LyrArc Article Gist
Katie Rogers writes in NYT about Jill and Joe Biden's fight for "the soul of America." English and writing professor Biden is the first person as spouse of the president to continue her career in the history of the US. 

To win this battle for "the soul of the nation," a campaign promise has led Jill Biden to travel to 32 states. To promote school reopenings, infrastructure funding, community colleges, support for military families. It is a task similar to that of Eleanor Roosevelt, spouse of Franklin Delano Roosevelt, when she tried to rally the country during the period of the Great Depression and the Second World War. With the pandemic, economic challenges, and the social ills the country faces, the tasks today have a similar dimension and are being fought in the same way.

LyrArc Article Gist
German views on Trump's economic policies are described by DW.com's Jeffrey Michels. German business sees a Trump presidency increasing the uncertainty affecting the global economy, a kind of second hit after the hit from Brexit. There is concern about the $114 billion euros in exports made by Germany to the U.S., because of Trump's increasingly protectionist policies. Trump could move to the centre, but so far these populist policies have helped Trump win in the primaries, and this is unlikely to change in the election campaign,  says DW.com.  Trump opposes the TTIP trade agreement with European Union, and because of opposition in Germany, these negotiations are likely to flounder. Even under a Clinton presidency there is little support for more trade agreements, and economist Krugman points out that most of the gains from free trade have already been made. 

LyrArc Article Gist
One of the first questions by moderators in the Univision debate in Florida focussing on immigration issues related to the anti-immigrant sentiment fostered by Donald Trump. Trumps statements on Hispanics and Muslims came under withering criticism from Clinton and Sanders. Hillary Clinton stated in reference to the Trump campaign slogan "Make America Great Again" that you can't make America great by doing things that do not reflect America's values. She said she would continue to speak up against the anti-immigrant sentiment created by Trump's derogatory statements about immigrants.

LyrArc Article Gist
India's economy is at 2.597 trillion dollars at the end of 2017according to World Bank figures, surpassing 2.582 trillion for France. India's economy has doubled in a decade and is expected to pass Germany and Japan in GDP by 2032, to become the third largest after the U.S. and China.

As China's growth has slowed India's is growing. It recovered by July 2017 from one time events designed to actually spur growth such as the effort to implement a nationwide tax for GST. Demonetization also contributes to growth by accelerating the shift away from cash to recorded and taxable transactions. The tax revenue is increasing as less of the economy is in the black market sector. Higher tax revenues enable larger investments in health, education and infrastructure.

New bankruptcy law and speedy resolution of bad debt of banks is also laying the ground for future growth with new investment.

LyrArc Article Gist
In a strategic move to fill a gap in its competition with Tesco and Sainsbury in Britain, Wal-mart has decided to pay 778 million pounds for Denmark's Netto chain's 193 stores in Britain. Tesco has ben expanding with new store formats and has built a sizable presence with smaller stores. Customers in Britain like the advantages of shopping in smaller stores, with older customers or customers in small households preferring to buy often and as needed rather than make a long drive to a distant location for bulk purchases. Wal-mart in Britain was seeing its share of the grocery market at 17% slipping in relation to Tesco's 30% share. Efforts to open its smaller stores of 8000 square feet have run into tight zoning regulations and it has only 25 such stores so far. The Netto acquisition helps fills this gap. It still will not have the same quality of locations that Tesco and Marks & Spencer have, which are better centrally located, and in busy residential areas. It still is a much needed move into convenience retailig for the Asda business of Wal-mart....

LyrArc Article Gist
Erdbrink describes the evolution of trade relations with China which helped Iran during the period of western sanctions. Because of trade with the U.S. and western partners, China was careful to use the Bank of Kunlun, created to handle financial transactions with Iran, for import of oil and export of automobiles and other products.

LyrArc Article Gist
A Washington Post Univision poll in Feb. 2016 shows 8 of 10 Hispanic voters with a negative impression of Donald Trump, and 7 of these 10 having a "very unfavorable" impression of him. The poll shows Trump's standing with Hispanic voters deteriorating, with a Univision survey in summer 2015 showing 7 in 10 with a negative view, and 6 in 10 "very unfavorable." This is in line with Trump's increasing anti-immigration rhetoric and calls for a wall at the border paid for by Mexico, upping the anti-immigrant rhetoric in 2016.

LyrArc Article Gist
Joseph Stiglitz writes that keeping the dollar as the reserve currency is no longer the option. He tells us that it comes with some hidden costs such as a weaker global economy. Having developing countries keep hundreds of billions of dollars in the US in low interest earning reserves makes no sense considering the needs of developing countries, and the improved prospects for the USA and Europe in exports to a growing developing country economies. He points out that a new global reserve currency, with an orderly transition, may be the most important reform to ensure the longterm health of the world's economy. Its bad for the USA to keep exporting T-bills, says Stiglitz, as it does not create jobs. And its bad for all concerned as it lowers global economic growth. Especially he says when it is so unseemly for developing countries not to use the money to improve living standards in their own countries, with the help of exports from developed countries, that in the end improves global growth and the global future....

