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LyrArc brings in selected articles from many of the world's top publications.

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WSJ Original article ›
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Young people are having higher cancer rates by 2024 and this is linked to the higher use of alcohol and less fruits and vegetables more processed meat in their diets. Older people are seen as having lower cancer rates by comparison. Rates of gastrointestinal cancer for young people are increasing all over the world. Each generation of young people under 50 has a higher risk than the one before.

Light pollution from cell phones laptops and other devices is also suspected as it disturbs the body's internal clock, the circadian rhythm. Plastics small particles that get into water and air are also suspected.

WSJ Original article ›
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Who is Caludia Sheinbaum, expected to be new president of Mexico? What would a Sheinbaum administration in Mexico look like? What would interaction with the US look like on immigration, the border and the economy? WSJ's Jose Cordoba, Santiago Perez and Steve Fisher try to answer these questions in this detailed report from Mexico City. Sheinbaum was mayor of Mexico City and was environmental chief during Lopez Obrador's term as Mayor of Mexico City. Obrador has remained popular throughout his 6 years as Mexican president with favorable ratings consistently of over 60%. Mexico limits a president to one six year term. Obrador's party Morena derives from Mexico's indigenous culture and reflects Mexico's history in the 20th century of passion for protecting its national assets including the oil industry from foreign domination or influence, and ardently seeks respect for dignity of Mexicans and Mexican culture. Under Obrador Mexico reached a level of living with organized crime gangs after decades of war against these gangs. The US needs support from Mexico for its border policies and control of border. Obrador was a son of a provincial shopkeeper and spent little time outside Mexico.  Sheinbaum sees him as her mentor after work supporting migrant welfare in California with Carlos Imaz, during a period when she finished doctoral work at UC Berkeley and Stanford. Her father was a chemical engineer and her mother a biology professor. Her grandparents were of East European Lithuanian and Bulgarian origin. Sheinbaum says she follows Obrador's principles, yet it will be Claudia that will run the government. Her policies include setting up 100 industrial parks for Mexico's development, and setting up professional police services to control crime throughout Mexico's different states. ...
Wall Street Journal Original article ›
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A food scare for Danone's Dumex baby formula brand in China hurt sales. Danone has decided to swap the Dumex brand for additional stake in China's dairy company Mengniu, for a 12% stake in the company. Danone will focus on ecommerce business in China which has grown rapidly to about 461 million consumers as more baby food products are sold online. About 7% of total sales are from China for Danone. Danone has also decided it will keep the medical nutrition business line because of better future prospects. Earlier Danone sold off its majority stake in a joint venture with Wahaha in China. Business decisions at Danone are made by two executives Mr. Ribaud and Mr. Faber, the CEO. Fresh dairy unit of Danone faces several challenges, including rising price of milk, and margins dropping from 15% in 2010 to 10% in 2014. Fresh Dairy generates over 50% of revenues.
Wall Street Journal Original article ›
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Feldstein, adviser to the Romney campaign, refutes the assertion based on computer models that the Romney Tax Plan of a 20% across the board cut in taxes cannot be paid for by limiting the deductions of high income tax earners. His own analysis based on IRS data, shows taxpayers with adjusted gross incomes of over $100,000 made itemized deductions of $636 billion in 2009. By taxing these deductions at a 30% marginal rate, additional revenue of $191 billion can be raised to pay for the Romney Tax Plan's static revenue loss of $181 billion. A smaller revenue loss of $148 billion is predicted based on increased incomes and taxes from the behavioural effects of lower taxes on earners. He says this was the thinking behind the Reagan tax cuts of 1986 and the Simpson-Bowles commission plan that would generate economic growth by reforming the tax system's distortions.
