countries involved.   ...

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India's robust debate as a democracy is of an astonishing size and diversity of opinion. The debate did not diminish when there was one federal party in many states under Indira Gandhi (1970's). It actually increased many times during this period compared to the period under Jawaharlal Nehru (1950's) taking the example of one state Gujarat as an example of what was going on in 18 states of that time. Newspapers in Gujarati such as Jansatta, Gujarat Samachar and others carried on a vigorous debate with opposing points of view to the Indira Gandhi government at the state and federal level of the 1970's. Most people in places like New York and London fail to understand or see the local language newspapers or are totally unaware of their existence, and the debate carried on in their pages. So that they falsely assume what a small group of English language newspapers tell them about the vigor of Indian democratic debate that is truly unmatched anywhere in the world. And in terms of its 22 languages in one nation one could say in the entire history of the world. Swapan Dasgupta in the Times of India gives the staggering number of publications today in 2023- 144,520 publications reaching 386 million people every day. And 392 television news channels . All in 22 languages. To ignore the local languages as if they did not exist is to ignore India as if a billion people did not exist. Or as it is for China to say that everything written in Chinese papers and Chinese news channels did not exist. Dasgupta also points out that one should take Mr. Modi and the BJP out of this as at the national level its a 10 year old phenomenon. Look back from 2010 for the sixty years from 1950 to 2010 and India was as badly misconceived, misrepresented, and misperceived back then. India he says fell from 105th place in Freedom House rankings in 2006 to 140th place in 2013. Mr. Modi only enters the picture after that. Dasgupta points out the small sample for these ratings 150 respondents and the methodology having missed much if not everything that is needed in a robust democratic debate. There is another aspect which is present which is prominent in New York and London and Washington D.C. and that is that non-alignment is not popular.  One has to see the way Adlai Stevenson running against Eisenhower twice in the 1950's very warmly received Jawaharlal Nehru on his visit to the US and compare it with the way the US perceived India under John Foster Dulles after Dwight Eisenhower was elected in 1952 to understand this aspect of American perception. Dulles was facing the Soviet Union and the British under Churchill then Macmillan had an equal disdain for Nehru's non alignment and tilt towards the Soviet Union. These root perceptions did not change with the Kennedy and Johnson administrations, and continued into the 1970's when Nehru's daughter Indira Gandhi was prime minister and continued non alignment.  India's political alignment after the pandemic is anything but non-aligned. It thinks, acts and lives in a way that is similar to the people of the US and Europe. Not even because it chooses to but because of what it is, coming from being part of its ancient path of Vedanta and Buddhist civilization that is the core Asian experience. It also needs to bring 400 million out of poverty and build the next phase of industrialization and modernization that requires fossil fuels in large quantities at lower prices to sustain its rapid growth. Some of it comes from Russia purely as an economic decision during the pandemic. The Biden administration fully supports India in this task of rapidly growth to meet the aspirations of a mostly young population- sourcing fossil fuels from whichever source that makes sense. To become a key part of the US new supply chain that reverses the overconcentration of the supply chain in China. It can only be said then that Freedom House has the peculiar affliction left behind from the John Foster Dulles period, combined with a bit of arrogance in failing to grasp the central fact of India which is its 22 languages forging one nation- a task nowhere seen in the history of the world. ...

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An expected decline in oil prices at the pump in October 2023.

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The owner of Manchester United in an interview with Sky News points out that UK had a population of 58 million in 2000 up now to 67 million in 2025, an increase of 9 million mostly from immigrants, with the burden of benefits putting a large strain on resources, and creating social divisions that detract from addressing serious economic problems and issues. 

