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900 million eligible voters in India means this is the largest election ever. The election will take place in 7 phases in April and May from April 11 to May 19. Votes will be counted on May 23. The election is for 543 seats in parliament, the Lok Sabha. Turnouts are high with 66% turning out in the last election that brought Mr. Modi and the BJP to power.  Unlike elections in Britain a lot is spent in each election, about $5 billion in the last election and double that this time. The U.S. elections in 2016 had spending of $6.5 billion as a comparison. Women vote at about the same rate as men and more women than men are expected to vote this time. Prime minister Modi won the last election with promises of development and infrastructure. He is delivering on infrastructure but building manufacturing and generating jobs in the formal sector remains a tougher task for any administration in 4 years. During the first term Mr. Modi made needed changes including introducing the GST tax to integrate India's fragmented market and get rid of a patchwork of regional state taxes. He introduced a whole range of projects and yojanas which are setting the stage for widening the middle class, and improving living conditions. Some of the problems such as the bad loans in the banking system date back to previous administrations and the government has taken steps to clean up this problem by refinancing banks and introducing a bankruptcy law. This has slowed GDP growth to about 7%. However this would have happened under any administration.  The brief war with Pakistan in February 2019 has added another dimension to this election with questions about whether this may help Mr. Modi because of his strong stand against terrorism camps in Pakistan.  In the end it all comes down to whether the public still believes the BJP party under Modi is best qualified to develop the infrastructure to modernize the country and improve services, and whether it can create enough of the manufacturing capabilities to generate jobs needed. It may not be that the BJP under Modi has  not made mistakes in the process of learning how best to tackle development, but whether a patchwork of regional parties led by the opposition Congress party is in a position to provide the strong decisive direction to make quick decisions on development. Getting the agreement of a number of regional parties such as the party in West Bengal state or the Uttar Pradesh state when it was under a previous administration of Mrs Mayawati means an even slower rate of decision making as it leads to lack of speedy decision making. Whether voters have short memories and forget the slow rate of infrastructure development under previous administrations or have a willingness to give the BJP a chance to show what it can do under Modi for development can eventually decide this election. An example of what this means is in how the Mumbai Metro is being pushed through to timely delivery- Metro Rail's head Mrs. Ashwini Bhide simply says she feels for the people of Mumbai who have suffered from delays in development of needed infrastructure for so long, with millions doing appalling rides in a creaky old rail system. In her view it should have been done yesterday. It is this attitude that can make or break the current administration, and whether it can get this message through to voters one more time. Most who have this attitude are aware that China is now laying enough concrete every two years than America did in the whole 20th century, as reported in the Guardian newspaper, and are equally passionate about delivery of services and rapid development of badly needed infrastructure.         ...

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Issues raised by the huge mismatch between revenues and investment for AI. $400 billion estimated investment by 5 Tech firms in 2025 alone with revenue of about $40 billion and huge uncertainty about when AI will produce returns. Articles seen this week of November 17 in the WSJ and NYT on this issue, podcasts, discussions in other media outlets. Could this lead to a dot com bubble type economic crisis? Could that lead to a recession? Alongside these articles another article in the WSJ on Nov 17 shows the benefits small firms get by using AI, benefits which are on the fringes of their business, not essential but with some experimenting firm owners/managers able to tweak AI information for use in business. Nothing significant which firms will pay much money for. The uncertainty is a major factor. Should geopolitics trump all these concerns? Is the competition with China require this scale of investment, and is China following a more utilitarian approach as reported in a WSJ article this month, of investing in AI in a utilitarian way targeting its use in improving manufacturing, improving infrastructure, and not wildly throwing money at experimental uses that are unlikely to yield much result. In geopolitical sense would the country that not only promoted AI but used it efficiently and cost effectively, used it in ways that promote the overall public good, get the WIN. In short it behooves everyone of us to ask hard questions of AI, to dehype the hype, to look for the public good that comes out of this from it's efficient use. To ask the tough questions when $400 billion generates only $40 billion in 2025 and the $3 trillion planned investment over 5 years is half unfunded, is it going to crowd out energy needs for homes and business, push renewable energy targets back, crowd out essential investments in the crumbling aging infrastructure of the US and Europe, crowd out essential investments in education, healthcare, pharmaceuticals, and manufacturing, that hold better promise for our People. Will it also put retirees at risk when corporate bonds from retirees money fund the unfunded portion of AI? This means making the political dimension not about migration, settling the illegal migration issue that was meant to be settled a long time back, or about cultural issues that have little day to day impact on our lives which are about groceries, childcare, housing that are non ideological. Making the political dimension not about remote countries that one knows little about except when it affects public safety and health as with fentanyl. Capital allocation decisions to the vital needs of America can then be free of politically induced error, so that it can be subjected to the test of how best it serves the public interest and the people of the Nation. ...