Wall Street Journal Original article ›
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A year after winning reelection by a large margin, Argentina's president, Mrs. Kirchner, faces a sharp drop in popularity from over 60% to 32%. Problems facing the Argentine economy include slowing growth from the 7% pace from 2003-2011 to about 3% in 2012, and inflation estimated at about 25%. This has cut into purchasing power of workers wages. A general strike by trade unions on Nov. 20, 2012 shut down the capital of Buenos Aires. About half of the population of 41 million live in Buenos Aires. Currency controls imposed to tackle capital flight after the election have hurt support from the middle class. Within the Peronist movement there appears to be a split between the traditional union support and the left representd by Mrs. Kirchner. Argentina depends on trade with Brazil which is the largest buyer of Argentine goods. The slowdown in Brazil has hurt Argentina's economy.
Wall Street Journal Original article ›
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Renault SA sales increased by 3.2% to 2.7 million cars in 2014. Renault does not sell vehicles in the U.S., and it has only a small operation in China. Sales in emerging markets outside of Europe declined from 50% of sales to 46%. Sales in Brazil were up 0.3% and sales in Argentina declined by 40%. Sales in Russia declined. The sales outlook in emerging markets Brazil and Russia is poor for 2015. Renault has been a laggard in China, and plans to make large investments to catch up with competitors. Sales in Europe were significantly better. Sales were 577,601 in France for 2014, an increase of 5.5% over prior year. The most popular model is the Dacia, with sales up 19.1% in 2014 to 511,465, now making up 18.9% of total sales. Renault plans to introduce 5 new models in 2015, and forecasts sales growth of 2%.

Banks Ramp Up Foreclosures

Wall Street Journal Original article ›
LyrArc Article Gist
As moratoriums on foreclosures that were put in place earlier expire at Chase, Wells Fargo, Fannie and Freddie, and other mortgage companies, foreclosure activity has increased. Foreclosure related filings increased by nearly 6%in February from month earlier, and were up nearly 30% from February 2008, according to RealtyTrac. In California notices of trustee sales, which are a precursor to foreclosure sales, climbed more than 80% to 33,178 in March from February, according to ForeclosureRada.com and the Field Check Group. The increase reflects both the expiration of foreclosure moratoriums and a California law made late last year that temporarily delayed default and foreclosure notices. As aresult Ronald Temple, co-director of research at Lazard Asset Management, expects that home prices will decline by 22% to 27% from their January levels. Over 2.1 million homes will be lost in 2009 in foreclosure according to Moody's Economy.com, up from 1.7 million in 2008.
Washington Post Original article ›
LyrArc Article Gist
Efforts by the Obama administration to persuade the credit ratings agencies not to downgrade the credit ratings on U.S. Treasury securities. As deficit reduction talks stalled in July 2011 credit ratings agencies considered a downgrade. John Chambers of S&P says political leaders must agree to reduce the deficit by $4 trillion over 10 years to be sure there will be no downgrade. Cuts less than that could lead to a downgrade, according to S&P.
The Indian Express Original article ›
LyrArc Article Gist
Hardeep Puri writes in the Indian Express that one of the biggest problems in development in India was that government programs for development just kept getting delayed, and there were leakages of funds that could never be tracked. It is the sign of a developing country that it remain perpetually a developing country when it does not find a way to overcome this situation. Most of Asia, Japan, South Korea, China has found a way out, and it is a sign of character in a country and its administration that real implementation takes place to transform a developing country into a modern country organizing and combining the inputs of land, capital, technology and human resources. Just one example is the Pradhan Mantri Awas Yojana to build housing in India's cities to promote quality of living. In the last 7 years Puri writes in the Indian Express that 11.2 million houses were sanctioned, 4.9 million built and the rest to be built by March 2022. Compared to 1.2 million in the prior 10 years. To do this investment jumped by about 10 times. In the US infrastructure was neglected in the last 2 decades. In India urban infrastructure was delayed by never ending delays and leakages of funds. Across a range of projects from Metro urban transport to rail, bridges and road, infrastructure was slow and wobbly in India for most of the decades since 1947. The Smart Cities Mission is being financed with an investment planned of Rupees 2 trillion or over $200 billion to change the urban landscape with people centred priorities. As Puri writes silently, non performers are being weeded out, loopholes plugged, targets set, in scrutiny and monitoring of projects all the way to the prime minister in a way that has never happened before. There is relentless focus on monitoring the missions, problems to overcome, targets and dates of completion. Bringing to life a new national character and spirit for India during the pandemic. ...