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Leaders of North Korea and South Korea, Kim Jong-Un and Moon Jae-in meet on April 27, 2018, at the military demarcation line between North and South Korea.  After handshakes and Mr. Moon stepping onto North Korean soil for a few minutes, Kim Jong-Un visits Seoul for peace talks.  This is a historic moment for the two countries as this is the first time since the Korean War (1950-53) that a North Korean leader has visited the South. No peace treaty was signed after the Korean War. During the period of six decades that followed the Korean War, particularly the period after 1980, the South Korean economy recovered from the war and expanded following the Japanese export model with large conglomerates such as Samsung. The North Korean economy has struggled in the period and North Korea is one of the poorest countries isolated for most of this period like Burma from the rest of the world. The development of nuclear weapons was pursued to prevent any external threats to the government, and decades of sanctions followed with aborted efforts to denuclearize the Korean peninsula. Recent ballistic nuclear tests and the installation of a new anti missile system in South Korea led to tighter sanctions with the cooperation of China. This heightened tensions, followed by the tighter sanctions. Kim Jong Un and the government are looking for ways to win approval in the international community, and find a way out of the tight sanctions. South Korea, Japan and the U.S. government are not sure whether this will lead to any results in denuclearization. The summit with Moon will be followed by a summit between president Trump and Kim Jong Un of North Korea. If a way can be found for the North Korean government and party leaders to transition to acceptance in the international community followed by integration of the North and South's economies over an extended period, there is a possibility that denuclearization could work, because it is to maintain the current government in North Korea that nuclear development was pursued in the North. Ideological conflict is now less of a factor in the conflict between North and South Korea as it was in the early days of the Korean War with the Cold War and Communism's advances in Eastern Europe and Asia the big issue at the time. Today China itself is more of a state run economy under the Communist Party following capitalism with Chinese characteristics than the old Communist model, and ideological conflict is not an issue between the U.S. and Communist run countries. This leaves open the possibility of a solution particularly as at some point just as in the case of Vietnam and the U.S., North Korea could see its future more allied with that of South Korea than with China. That leaves an opening for a timetable of transitional actions plus effective implementation stages, with incentives for the U.S. and Japan to negotiate a settlement. ...

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This WSJ editorial in September 2014 says many of president Obama's statements and decisions on Obama healthcare legislation and implementation, Syria, NSA and privacy, the Middle East, Russia, showed poor judgement. It refers to a piece by Peter Baker in NYT where it is said that Obama mocked how people see him as too professorial, diffident, in a sarcastic statement. The problem says WSJ is that president Obama has poor judgement. Being academically credentialed and quick grasp of subject matter is not the same as having the ability to discern things, instinct and grasp of the essence of the matter. George Bush senior had a long resume and was academically credentialed. By comparison Truman had a short resume and was not academically credentialed or quick with data and analysis. He had something more essential and important- a discerning mind and grasp of the larger picture, as well as listening abilities for exceptional advisors such as General Marshall and Acheson he gathered around him....

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Letters to the Editor from a Congressman (for 18 years), a Quantum Lab at Duke, and a South Carolinan with Wedemayer's example in WSJ on Chinese students at US universities. Most agree that American students deserve the same opportunities. And the Duke Quantum lab seems to say Americans are not also part of the best and brightest and so do not deserve the same opportunities, looking only at his own lab in 2025 not America as a whole, and ignoring the history of science and invention since 1600 where European and American scientists built the Modern World. 

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Simon Wilde of The Times Analysis of a Test cricket series for the Ages, India vs England 2025- showing 10 Key Moments in the Series of 5 Tests over 25 days of cricket. He compares it to Ashes cricket series back to 1981, 2005, and 2023. I would go furhter back to the West Indies Australia series of 1960 which ended up tied, with both sides having the same score down to the last run. It was a series in which Richie Benaud and Gary Sobers played major roles. Siraj has Christiano Ronaldo on his phone screen with the words BELIEVE! as he prepares for the final day's bowling. The catch of Siraj that did not count as he went over the boundary line for Brooks, and the last ball of the match at the Oval that flattened the wicket of Atkinson, the fielding effort of Woakes that cost him a dislocated shoulder and his heroic effort to come out for the 10th wicket when it was painful to run, the burst of sixes and fours knock of Sundar as India went up to 396, and the tense nervousness of the crowd in the final moments, Gill's perplexed face as he arranged the fielding deep at the boundary lines to avoid fours and the final sigh of relief when Siraj bowled out Atkinson- these were the moments that linger in the memory of the final test at the Oval in London. ...

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Comey sends another letter to Congressional committees on Nov. 6, just 2 days before the election, saying that "based on our review we have not changed our conclusions that we expressed in July with respect to Secretary Clinton." Just 9 days prior to the election Comey had written to Congress that the FBI was looking into emails found on the computer of Mr Weiner, estranged husband of Clinton aide Abedin. By doing this Comey had inserted himself and the FBI into the election in a way that was not proper said leaders of both parties. The heavy criticism continued with Vice presidential candidate Kaine, president Obama and Secretary Clinton, seeing this as a blatant political move by Comey, who is a Republican. It is likely to remain a subject of criticism long after the election, say experts.

