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The Greek government received 25 billion euros from the European Financial Stability Facility. This money will go to recapitalize Greece's banks. The four largest banks, Piraeus Bank, Alpha Bank, National Bank of Greece, and Eurobank EFG, will get the money by May 25, 2012. About 16% of loans made by Greece's banks in 2011 have soured, compared to 7.7% in 2009, according to the chief economist at Alpha Bank. There is a vicious cycle in effect with depositors withdrawing money and less money availble from bank financing for midsize business leading to businesses closing. The effect is little demand for loans and banking coming to a standstill. For the 8 months to March 2012, an estimated 23 billion euros have been withdrawn by depositors, of this 700 million euros in the period May 6- May 22, after the May 6 elections.

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Us stock market gains of 24% in 2023 are seen as a surprise after fears of Fed tightening leading to a downturn. Instead inflation has come down and with government investment in infrastructure and bringing factories back to the US, boosting US manufacturing, the US is building a stronger economy. A related WSJ article has graphs that show over 50% of US households owning stocks so that the gains in stocks since 2020 are now more widely shared in the US population. Along with wage gains and bringing down the cost of living and moderating housing costs it sets the stage for a recovery of America from the free market experiments that followed after Reagan leading to the 2009 financial crisis, neglect of manufacturing and shipping of factories overseas.

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WSJ Editorial Board looks at the reserves being set aside by banks and oil companies against losses in Russia as the situation in Ukraine worsens in April 2022, and has questions for CEO's that have not made preparations for a similar situation arising in China. Too much is being done on Russia "on the fly." For China 83% of American company CEO's have made no plans for supply chain action for China even after the pandemic hit and after the supply chain chaos from zero covid policies. JPMorgan, Goldman Sachs, and Citigroup have set aside $3.36 billion for Russia, according to Reuters. Shell says it may take charges of $5 billion to write down Russian assets. Exxon will take a similar charge. WSJ Editorial Board says the situation in China with respect to territorial claims on Taiwan are similar, and asks what preparation is being done for China risks. WSJ's Editorial Board says American CEO's should be calculating their supply chain and investment risk now in the event that there is a conflict in Asia. Some of this foreign investment has shifted it says as foreign direct investment as a share of China's GDP is down to 1.2% in 2020 from as high as 4.6% in 2005, according to the World Bank. Much remains to be done. Yet in 2021 despite the supply chain chaos from China's zero covid policies and rising geopolitical plus trade tensions, 83% of American companies operating in China were not considering or were not in the process of relocating their manufacturing or sourcing out of China, according to a recent American Chamber of Commerce in China business-climate survey. A figure that is the same as in 2019, a sign of complacency says the WSJ, one that could be costly, and with Russian write downs today a warning to executives that they should start preparing now for the danger that lies ahead. ...

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Prices of gas for cooking and electricity are up 30% in Brazil in 2021 adding to the pain after the pandemic. Countries in Europe and Canada to Indonesia face much higher prices in 2021. Energy prices have jumped and supply bottlenecks have increased inflation. As more people are vaccinated the return to normal activity is also putting pressure on prices. About 72% of Brazilians have at least one dose of vaccine, higher than in the US. There is less vaccine hesitancy in Latin America and Asia.

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Pakistan's GDP growth is expected to be 4% in 2012, an increase from 2% in 2011. Foreign exchange reserves are up to $18 billion. Repayments in 2015 to the IMF will be a quarter of the payment in 2012, says Finance Minister Abdul Hafeez Shaikh. Tax collections are up 24% for the first 9 months of the fiscal year 2012. Remittances from Pakistanis aborad are up 21% to $9.7 billion and exports up 5.5% over the $25 billion exports for 2011. In an WSJ op-ed, April 16, 2012, Michael Boskin,who helped negotiate the North American Free Trade Agreement for the elder President Bush, says it is time for a free trade agreement between India and Pakistan. Shaikh says he expects to see trade with India up from the insignifcant levels of $2.7 billion in 2012 to $10 billion by 2015. Boskin sees the potential for trade at $50 billion based on trade models. This would help change the landscape in the South Asian region after decades of neglect, strife and conflicts and is long overdue to benefit the billion people on the subcontinent....