dw.com Original article ›
LyrArc Article Gist
Japan's acute shortage of labor has even spread to the government sector says this report in DW.com. Japan's aging population means a growing need for immigrants from Vietnam and other countries. Nursing, elderly care had shortages which have spread to construction and delivery business, taxis, forestry companies and train operators. Many jobs remain unfilled. It is a situation the US may also experience in a few years as it is feeling the effects of shortages of workers in industries such as hospitality. NK Logisitics Research estimate is that 34% of goods will remain undelivered by 2030 because of lack of transport workers, that is 940 million tons of goods undelivered every year. Already taxi drivers have shrunk by 40% from the peak in 2009. Japan's immigration policy planned for an influx of 345,000 skilled workers over 5 years in 2019 but this came a bit late as the pandemic delayed the influx. Now it has a new urgency. Even with the influx of new immigrants Germany has 1.6 million jobs unfilled according to DW.com citing research in an accompanying article on German workers in today's Lyrarc.com. The US needs an organized program of immigration to attract foreign workers yet the influx from Venezuela of mostly middle class educated people into the US through  events no one had foreseen or expected may years from now be seen as meeting the needs of sectors in the American economy that needs good workers, in the same way that Japan and Germany see their economies and worker shortages. ...
Wall Street Journal Original article ›
LyrArc Article Gist
Chrysler will fill a big gap in its product line with a high fuel efficiency compact sedan developed using Fiat technology. It will be marketed under the Dodge brand name and will be produced at a plant in Illinois. This compact will have over 40 mpg fuel efficiency.
Wall Street Journal Original article ›
LyrArc Article Gist
Over the last 10 years from 31,000 employees in 1999 Microsoft has grown to 91,000 employees. Now with IT spending declining Microsoft is considering work force reductions across all of its divisions. A figure that has been mentioned recently of 15,000 position cuts would be 16% workforce reduction.
New York Times Original article ›
LyrArc Article Gist
Landon Thomas points out an important fact as Greece faces a decision whether to exit the euro and return to the drachma. Removing the interest payments to creditors (French, German and other banks) would result in closing the budget deficit in Greece. When these interest payments on a huge debt load are taken out, Greece would have a budget surplus of 1.5% of GDP compared with a budget deficit of 8% of GDP when interest payments are continued. The experience of Argentina suggests the immediate impact would be painful, but the devaluation in the currency of over 50% from what it is today would return Greece to growth. The alternative under the present plan is to leave Greece burdened with a decade of austerity cuts and a shrinking economy.
Wall Street Journal Original article ›
LyrArc Article Gist
Chile's experience in Latin America stands out for the painful experience of the dictatorship years and the mismanagement of the economy by the government preceding it. The governments of the last 20 years of the Concertacion have studied the mistakes of these years and corrected them to aremarkable degree, like no other country in Latin America. The new politicians decided that the economy had to be managed so that inflation was under control and these Concertacion administrations produced budget surpluses in all but 4 years says Finance Minister Velasco. Velasco himself was 13 years old when the dictatorship of Augusto Pinochet was set up, and his father a law professor had to leave the country for criticizing human rights abuses. He studied economics at Columbia University, and his principal focus there was he says, " to understand how did this happen to Chile and how do we make sure it will nhot happen again." His finding was that runaway inflation had created so much unrest among the people that coup plots could take place, and that political stability could not be maintained without good management of the economy. It also meant that Chile must avoid extremes, try to take amoderate position, which meant preserving the free market reforms that had taken place, and introducing policy measures, projects and investment which helped to bring up the vast majority of the people including the least well off of society. Velasco also studied the history of Latin American economies with their boom and bust cycle, the situation in countries especially Argentina and sometimes in Brazil and other countries since the fifties. He found as he says that when " a country seems very creditworthy, everyone wants to lend to you, capital flows in and consumption booms." At some point excessive amounts of capital flow in which cannot be absorbed and is wasted in unproductive ways, which becomes adebt burden as the bust part of the cycle takes hold. So Chile has been careful to control speculative inflows of capital. But Velaco went further. In 2006 he left a Professorship at Harvard University to become finance minister of Chile under President