LyrArc Article Gist
A wonderful mindset and and a philosophy of life and the game from Spanish coach Luis de la Fuente. Sid Lowe of The Guardian's interview with Luis de la Fuente, the coach from humble beginnings who has taken the Spanish team to the Nations League title. Spain defends its title this season. La Fuente has watched the young Spanish players come up through the junior leagues, Rodri, Carvajal, Yamal and Olmo, long before anyone heard of them. He is a former full back for Athletic and Sevilla with little coaching experience mostly in 11 third tier games.  Here is what he thinks of coaching today- "Obnoxious, rude, disrespectful, arrogant … it seems like the only way they take you into consideration is this thing they call ‘charisma’,” he says. “I don’t know what that is but if you’re those things they say: ‘He’s got charisma!’ Well, then, I don’t want charisma. We’ve shown that being normal can work, too. You don’t have to be winding people up all day.” Of his young players Olmo, Rodri, Carvajal, Yamal, Nico, Fabian, he says "it is the symbol of a new Spain that strengthens society, culture, and it is the future." Of the style of coaching it is to be simple- "A structure put in place in the late 90s by Iñaki Sáez, and a culture that brought success. “It is not chance but a process going back many years, based around an idea, controlled." “But we’re very simplistic. That phrase people think was invented recently – game by game – is as old as walking forwards and we went one obstacle at a time, in order. We have to take the drama out of the concepts win and lose; sometimes it’s destiny’s whim. But our conviction was we were there to win, to reach our limits.   ...

LyrArc Article Gist
The CEO of the New York Times and the former director general of the BBC, takes a look at the public discourse in the 2016 U.S. presidential election and in the Brexit campaign, and finds some troubling changes. The use of words that can eaily be picked up by Twitter and social media to attack opponents, the complete disregard for facts, and outright attempts to denigrate and destroy using rhetorical tactics, and a section of the public that has turned away from the facts or is disinterested in facts, is deeply troubling for Mark Thompson. When the public discourse fails, then the politics as a whole starts to collapse, says Thompson. We are children of the enlightenment, says Thompson, and were taught to look underneath statements to discern the truth. This is a crisis in public discourse. Worse it is one in which truth telling by people who say they are outsiders and tell it like it is, is not about telling the truth. Which is what makes it so dangerous. Thompson cites the statement by Michael Gove that "people in this country have had enough of experts," as another dangerous sign. He says it is time that experts make themselves understandable and talk in a way the public can understand. The media needs to explain issues in clear ways, and professional policymakers language of discourse needs to be conveyed in better ways that the public can grasp, in which the Brexit Remain campaign failed, says Thompson. Its important to acknowledge the problem, as the health of our democracies depends on finding solutions to what has happened in 2015-2016 to change the public discourse and let it deteriorate to unimaginable levels.  ...

LyrArc Article Gist
A former cricketer who helped Pakistan win the World Cup, is elected prime minister of Pakistan, His party leads in the 2018 elections with 120 seats, the party of Mr. Sharif with its base in the Punjab wins 60 seats, and the party of the Bhuttos with its base in Sind province wins 40 seats. Imran Khan has the support of the military in Pakistan.

Mr. Sharif was ousted as prime minister before the election on corruption charges first revealed in the Panama Papers. 

Pakistan faces challenges of managing its economic relationship with China with debt repayments to China for infrastructure projects leading to a planned IMF bailout in 2019. The relationship with India remains strained over Kashmir, and leads to a situation in which the military runs external affairs of the country. The economic and political issues need to be untangled so that Pakistan and the rest of South Asia can divert resources from defense to economic development.

LyrArc Article Gist
IHS reports show the cost of making the Galaxy S 4 smartphone with 16 gigabytes of flash memory is about $244. This is 15% more than the cost for the Galaxy III and 17% more than Apple iPhone 5 with 16 gigabyte memory. Higher cost is due to better sensors, a better processor, and larger full high-definition display for upgrades. Samsung plans to launch the new phone in April 2013 in 155 countries. Unlike Apple Samsung does its own manufacturing providing it an edge in hardware capabilities.

LyrArc Article Gist
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. ...

LyrArc Article Gist
This editorial in the Hindu- after encouraging news from Moody's and the World Bank on India's economic future- says that the Modi government should not be distracted by the upcoming elections as it focusses on the task ahead. After a gap of 14 years Moody's raises India's credit rating one notch. Moody's cites steps taken by the Modi government as creating a better environment for future growth- the implementation of GST goods and service tax, efforts to clear some of the bad loans in the banking system so that capital can be freed up for infrastructure investment, and reducing bureaucratic hurdles for clearance of projects. Moody's cites the high public debt burden as a constraint for growth. General government debt is at 68% of GDP in 2016, higher than the 44% median for economies in this range. On the plus side the better targeting of welfare measures to help the poor including steps in the banking field, bringing more businesses into the formal sector to improve tax revenues, and the large pool of private savings, are cited by Moody's. Critical is timely implementation in the future. As the discussion in the media on bullet trains and other new infrastructure shows, there is not enough momentum for stretch goals as China has done over the last 2 decades.   ...