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 Biden's kickoff speech for president in 2024- "We've got a lot more work to do." Biden was able to get the US on track for huge investments in infrastructure, chips, climate change, renewable energy, cost of living help, of trillions of dollars. He told a union audience- "Under my predecessor (Mr. Trump), infrastructure week became a punchline. On my watch infrastructure has become a decade headline- a decade headline." (Not much was actually done for infrastructure by Trump.) What Baker in NYT says Biden was not able to do is where Republicans blocked his efforts- to cut student loan debt, for pre-school education assistance, for tuition free community college, for parental leave, and help to workers and families struggling with the cost of living. Biden also helped tackle the period of mass vaccination and exit from the pandemic, and bringing unemployment to below 4%.  Baker has covered 5 presidents for the Washington Post and the NYT. His book on Trump is- The Divider: Trump in the White House 2017-2021.  ...

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The market for oil field equipment is tight with 90% utilization, making it harder for larger oil producers to drill more oil wells for shale oil in the US. Large US shale oil producers reduced production when oil prices plunged and did not come back leaving smaller oil producers to increase production as prices went back up in 2021. Oil prices are now expected to reach $100 per barrel for the first time since 2014.  Saudis and Russia are not expected to increase production say experts. The possible Russian invasion of Ukraine and shortage of energy supplies is also a factor. Oil demand in the US and Europe has rebounded with milder covid-19 from Omicron variant and fewer lockdowns. Automobile use is also up in the US with November showing 12% increase in miles driven over the prior year, according to the Federal Highway Administration. Low inventories and resilient demand, and low spare capacity will keep prices surging to $100 from today's price of Brent crude oil at $89 in January 2022.   ...

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Zweig, Light and Pleven reflect on the experience of the last 5 years in the stock market. Investors who went through severe anxiety for higher investment allocation in stocks in 2009 now feel the opposite for low investment allocation in stocks. What does one make of this, and what have we learned, is the question posed. One lesson is that investors should be wary of relying too much on predictions. At one point predictions of Goldman Sachs and other bank economists was for the S&P at 1250 at the end of 2012, when it was 1421 in April 2012. The eurozone crisis and the sluggish U.S. job growth, debt overhang, were major factors in their assessment. The eurozone recovered faster than expected and the Iranian nuclear crisis risks were reduced through negotiations. QE 1, QE 2, QE 3 by the U.S. Fed under Bernanke provided support to the market. Banks recovered faster than expected with help from the Fed. Another lesson is that this can happen with higher volatility, 900 point drops occured in May 2010 and there were drops in April 2012 and other dates. Zweig gives April 2011 as a date for the start of a 5 month bear market, citing Oct 4, 2011 as another date with the market dropping 21% from the April 2011 peak. Another lesson is that performance statistics can play tricks, a month or a year can make a big difference. If 2013 is not included the statistics look very different, if 5 years go back to Feb 2009 when there was a 11% decline instead of March 2009 when there was a 9% improvement the numbers change quite a bit. Another lesson is that macroeconomic news played a major part in the story of the stock market in 2009-2014 and continues today, with continuing support and vigilance from the U.S. Fed and the ECB. The bad news from the eurozone throughout 2011 and into 2012, and sluggish job markets in the U.S., took a positive turn in 2013. The U.S economy is improving and the eurozone is returning to growth gradually in 2014. Because of different timing in their recovery P/E ratios are higher in the U.S., than in Europe....

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China's plan to lift all birth restrictions by 2025. The one child policy was replaced with a two child policy, and now with a three child policy in 2021, as China's birth rate declined below the level needed for a stable population. The plan now is to lift all restrictions as the decline in population is expected to be very steep. Not enough young people to support a growing elderly population is a major problem for the economy. A mindset has developed over 70 years for one or two children that is seen as hard to change. Women now work and pursue careers, their expectations in life have changed. Couples are also finding it hard to get access to schools and afford the costs of education and home space needed for larger families. Housing in most cities is costly, making it harder to raise families. Attitudes are hard to change. Experts see little impact of the new policies. The three northeastern provinces suffered most in the shift to a market economy. This is where the drop in birthrates is very steep. The government will remove all birth restrictions in the northeast before applying it to the whole of China. ...