Ms. Bachelet. Copper prices were surging and Velasco insisted on caution. In 2006 he pushed through a law requiring the annual budget to be based on an independedt committtee's estimate of the average price of copper in the next 10 years. Any copper income above the budgeted price goes into a savings fund maintained outside the country. In 2007 the copper price used in the calculation was $1.21 a pound, while the market price was $3.23 a pound. The profits $6 billion for 2007 went into the rainy day fund, which is invested conservatively in government bonds or money market instruments denominated in dollars, euros and yen. This fund is now at$20 billion. What is remarkable for Velasco is the way this was executed. The price used was conservative, the political pressures from unions and students and other groups was resisted effectively, and the whole exercize was carried out to successful conclusion even as popular support for the government dropped. When the crisi hit in December 2007 copper prices plummeted. Velasco announced a stimulus package, getting the $4 billion stimulus package through both Houses of Congress in January 2009. Chile expects only adrop of 0.5% in GDP in 2009 year over year. $500 million was given to stae owned bank BancoEstado, which reduced consumer lending rates by half. The package offers subsidies for businesses to hire younger workers, $700 million for large infrastructure program designed to create 60,000 jobs in road paving, airport upgrades and housing construction. And 1.7 million families, the poorest 40% of the population received cash stipends from the government equivalent to $70, with another stipend due in August....
Wall Street Journal Original article ›
LyrArc Article Gist
Ann Lee a former investment banker and now adjunct Professor at New York University, gives us facts that show the smaller banks that lend to small and medium sized businesses in the country are being closed by the FDIC. According to ADP small business that employs between 1 to 49 people, accounts for 48 million jobs, those between 50 and 499 employees account for 42 million jobs, and large business for only 17 million jobs. Without access to capital these small and medium sized businesses will continue to layoff employees, creating a vicious cycle of falling credit and demand. According to Automatic Data Processing's August employment report large business shed 60,000 jobs, medium sized business 116,000 jobs and small businesses shed 122,000 jobs. These smaller banks says Lee have done most of the lending to small and medium sized businesses. And overall lending has dropped from pre-crisis levels. Treasury's Capital Purchase Monthly Lending Report shows that banks that received government money actually reduced loan balance by $54 billion. According to reports issued by major credit rating agencies $700 billion of asset backed securities were underwitten in 2007. In 2009 only $10 billion was issued. This has a significant impact in every area. Banks have no incentive to lend with all the bad nonperforming loans on their books. They only hope that over time renegotiated loan terms would enable to recover these loans. But this might take a decade says Lee, if this is similiar to other crises like the one in Japan. She says what the banks do to make money is to borrow virtually unlimited amounts from the Fed at near zero rates and earn money from the spread when they lend to the Treasury. Does our current banking system make sense she asks. Banks are not investing in economic activity, in real products and services,but engaged in agovernment backed shell game that enriches bankers at the expense of everyone else. She says that the banking lobby may prevail in preventing the nationalization of the banking system, but this will not prevent questions about the status quo and its assumptions from arising if the recovery and regulatory reforms fail. ...
YouTube Original article ›
LyrArc Article Gist
Indian PM's address to the Rajya Sabha (upper house of parliament) in February 2024. The prime minister covers the changes that have happened in the last decade to lift 250 million out of poverty and the plans for the future for Vikshit Bharat, Developed India. He covers the long period after 1947 when after over 60 years the economy had stalled by 2014. India was not able to break free from underdevelopment and lacked the investment effort the country desperately needed. He gives the example of public sector corporations that were left to languish as loss making enterprises. Projects were not completed on time and suffered from mismanagement and leakages.The PM says in that period if one rupee left the nation's treasury in New Delhi only a small fraction reached the needy because of leakages in the system. British laws were left on the books and the nation suffered from a colonial period mindset about what India could or could not achieve. The Indian Budget was put out at 5pm last day of February till 1999 because this was the time the British budget was put out. The PM says India was barely able to reach No. 11 in the size of its economy in that period. In a decade the economy is now No.5 today, and plans to be the third largest by 2030, transformed into a modern economy for 1.4 billion people.  ...