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Christina Zander provides an exceptionally good report on what holds women back in work and managing positions in Sweden, Norway and Denmark. Even in Norway, Sweden and Denmark, with a more enlightened outlook in gender relations, the number of women who are CEO's for 145 Nordic companies is only 3%. For the U.S. Fortune 500 this is about 5%. Good child care benefits and parental leave laws that promote a fair distribution of child raising responsibilities between men and women are part of the enlightened outlook in Nordic countries. Yet the number of women being promoted to senior positions is limited. Interestingly rules requiring quota for women on Boards of Directors have led to a different situation on Boards- in 2013 41% of the boards at Norway's public companies were women compared to 18% at private limited companies. About 5.8% of general managers at publicly listed companies were women in 2013, 15.1% in private companies. Sandvik's Ms. Einarsson was promoted to a senior position recently. She says the opposite is true, one needs to start not at the top but at the entry level to ensure women are fairly represented. Culture is part of the problem as even in companies with equal male and female employees, the managers are mostly men. Men are seen as more eager to take responsibilities and risks, and are more integrated into networks. Even childcare and paid parental leave can be deceptive. One researcher shows that Swedish women still take the major part of responsibility for children, with 75% of the 480 available days. Women managers and researchers point to the difficulties women face with a full time career or working over 60 hours a week in a management position, and combining this with picking up children from daycare. Sofia Falk is the founder of Wiminvest, which helps companies invest in geting talented women. Her suggestions are that companies offer other incentives instead of more money- an assistant, private child care, grocery shopping, shared management positions, technical solutions to be able to work at home. The CEO of Sandvik, Olof Faxander, is persistent in changing company attitudes- he has raised the proportion of women in management positions to 21% from 9% in 3 years, eventually hoping to reach 33%....

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The first presidential debate with Clinton and Trump is moderated by Lester Holt. The debate included an exchange on Trump's tax returns, policing in inner cities, and national security. The debate was broadcast by all television stations and was watched by over 100 million viewers. Trump made three times the interruptions made by Clinton. The birther issue raised by Trump also came up, and was cited as a "hurtful lie" by Clinton as it persisted long after the birth certificate information was seen by the public. In one exchange Clinton told Trump when he referred to all the infrastructure that had not been built, that one of the reasons was he had not payed taxes.

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Political activism and grassroots efforts- other than street protests - are increasing in eurozone countries facing high unemployment and austerity cuts. The focus is on cleaning up the political system rife with cronyism, corruption and wasteful spending. Brat and Bjork describe one such effort in the town of Torrelodones, Spain, 18 miles from Madrid. Criminal investigations in many Spanish cities have increased public awareness and participation in local government. European Social Survey based in London, reports political activity of this kind in Spain jumped from 27% in 2008 to 39% in 2010. There is an increasing sense that the political elites of the two main parties, the Partido Popular and the Socialists have failed to bring clean government and transparency to Spain. As a result progressives are joining conservatives in an effort to clean up years of wasteful spending, cronyism and corruption in government. The Union for Progress and Democracy, representing an alliance of such groups would win 13% of the vote in a national election, and the ruling conservative Partido Popular would lose half of its support and get only 22.5%, according to independent Spanish polling firm Metroscopia. The new push for transparency is one of the welcome changes at a time of austerity cuts and 27% unemployment in Spain. Many of the perks of public officials such as chaeuffer driven cars and police escorts, contracts for favored few at higher prices, are out in many cities, and accounts made public for scrutiny and change. Transparency International's transparency index shows 33 out of 110 of Spain's biggest cities scoring top grades on the 2012 index, jumping from only one. Following the example of the regional government in Navarra, the central government is drafting the first open-records law. Castilla-La Mancha, the area around Toledo, run by a clean government advocate Maria Dolores de Cospedal from the Partido Popular has taken aggressive steps to clean up the local government and wasteful spending- see the link to Castilla La Mancha. Her long term approach is to clean up government spending and accounts with the idea of preserving spending where it is most needed, in education, healthcare and vital services hit by cuts, an approach being taken in other Spanish cities. ...

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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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Greens, breakfast, workouts as ways to better sleep.

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Raphael Glucksmann is emerging as a surprise for the Socialists just as Macron emerged out of the cabinet of Francois Hollande as leader of En Marche. Socialists and Democrats Alliance is the party group in the EU parliament that represents social democratic parties in Europe that govern in Germany, Denmark, Spain and are prominent in Sweden and France. Melenchon leads an alliance of socialist parties in France but has not done as well with moderates. Raphael Glucksmann is seen as a new voice for Socialists in France in upcoming elections. Migration has shaken up parties in Europe but this may be receding in importance as most of the socialist parties have shifted to strict policies to keep out migrants. This is happening in the US as Mr. Biden has closed the border with Mexico. Climate Change was an issue in elections helping the Greens in the last chancery election. As socialist parties and conservative parties adopt the Greens policies on climate this has reduced support for Greens from the peak in 2020. ...

