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Janet Yellen, Fed chairwoman, says the financial system is safer now after the financial regulation, stress testing, living wills and other changes that the Federal Reserve has implemented. She says there is no need for a reduction in these key regulatory rules. One of the changes is that banks now use a safer mix of financing- equity financing has doubled for capital, and wholesale borrowing is cut in half, since the 2008 financial crisis that took the U.S. and with it the global financial system to the brink of disaster. The appointment of Randall Quarles to the Fed by the Trump administration was intended to  reduce regulation, and this is Yellen's response to such proposed ideas. 

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Government GDP figures show the GDP shrank by 1.8% in the third quarter of 2016 compared to the same period in 2015, the first such contraction in the economy since 2009. Household consumption was down 3.2%. The sharp decline in the value of the lira by 20% in 2016 makes imports costlier, in an economy dependent on consumption spending and tourism for higher GDP growth. Political uncertainty with instability in Turkey following a crackdown on opposition and media also leads to decline in foreign investment and investment by domestic firms.

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Myanmar's economy shows slower growth in the early period of the Suu Kyi administration. Experts say part of the reason is that the administration has slowed investment in petroleum and mining and pushed it in favor of other areas to diversify the economy. The inexperience of the government is also an issue, as Myanmar needs workplace reforms. The IMF says growth should improve to 7.5% after 6.3% growth in 2016. The government is in office for only about 2 years, and this comes after decades of mismanagement and cronyism under military rule. Another problem is that Suu Kyi is considered a micromanager and is only now delegating matters to experts, some from Australia. In a sign of the sluggish foreign investment the two American companies investing in Burma are Coca Cola and a can making company. The initial enthusiasm for investment has waned. 

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A terrorist attack in Istanbul, Turkey, in Jan. 2015. Most of the people killed and injured are German tourists. The attack targets Turkey's tourism industry.

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This article by Lithuanian president Dalia Grysbauskaite, on the 75th anniversary of the Welles declaration points to a path for other Eastern European countries seeking membership in the new Europe. The declaration by Sumner Welles, acting Secretary of State, on July 23, 1940, stated that the U.S. did not recognize the Soviet occupation of Lithuania, Latvia, Estonia. It says the other Eastern European states such as Ukraine need to follow Lithuania's example to fight corruption, transform their economies, and create a foundation for the future, for integration into the European Union.

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Amazon sales growth was 81% for AWS in the 2nd quarter 2015.

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The personal saving rate of savings as a percentage of disposable income increased from 3.2% in November 2011 and 4% in May 2012, to 4.4% in June 2012. This happens as consumers reduce spending in mid 2012.

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China's limited monetary and fiscal options in 2012, with the housing bubble limiting the option of increasing construction spending to spur growth, and inflation limiting monetary policy. The central bank's decision to reduce the reserve requirement by 0.5% is not expected to do much for economic growth, as there is enough money to lend. The problem is that there is not enough demand for loans in the current environment.

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Miroff describes the situation for Mexico's middle class in the face of rising crime, a deep distrust of the police that extends to neighbors. This is seen through the lives of a middle class family, Alfredo and Lilia Hoyos, in the town of Cuernavaca, 50 miles south of Mexico City. Long known for its quiet neighborhoods, a second home to many civil servants in Mexico City, a university town famous for its language schools, Cuernavaca is now caught up in the struggle with drug gangs and rising crime. The Mexican government sent marines in helicopters to kill drug gang leader Beltran Levya. The level of trust in the police with rising crime is low making the situation worse. In a recent poll, only 6% of respondents said they could trust the police, 40% said "little" or "none." An OECD survey in 2008 showed Mexico at the bottom of the list of 34 countries for citizens expressing trust in their neighbors and community. The drug war has taken a serious toll on trust in the community since then. Hoyas had a difficult time setting up a neighborhood watch for security because people feared to participate. As Mexico modernizes and the middle class expands the situation on this basic parameter of development deteriorates....

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Sony's strategies to return the smartphone business to profitability in 2015. Mr. Totoki, head of the smartphone division, says Sony will accept decline in sales of 20-30% to accomplish this. The smartphone division is seen as critical in the internet era. This means cutting the number of lowend models and scaling down operations in China, where sales are about 3% of the mobile division total. Sales are strong relatively in Europe, South east Asia, and Japan, which provide 34%, 27%, 23% respectively of total mobile division sales.

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Mexico is likely to move ahead with long term deep water oil exploration tenders in 2015, and delay tenders for shale and other oil fields. President Nieto's popularity has dropped to 40%, an all time low, reducing political capital. Other problems are staffing the agency that will put together the bid round, which will take time. The initial bids for 109 exploratory blocks and 60 production fields were earlier planned for 2015. Shallow water fields are likely to go first. Oil companies are expected to be choosier in making investments at the current oil price, yet retain interest in long term deep water oil exploration.

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Issues relaed to tech startups driving up rents in residential neighborhoods of San Francisco, London, Berlin, Stockholm, and other cities.

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Ms. Vallaud Belkacem is Education minister in the Socialist government of president Hollande in France. She grew up as a poor Moroccan immigrant in a poor neighborhood of Abbeville, in northern France. Her husband is Boris Vallaud, deputy chief of staff for president Hollande.