The Hindu Original article ›
LyrArc Article Gist
The 14th edition of Aero India from Feb 13-17, 2023 with 80 countries participating. India has increased defense exports 8 times over 5 years. During G-20 meetings in India the country will showcase 3 D's - Democracy, Development and Diversity, says Rajnath Singh.

Wall Street Journal Original article ›
LyrArc Article Gist
The Romney plan calls for putting a cap on federal spending at 20% of GDP. It is now over 23% of GDP. The Huntsman plan calls for lowering taxes for corporations and individuals, and eliminating taxes on capital gains and dividends. This would be offset in the Huntsman plan by closing the mortgage deduction for loans over $500,000, and ending the child tax credit and other tax expenditures as recommended by the Bowles-Simpson Commission. Rep Bachmann and Governor Perry call for eliminating the taxes on American companies repatriating revenues from overseas back to the U.S.
New York Times Original article ›
LyrArc Article Gist
Olivier Blanchard, chief economist of the IMF says that as government borrowing around the world surges, interest rates will go up. Governments borrow by selling bonds to investors, and to attract investors the government competes with stock and corporate bond markets for investor's money, leading to rising yields for investors. As the confidence has returned to corporate bond markets this is already happening. From the end of 2008. the yield on the benchmark 10 year Treasury note has increased by one and ahalf percentage points, rising to 3.54% from 2%, the sharpest upward movement in 15 years. In Germany the yield on German 10 year bonds has also risen, rising to 3.57% from 2.93%. Similiarly British bond yields have risen to 3.78% from 3.41%. Congressional Budget Office estimates are that net government debt for the USA will rise to 65% of GDP at the end of fiscal 2010, from 41% at the end of fiscal 2008. In 2009 and 2010 the US government will sell $5 trillion in new debt, according to Citigroup. A decade from now the government's outstanding debt could equal 82% of GDP, or about $17 trillion. Every one point rise in interest rates costs the Treasury $50 billion annually over a few years, and Kenneth Rogoff estimates that this could reach $170 billion annually if the average yield on 10 year Treasury note goes up to 4.7%, as the Congressional Budget Office estimates. This will dampen the effects of stimulus spending. It is a big issue says Rogoff. A year ago under old policy and assumptions before the financial crisis the Congressional Budget Office projected outstanding debt at $5.3 trillion in 10 years. Now the estimate is $17 trillion, which is triple the old number and an increase of $11 trillion. A recovering economy would make these numbers less relevant. But with struggling industries like autos and banks needing more help from the government, and with consumers having to reduce a mountain of debt, a weak economy for a long time and small growth for a decade would make this a story that won't go away. Rogoff says its like what happened to the subprime borrowers, people assuming that the funding is always going to be there. In 2009 and 2010 Citigroup says, the Euro zone countries will sell nearly 1.6 trillion euros or $2.6 trillion in new debt, and Britain will offer 490 billion pounds or $799 billion in new debt. Over the next decade this would slow Europe's recovery and prolong the downturn. Britain faces a bigger problem in the near term as Britain's governmetn debt equals 55% of GDP, and Standard and Poors estimates it could approach 100% by 2013. South America and Eastern Europe will also face the situation of rising rates. Asian countries like China with lower levels of debt are in a better situation, IMF's Blanchard says....