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U.S. Federal Reserve chairman Bernanke, says the Fed will keep interest rates low till unemployment reaches 6.5%, as long as inflation remains at about 2%. If unemployment reaches 6.5%, and this is because more people are dropping out of the labor market, he will take this into account. If unemployment stays high the Fed indicated in its statement that it would tolerate a higher inflation of 2.5%, as long as the longer term outlook was for inflation to be at 2%. Bernanke said this doesn't mean monetary policy is on autopilot, because the Fed will watch conditions carefully and will leave room for flexibility- keeping an eye out for new asset bubbles that could develop, and monitoring labor market conditions and inflationary pressures and inflation expectations. If inflation falls well below 2%, or unemployment rate falls mainly because of people dropping out of the labor market, the Fed may continue to keep interest rates low. This policy was announced as U.S. fiscal cliff deficit negotiations continued in Dec. 2012 with one scenario being considered by both political parties being going over the Jan. 1 deadline before coming to an agreement. Bernanke pointed to this, saying "this is a major risk factor right now." The Fed's activist policy in economic policy has given financial markets and business a measure of stability not provided by government and Congress. Fed policy is to buy $40 billion of mortgage securities, and $45 billion of long term Treasury securities for each month in 2013. It will fund the purchases by adding reserves to the banking system, which is to say that it will print money to buy more bonds. This is a major decision by the Fed in that the Fed has shied away from unemployment targets in the past. Bernanke described this action as a new"automatic stabilizer" in the U.S. financial system- if unemployment rises investors know this pushes the Fed's interest rate increases further down the road and would drive interest rates down, if unemployment drops sooner than expected, investors anticipating Fed's rate increases would drive long term interest rates up, to keep stable growth....

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Tokyo Electric Power says that a total of 11,125 spent nuclear fuel rod assemblies were stored at the Fukushima nuclear plant. Experts say that this is 4 times as much radioactive material as in the reactor cores combined. Germany and China do not store these spent fuel rods at their nuclear plants for safety reasons. This is the practice in Japan, at Fukushima, and at some U.S. nuclear plants.The storage pools of water needed to keep these fuel rods has leaked because of the earthquake. And there are signs that some fuel rods have begun to melt and release extremely high levels of radiation. Richard Lafey, Jr., is a retired nuclear engineer who supervised General Electric's safety research for the type of reactor used in Fukushima. He says the zirconium cladding of the fuel rods can catch fire if exposed to air for hours, when the storage pool of water is lost. Zirconium, after it catches fire is so hot that its hard to extinguish.

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Trouble BP is having with neglect of Plant and Pipeline Maintenance, Quality Control and Safety related issues. This follows earlier oil spills and a fire at a BP Plant. This particular incident involves severe corrosion and leaks on its Alaska pipeline.

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Edmund Phelps, is 2006 Nobel prize winner and director of the Center on Capitalism and Society at Columbia University. Phelps offers a deep reflection on capitalism and what it is as a system and isn't, from the insights gathered and knowledge accumulated about its workings- conditions in which operates best, and conditions under which it is stressed or fails. It is the actors and overseer's, the public's ignorance about how the system works, the insights about its advantages and its serious hazards if neglected, that lead him to say we need deep reform and re-education. Capitalist systems, he says, are mechanisms by which economies may generate growth in knowledge- with much uncertainty in the process owing to the incompleteness of knowledge- with growth in that knowledge leading to income growth and job satisfaction. The uncertainty can be serious and dangerous if not accounted for, and the knowledge offers opportunities for personal growth, problem solving and exploration. There has been an intellectual failure in developing a wide understanding of its benefits as well as its serious costs if not kept in check, costs that arise from uncertainty and moral issues of proper behaviours if not properly guided. This is an admirable and clear expression of what capitalism is and how it should be understood....

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National parks in the US are overcrowded as people rush to parks as an escape from the pandemic lockdowns and isolation. There are lines for cars in national parks. Some parks close their gates.