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It is not a story that most people grasp or understand- the long term effects of the US immigration surge of 2023 and its source mostly from Venezuela. The  US Congressional Budget Office says labor force in 2033 ten years from now will be larger by 5.2 million people and younger as a result of the immigration surge in 2023 from about 1 million immigrants each year in the 2010's to 3.3 million. About 2.5 million crossed the southwestern border in 2023. Much of it the result of the collapse of the Venezuelan economy and its middle and upper classes leaving the country. This was worsened by the US sanctions on the Maduro government including under president Trump, say experts in an adjoining NYT article on the 7 million people who left Venezuela to go to Colombia, Peru, Ecuador and Chile since 2012, then making their way up the Darien Gap to the US. Something that could have happened under a Republican president if the US Congress could not reach bipartisan agreement on correcting asylum and parole policy. As a result of this surge US Gross Domestic Product  in 2033 will be 3% larger. When the large Asian economies are seeing a aging workforce, Japan for the last decade and China now following Japan, the US labor force will be younger than it would be without this unusual surge in immigration of the last 2 years. The federal deficit will be smaller at 6.4% instead of 7.3% in 2033 as immigrants will pay taxes on income. Another aspect of this larger infusion of immigrants is that after the pandemic shut down immigration entirely there were severe shortages in the hospitality and restaurant, construction, healthcare industries. And with the trillions of dollars in investment that the Biden administration is making with more factories - this will absorb most of the immigrant surge by 2033. With some positive effects in the competition with rising Asian economies China and India. Particularly consider with the younger demographic India of 1.4 billion people. It will mean more factories can be built in the US and there will be workers for these factories in the US at wages that keep the US economy competitive years from now in 2033. This is a sobering aspect of the current situation viewed from what will be seen by America's younger generation. And under the bipartisan compromise in Congress correcting asylum and parole policy that was shut down by the former president, Republican senators understood very well that the immigration surge of 2023 would have some constructive effects for the long term, while its effects on the short term would be mitigated by Biden's commitment to close the border in 2024. This did not happen, yet the future for America's younger generation is bright under the Biden plan for massive investment in manufacturing and jobs in the US, and with the millions of immigrants needed to fill the jobs that investment will create by 2033. It will make America with a younger work force than Europe or China, only India having a younger workforce in 2033. ...

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Germany's parliament, the Bundestag, ratified the fiscal pact agreement of eurozone countries of December 2011 on June 29, 2012. A two thirds majority was needed to approve the pact and the rescue fund called the European Financial Stability Facility or European Stability Mechanism. To get the opposition Social Democrats support chancellor Merkel had to agree to a "growth pact" at the June 2012 EU summit, a condition made by the opposition. Facing persistent German opposition in the negotiations for short term measures to allow the rescue fund to buy Spanish and Italian bonds directly in private markets and give direct aid to Spanish and Italian banks, prime minister Monti of Italy and prime minister Rajoy of Spain as a last resort told chancellor Merkel they would block the EU growth measures. It is at that point that Merkel made the concessions to allow direct aid by the rescue fund. Blocking the growth measures would have blocked the approval of the fiscal pact which Merkel had negotiated in December 2011, as the opposition Social Democrats would then withdraw their support. It is this manouevre that finally achieved a breakthrough in the marathon 14 hour negotations between Mario Monti and Angela Merkel, which Monti described as "hard and tense" but "worth it." ...

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The best US cities for jobs is changing rapidly in 2021 after the spread of coronavirus. Los Angeles, San Francisco, Chicago, Boston lost jobs. Jobs shifted to hubs in the interior of the country as remote work changed the workplace. Salt Lake City in Utah, Austin in Texas, and Denver became new hubs with environments that included mountains, healthier living, quieter lifestyle, lower costs and efforts to attract employers. Tourist spots suffered with Orlando in Florida moving to 47th place in terms of jobs. The US lost 9 million jobs in 2020 changing how the jobs market in cities looks. The WSJ looks at the changes in this report. Tech hubs such as Raleigh in North Carolina, and San Francisco suffered decline as remote work created new opportunities for cities in the interior of the country. By contrast Salt Lake City was growing twice as fast from 2000 to 2017, and has increased in popularity with surrounding areas of Provo and Ogden in Utah. It is now known as Silicon Slopes as it becomes a new tech hub city. The WSJ looks at Salt Lake City in some detail.  ...