WSJ Original article ›
LyrArc Article Gist
Greg Ip in the WSJ says India is shifting towards  becoming an important partner with the US and the European Union in trade under the Modi government. This report reflects the situation upto 2021 and the changes in Indian and American perceptions during the pandemic. It does not reflect the rapidly evolving situation under president Biden.US president Biden and Jake Sullivan National Security Advisor see rapidly expanding US trade and investment in India. The recent Raisina Dialogue  brings together 26 countries- named after Raisina Hill in New Delhi where India's administration is located- in dialogue with Indian leaders. Finance Minister Sitharaman in an interview at Raisina Dialogue stated that Janet Yellen, US Treasury Secretary, was with her during a G-20 meeting, and Yellen called for friendshoring- foreign investment in democracies that respect the rule of law and provide the right conditions for investment. The right conditions are now being created in India, including infrastructure and logistics, trade practices, and assistance to foreign companies, to invest in Indian manufacturing. The conditions are being created for shifting significant number of manufacturing facilities to India in a complete redesign of the supply chain. A look at the period 1950-2015 in US-EU India relations says little of the newly evolving situation in trade in the way that looking at the US-EU China relations 1950-1990 during the Cold War would tell one little about how that relationship evolved in trade after 1990 in the 1990-2019 period for massive trade with China. The pandemic and the inflation from existing supply chain bottlenecks has led to a realization in US-EU that the existing concentration of manufacturing in one country  was a mistake and is a serious problem that needs correction.  This means an acceleration in the effort to build rapidly over the next 5-10 years a strong US-EU manufacturing presence in India for advanced technologies. India under prime minister Modi is creating the infrastructure and logistics for this to happen with large domestic investment, the help of Denmark's Maersk in port logistics, and from other countries.  Fo India manufacturing and infrastructure building is the only way to create the jobs needed to meet the aspirations of its young population. For the US-EU the redesign of the supply chain is the highest priority to cut inflation, remove potential bottlenecks, and provide a stable supply chain.    ...
WSJ Original article ›
LyrArc Article Gist
Qatar's sovereign wealth fund supports PSG Paris and Qatar Airways supports Bayern Munich. Barcelona is one of the richest clubs along with PSG but says this report it has wasted a lot of money about $950 million getting players that it later deemed not needed, 30 players for that amount since 2014.This includes Coutinho who scored 2 of the 8 goals of Bayern in the 8-2 Bayern win over Barcelona. Bayern also played with Thiago Alcantara a player released by Barcelona. All the time Barcelona was looking at players to support Messi and making bad decisions. It released Neymar to PSG for $260 million even though it had second thoughts about the merits of that decision, just because of the money. For what you get for the money Bayern got key players for under $120 million to beat Lyon. Manchester city spent $600 million by contrast to put together its team. For Bayern its home grown talent comes from Thomas Muller and Alaba. Lewandowski and Goretzka were signed up. The best talent comes from youngsters Serge Gnabry of France and Alphonso Davies of Canada, for a combined $21 million. PSG also has broken the bank in signings but it has cooled down since and is calmer now. It signed Mbappe for $160 million, a critical piece of the plan for PSG. PSG coach Tuchel brought back Chuopo Moting for free and he was the hero for the win over Atalanta in the closing minutes. Simply an act of faith in his players by Tuchel from old times when Tuchel coached the youth leagues, which he loved doing.  Bayern chairman Rummenigge says "we'll try to save money." Making the best use of money starting with homegrown talent and young promising players is a winning game. At key points in the game with Barcelona, Davies and Coutinho showed the value of this approach. ...