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Steinhauser, Walker and Stevis provide an exceptionally good account of the events leading to the March 25, 2013 EU 10 billion euro bailout of Cyprus, with the closing of one bank and the downsizing of another bank. The Cyprus government of president Anastasiades bluffed and lost. That Anastasiades and the Cyprus government would do this in serious negotiations with the finance ministers of Netherlands, Germany, France, the EU, ECB and the IMF at the headquarters in Brussels, in negotiations that ran to midnight on Sunday March 24, 2013, is simply astounding. Charles Dallara representing European bankers tried to do this with German chancellor Merkel at EU headquarters in Brussels during negotiations on Oct. 27, 2011, on an earlier confrontation over bondholder haircuts, bluffed to the last minute and lost. The way Cyprus handled the negotiations surpassed that. Right down to the last hours the Cyprus president waffled- backtracking on earlier agreement to close Cyprus Popular Bank. Calls were made by German finance minister Schauble to Merkel and by French finance minister Muscovici to French president Hollande to give a joint Franco-German response. Finally Anastasiades was told to pack up and leave on Sunday, March 24. The Cyprus government was not defending small depositors as its earlier plan was to tax all deposits at the two largest Cypriot banks 6.875%. Merkel saw this as an error as this would hurt small savers. The final agreement shut down Cyprus Popular Bank but protected insured deposits under 100,000 euros. Another disturbing sign for the ECB and the EU was Cyprus allowing several hundred million dollars to be wired out of the country even though banks were closed and an offical freeze on ouflows existed. A serious mistake in negotiations was when Cyprus finance minister kept EU finance ministers, the IMF and the ECB officials in the dark by not returning calls for 16 hours on Thursday March 25, 2013, while he tried to negotiate a deal in Moscow with Russia's Putin. This destroyed Cyprus's credibility leading to the ECB's warning to cut off liquidity to Cypriot banks which would put the banks into instant bankruptcy. By Friday morning, March 22, 2013, Merkel was angrily briefing her CDU party lawmakers on the negotiations, telling them the Cyprus government and Anastasiades did not get it, that the whole Cyprus model of outsized offshore banking sector- catering mainly to Russian investors - had collapsed. Cyprus unlike any other member of the EU was trying to face down Europe. Negotiations with Greece had been tough and street protests everpresent, yet negotiations went on in a responsible manner and in good faith, something missing here....

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Zweig gives the example of Palm Pilot IPO shares in March 2000, which the parent company 3Com priced at more than 1,350 times net earnings for the Palm shares. He cites George Akerlof, who writes about identity economics, and points to the fact that users of a product can be so fanatically devoted to it so as to drive up the price for an extended period of time. In the case of Palm Pilot its users were fanatically devoted to the product. This appears to be true for Facebook with users who see their identity enhanced as they put up pictures of themselves and share with friends. Over time users may realize that it is their private information that Facebook is using to generate revenue. It also sets up the shares for a sharper reversal over time.

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Under a deal made between Partido Popular of prime minister Mariano Rajoy and the Ciudadanos party in Spain, the ruling party agreed to back measures to tackle corruption and ensure an independent judiciary. Public officials being investigated for corruption will be suspended from office. Selection will be done by members of the judiciary for 12 of the 20 board members previously elected by parliament that appoints judges and prosecutors. Wage subsidies are introduced for low income families and cuts in public spending for health and education are restored under the agreement,  which includes a program of 150 measures. The combined vote of the two parties get it to 169- 137 for the Partido Popular and 32 for Ciudadanos- and with the aid of a Canary Islands party to 170. The Ciudadanos party will not participate in the Partido Popular government but will vote in its favor. This is still short of the 176 votes needed in the 350 seat parliament. Rajoy could have a second term only if the Socialist party allows some members to abstain. As this is uncertain Spain faces the prospect of an election in December 2016. ...

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GST is to India what land sales were for China in its phase of rapid development and accelerated growth. It consolidated capital that could be then invested at the national and state levels on infrastructure, logistics for exports growth, creating a virtuous cycle of capital growth that could finance ever widening scale of development projects from metros, subways, rail, roads, bridges, airports, ports, logistics, tech related improvements. This was done in 2017 through a midnight session of parliament that passed the legislation needed. Years of endless discussion were turned into one session of implementing a single major tax system for India, transparent, digitized with new IT  Infosys playing a key role, and providing the pool of capital that has financed 5 years of development to take India past Britain as the fifth largest economy. Its pace of growth over 11% and accelerating with Maharashtra's GST growing at 24% in 2022-2023 over the prior year suggest that this will play a critical role in giving India a large pool of capital for growth. To be supplemented with foreign investment to make New India as a modernized nation. With an economy that will be exceeded only by the US and should catch up to China over the next 10 years. ...