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About the title it depends- costs have come down for food made at home and eating at home, it is the cost of eating outside that has doubled from 3% in 1960's the Kennedy years to 5.7% in 2024 as a share of personal disposable income.  Costs of eating at home are now half of what they were in the Kennedy years when they were about 13% of personal disposable income, as shown in USDA data and charts.The American public says in voting preference and other surveys  that inflation is a key concern, food prices  are mentioned as a key concern. Food prices fell by about 8% during the pandemic 2020 and rose quickly by 2022 by 12%.    Eating at home declined from about 13% of personal disposable income in the Kennedy years in 1962 to about 9% in the Reagan era in 1990 and down to 5.7% today. The real culprit in food inflation is people paying higher prices to eat outside at restaurants. In that period obesity has increased and general health has declined by these spending habits and lack of food savy cooking knowledge that not only cuts costs but also makes it possible to eat healthier by controlling intake of the fat, oil, and other poor ingredients by cooking for oneself at home. At home one avoids packaged goods and cooks the food from healthy ingredients. A correction is badly needed and will help not only health but also the family budget. Its a crazy way to do things not to educate children on healthy foods starting early in school, including in designing lunches and gradually increasing interest in making simple items from scratch. And instead to neglect food and food intake ending up with increase in cost plus poorer health outcomes. Hitting not just the family budget, also the nation's budget with higher and higher expenditures on healthcare. American habits need a change to make more at home like mothers and grandmothers in the 1960's and reverse obesity, poor health outcomes. As for the manufacturers of packaged foods President Biden talked recently about shrinkflation putting less in each bag of food at the same price. "The American public is tired of being played for suckers. I've had enough of shrinkflation. It's a ripoff." WSJ looks at food prices in 1991 and other points in the past and today. In 1991 as a percentage of disposable income food was 11.3%, according to Agriculture Department. This was after an inflationary increase in the 1970's. USDA data shows it has reached 11.2% in 2022. The public is responding by eating less outside and making its own granola and other items, and generally buying less that cuts into sales, a healthy trend. This is expected to lead grocery stores and manufacturers to reduce prices in 2024. ...

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The WSJ Editorial Board speaking for the business community traditional Republican groups finally takes up the election on issues of policy difference between Trump run Republican party and Harris run Democratic Party which it should have from Day One. The former president says something that has never happened in the last hundred years- policy will be decided after the election depending on what he decides to do. Cost of Living action is No 1 on voter priorities. "Drill, Baby Drill," is the whole Republican party platform for cost of living action. What is the Harris Democrats policy plan for cost of living action? WSJ says it is spending blowouts that caused inflation, the Green New Deal, entitlement expansions and student loan forgiveness.The real reason for the increase in cost of living comes from the overconcentration of supply chain by American business in China, on which every president Bush, Obama, Trump, did little or nothing. The lack of an effective vaccination program and ineffective vaccines in China by 2021 and 2022 led to the loss of the supplies from China leading to shortages for automobiles parts and other supplies and surge in prices in 2021-2023. Powell and the US central bank correctly raised rates but cautiously and waited for this to correct, president Biden brought manufacturing home through huge investments called the "spending blowout" that brought down the inflation from 9% to 3%. Some of that "spending blowout" went to chips and science to correct the errors of American Business and Reagan-Friedman theory of the Republican party that created this problem with a culture of utter  indifference to the ultimate costs of who makes what and where. The Inflation Reduction Act also tackled higher health and other costs paid by American workers and families, and invested in public services and in repairing the dilapidated crumbling American infrastructure. Are Republicans saying let the roads, bridges, airports, built in the 1940-1960's heyday of American industrialization as China and India's is now, let them crumble? What do the educated minds of the WSJ Board say about coal in China and India and their effects on their massive use multiple times that of US and EU in history, is it not damaging to the environment and why the Chinese realized the health in North China with coal winter use was worse than in South China cut their coal use. Are they saying lets burn fossil fuels and ignore, and if investment has to be made in solar who is going to do it? Is it Ok for Republicans thet we just import from China all our solar panels indefinitely into the future. "Green New Deal" is just a perjorative term, policy has to be made thoughtfully and without prejudice or bias of any sort for the best that we can do for the American people, ignoring so called "right" or "left." Doing what is right, what makes sense, is a lot harder.     ...

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Over 50% of respondents in the 2012 Gallup poll view Japan as the U.S.'s most important partner in Asia, compared to 39% for China. The shift in how Americans view China is pronounced in the last 3 years. In 2010 the two countries were tied 44%-44%. In 2011 China was 39% to Japan's 31%. In 2011 India, S. Korea and Australia were added to the poll as partners. Among "opinion leaders" such as business executives, government officials, academics and journalists, China gets 54% to Japan's 40%. The poll is conducted by Gallup for the Ministry of Foreign Affairs of Japan since the 1960's. The analysis shows that respondents picked China for economic reasons not for political reasons. A survey of the general population shows 84% view Japan as a dependable ally, up 2% froom 2011, with similiar trend for opinion leaders.