WSJ Original article ›
LyrArc Article Gist
This WSJ report sees Angela Merkel as leaving an international legacy of cooling relations with America. It says Angela Merkel turned down US president Biden's first call after his election as president because she was going to her cottage in the country that weekend. This report says after 4 terms Merkel is to be seen as dramatically increasing her country's economic dependence on China, pushing through a energy deal with Russia, joining France in challenging US political influence in Europe, rejecting American requests on economic policy and setting Berlin's openness to Chinese technology.  What happened with her youthful fascination with America during the years growing up in East Germany asks the WSJ? It also says of the Bush years of unregulated banking leading to the 2009 US banking crisis- that left her with a distaste for Anglo-Saxon banks and Wall Street lobbying. Of the Obama years it says Merkel found Obama unsteady, verbose, and sometimes meddling, with the spying on Merkel's phone also giving her a sense of disrespect to Germany. The result was that Merkel increasingly was fascinated by the Chinese experiment in development, visiting China 13 times while in office, studying Chinese history, politics and economics.  Merkel over this period met with the Dalai Lama and had questions about one party rule by CCP. Yet she became more and more resigned to Germany as a country of 80 million, not the EU and Europe as one group united in vision with a population of about 500 million, larger than America that could be a force for good in its own right. She said "we can be as hardworking, awesome,  as super as we like, but as a country of 80 million we won't be able to prevail if China ever decided that it no longer wants to have good relations with Germany." She ignored the experience of Sweden and Scandinavian countries in their relations with China. In saying this she ignored the potential of India and its neighbors in south-east Asia that make up about 2 billion people or about twice the population of China. She also seemed unaware of the role Woodrow Wilson, FDR, have played in realizing the democratic vision of the German revolutionaries of 1948 who failed to bring democratic government to Germany. And she had forgotten of the role Harry Truman, the commoner president of the US, who played a major role in establishing German democracy and its dignity during the Berlin Crisis after the blockade of Berlin by the Soviets in 1948. The mediocrity of presidents from Bush to Trump has bothered Merkel. Yet it may very well be that there is nothing mediocre about Mr. Biden and America's vision about its future as it grapples with the social and economic problems of the last three decades, as it has done before in its history and come through. ...
BBC News Original article ›
LyrArc Article Gist
The World Vaccine Summit raises about $7 billion to immunize about 300 million children for polio, diphtheria and measles, over 5 years. Prime minister Boris Johnson who opened the summit called it "the greatest shared endeavour of our times." Bill Gates donated $1.6 billion and Britain pledged 1.65 billion pounds over 5 years, making Britain the largest donor. Mr. Trump also addressed the summit in virtual manner- "we will work hard, we will work strong... good luck, let's get the answer." Mr. Johnson called for renewing "the collective resolve."  Specifically he stated: " Just as we have great military alliances like NATO.... where countries collaborate on building their collective military defence, so we now need that sam spirit of collaboration and collective defense agains the common enemy of disease." Referring to failure of early warning systems for coronavirus with crucial weeks between Jan 6 to Feb 16 lost for the West with lack of international cooperation- "It will require a new international effort to cooperate on the surveillance and sharing of information- data is king- that can underpin a global alert system, so we can rapidly identify any future outbreak. And that will mean a rapid scale-up of our global capacity to respond."  ...
Wall Street Journal Original article ›
LyrArc Article Gist
In a Nov. 8 S&P report S&P's estimate for net government debt to GDP ratio for 2013 is over 80%. What S&P will look for in the debt negotiations is for the parties to produce an agreement that will stick and for the debt to GDP ratio to stabilize at close to current levels. Less important is the Jan. 1 deadline for S&P and Moody's according to executives at the credit ratings firms and more important real agreement that lasts.
The Indian Express Original article ›
LyrArc Article Gist
The Indian Express looks at a draft of the National Curriculum Framework of India, which modifies the current system of rote learning and separation of the sciences and engineering from the humanities and liberal arts subjects. The current system leaves the students at secondary level lacking the foundational skills for a modern economy. NCF tries to address this. In line with the multidisciplinary approach taken by the National Education Policy (NEP) for India in 2020, the NCF encourages students to develop multidisciplinary thinking skills by mixing arts subjects and humanities with science subjects and math. The NCF proposal is to assess students in grades 10 through 12 over 4 years and not one board exam every year. This fits in with NEP's vision for a 'holistic" education.  The NEP "envisions a reenergizing and complete overhaul of the higher education system including moving towards a more multidisciplinary undergraduate education." The NCF takes this to the school level. Indian Express points out that combating climate change for instance requires a knowledge of science and manufacturing, but also of politics, sociology, economics, and other disciplines. The significance of humanities in the Fourth Industrial Revolution is shown by many research papers, says this editorial.  To avoid rote studies and memorization instead of critical thinking skills, the NCF sees room for play, activity, discovery and discussion based learning. ...

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