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A study by Blanchard and Bernanke shows energy prices and supply chain constraints were key factors in creating the surge in inflation that happened in 2022. The Ukraine war played apart in raising energy prices . How much effect did president Biden's $1.6 trillion American Rescue Plan have on inflation? Bernanke and Blanchard say not what critics had suggested. Once energy prices were brought under control through the president's policies to $75 energy prices played less of a role in inflation. Supply chain effects also eased throughout 2022. The persistent effect remained the mismatch between supply and demand that is called The Great Resignation that came as a response from teachers, nurses, hospitality sector workers with low minimum wage on which it was hard to make a living. President Biden's payments to these workers gave them enough room to make a definite choice that they would not take the risks during the pandemic and the stress and opted for shifting to other jobs. Employers struggled to fill vacancies and raised wages in response. To reduce inflation the Fed opted to raise rates to slow the demand for goods and services in the economy which has led to a moderating of inflation from the high of 7% in 2022 to falling below 5% by April 2023. Fed chairman Powell's aggressive attitude to inflation was based on not letting an inflationary psychology set in, that could damage the interests of workers and families who had already suffered from the pandemic's effects. This is where we are today as the economy adjusts to the fight against climate change, investments in renewable energy and infrastructure, and efforts to reduce the deficit by president Biden in a way that reduces the widening gaps and social divisions in society.   ...

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WSJ poll in January 2025 shows DJT has the support of the American people to make changes and at the same time not enough support for major changes the president elect has promised to make. Deport all migrants with criminal records 75% support. On large scale deportation of migrants 70% disapprove deporting long time residents who have no criminal records. Does this long time resident mean people who are here before 2021 when for the first time migrants reached 200,000 in mid year 2021 exceeding the 150,000 peak in DJT's first term, is not made clear by this report on the WSJ poll. This is the point mid 2021 when Biden was supposed to have removed Mayorkas as Homeland Secretary and come up with new legislation with Republicans to close the border before a surge.  Ending birthright citizenship- 64% disapprove 31% approve. Set tariffs on all foreign goods- 48% approve 46% disapprove Eliminating programs for healthcare, education, social safety net- 60% disapprove 34% approve. Eliminate the Department of Education, and eliminate replace career civil service officers- 60% disapprove. ...

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He is one of the authors of chapters in Project 2025. He is also the deputy OMB director in the first term of DJT 2016-2020, and someone with a great deal of experience in running the Office of Management and the Budget. He is for the Republican line of cuts to the Budget to maintain the deficit within reasonable limits. Yet with the need for investment in the country for growth and to support income growth for workers and families there is no monolithic position in the Republican party. Much of Biden infrastructure investments have supported growth and fill need for restoring aging dilapidated American infrastructure and has gone to southern states and mountain states mostly Republican. MAGA as its Biden counterpart is also about infrastructure investment and rebuilding America through investment. Under DJT it is also about spending these dollars wisely, efficiently and with due oversight which is also an imperative. The difference with the European Union with near zero growth in 2024-2025 and the 2.7% growth in the US is this willingness to take some risks and invest to rebuild the Nation under Biden + MAGA. ...

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China ramps up coal production to record levels in 2021 to avoid a winter gas crisis, reversing earlier actions for climate change.

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Justin Lahart points out that concealed in the good profit performance of Ford Motor for the third quarter 2012 is a cause for concern. Ford market share of light vehicle sales in the U.S. market declined to 15.3% in the first 9 months of 2012 from 16.6% in 2011, according to WardsAuto. Ford's quality in the Consumer Reports' annual reliability survey shows Ford ranking 27th of 28 brands.

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This report on Danish wind energy company Orsted, looks at the journey of the largest developer of wind energy in the world from a company sending natural gas from North Sea to Europe to a joint developer with Denmark's Vestas of offshore wind farms. Last year Orsted, pronounced Ehrr-sted in Danish for the O and named after a Danish scientist, decided to invest $57 billion in offshore wind farms by 2027. It was not easy and the path required a bold vision and bold action to invest in wind energy for the long term even as debt piled up from losses in natural gas competing with coal, climate change committments were not yet strong, subsidies were required to make wind energy competitive, and debt was piling up. It would take a decade of hard work and technological innovation to produce wind energy that could outcompete coal and natural gas on cost without subsidies. The year is 2009 with the Climate Change Conference in Copenhagen. The predecessor company to Orsted was losing money in natural gas with lower cost coal energy generation in Europe at the time. Yet the mood was changing governments were willing to invest in renewables. In 2012 a new CEO Paulsen did a review of 12 businesses of this Danish energy company and decided wind energy was the only one with long term prospects. The Copenhagen Climate Change Conference created new awareness for the need to come up with a long term solution for energy that has no negative health effects and is renewable. That Conference set a goal of 20% for renewable energy by 2020 in the total mix for Europe up from 14%. Paulsen saw an opportunity in the crisis at the company then called Danish Oil and Natural Gas. The new company was called Orsted and the old divisions in fossil energy were sold to invest in wind farms offshore. The way Paulsen saw the situation was that the company had to take radical action whether it wanted to do so or not. By 2012 Danish pension funds were investing in large offshore wind farms of Orsted, taking a stake of as much as 50% in the Nysted wind farm. The Danish government which owned 80% of Orsted thought its projects were risky. Hard work with Vestas which builds the turbines in Denmark paid off in developing a huge new turbine that would bring costs down 65% comparing 2020 with 2012.  In 2018 the European Union was spending about 92 billion euros or $112 billion on energy subsidies including to wind farms. Britain also heavily subsidized offshore wind farms such as Hornsea 1 at about $198 a megawatt hour for 15 years double the electricity price in recent years. Windy conditions and shallow waters in the North Sea were favorable. Technology was being developed with Vestas which would reduce the cost each year. By 2016 Orsted was listed in Copenhagen. The remaining oil and gas business was then sold for $1 billion. The returns are less in wind than coal and natural gas- about 7-8% a year but the big thing is that there is certainty in this compared to coal and natural gas which are volatile and uncertain. The lesson companies are learning in renewables is that with solar and wind technology can. bring down costs, a lot of hard work and creative work lies ahead, that crisis can be turned into opportunity for companies that can be focussed enough to produce results. ...

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The drop in the value of the Turkish currency, the lira, hits ordinary Turks as it pushes up the price of food, medicine and other essentials. The lira has dropped by over a third of its value against the dollar in 2021. This is leading to a decline in living standards in Turkey, says this report in WSJ. President Erdogan is pushing an unconventional strategy to increase growth, by having the central bank cut interest rates as the value of lira drops sharply. This could lead to further drops in the lira making it difficult to make dollar debt repayments says this report in WSJ. The problem extends beyond drop in standard of living for average Turks. The country's banks are affected and companies that have borrowed heavily in US dollars and foreign currency denominated debt. A large mismatch between foreign currency debt such as dollar debt and the country's foreign exchange reserves has led to countries such as Argentina falling behind and seeking IMF assistance. WSJ points out that Turkey has about $160 billion in foreign exchange assets, and $280 billion in liabilities as of August 2021, according to the Turkish central bank. Bank lending in foreign currency is 24% to 45% of their total loans in the first half of 2021, according to Fitch Ratings. This could lead to dollar debt rollover difficulties as debt repayment comes due in April 2021. ...

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The European Space Agency's Juice is not alone in exploring the moons around Jupiter by 2031. One year before the Juice reaches the moons around Jupiter, NASA's Europa Clipper Mission will reach Jupiter- in April 2030. That missions launches in October 2024 and follows a Mars-Earth Gravity Assist trajectory. It will make 50 flybys over Europa, one of the moons around Jupiter, some as close as 15 miles. With its massive solar arrays this will be the largest spacecraft developed by NASA for a planetary mission. 

Europa shows evidence of an ocean of liquid water below its icy crust. This is one of the places considered to be the most promising for habitable environments in our solar system.

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Mexico's GDP increases at 3.9% compared to 2.7% for Brazil in 2011. Foreign investment is increasing in Mexico especially in the automobile industry and in industries where Mexico is favored over China as a production location. The G-20 meets in Los Cabos, Mexico in June 2012.

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China's Producer prices declined by 3%, Consumer prices flatlined, and imports and exports are both down 6.2% in September 2023. Growth is expected not to exceed 5% in forecasts by IMF and others.