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Warnings to governments and leaders in industry and pharmaceutical research about epidemic preparedness by Bill Gates were ignored. He spent hundreds of millions of dollars to develop new vaccines and create disease tracking systems. But only governments could tackle this problem. He tells the WSJ in an interview that he feels terrible and that he wishes he had done more. His fear that a once in a century pandemic has come true. Governments did respond to the public health preparation needs as reported in France 24 to both SARS and the H1N1, both in Britain and France. It was the disbanding of this effort in the period of the global financial crisis and the eurozone financial crisis that led to the level of unpreparedness that Western Europe finds itself in today. This was caused by irresponsible banking practices. The response was austerity measures in Britain, France, Germany and Spain that led to leaving public health system investment being neglected, without fixing the original source of the problem. Misallocation of capital and lopsided priorities continued through most of the period leading up to the pandemic. There is a lot that Gates and other public spirited leaders could do now do in the new reordering of priorities and shifting the allocation of capital to public services and investments in infrastructure, and supply chain renewal to safeguard national interests. Today he is working with pharmaceutical executives and governments to produce billions of doses of vaccines while they are being tested. His foundation has reserved space in a manufacturing plant so that production can begin quickly once an effective vaccine is found. He says nobody has made 7 billion vaccines so that it will need all the help that it can get and international cooperation.  In an earlier interview with WSJ he told the interviewer in November 2014 that the world as a whole did not have preparedness. France and Britain prepared and then abandoned the effort for epidemic response by 2012 following the global financial and eurozone financial crises. Gates repeated the warning to 2016 presidential candidates in the U.S.  In 2017 at the Munich Security Conference he reminded people- "getting ready for a global pandemic is every bit as important as nuclear deterrence and avoiding a climate catastrophe." One focus of Gates was to come up with faster ways to a vaccine by using ready made components and then customizing it. This is an approach being adopted today by Oxford scientists and by Quidel Corp. in the U.S.   ...

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The new faces in the Biden administration on economic policy are Janet Yellen, as head of the central bank, the Federal Reserve, and Cecilia Rouse, a Princeton labor economist, as head of the Council of Economic Advisors. In this report WSJ looks at the economic policies of the new administration after Mr. Trump rejected globalization and international trade agreements that were not in America's interest or that hurt American workers.  Informal conversations with experts suggest WSJ says, that globalization is now suspect as a way that benefitted China and other countries including Germany, and hurt the U.S. France, Britain and other countries in Europe that were not strong exporters. This hurt their industries which were eroded by imports resulting in the three decades long destruction of communities across these countries that depended on manufacturing. It has also hurt countries like India that let their markets be dominated by Chinese imports, with a reversal of policy in 2020 with self reliant economy under "Atman Nirbhar" policy as the new goal. Mr. Trump's tactic in this trade war was to fight back to regain America's position in manufacturing with tariffs on imports. The trade deficit had to come down with China just as it had done with Japan decades earlier. This was starting to happen. One problem in bringing down the imports was the increase in the value of the dollar, as Janet Yellen has noted. The new policies will look at what the effective policy will be while keeping this goal in mind.  Both Yellen and Ms. Rouse have spent years studying labor markets and Ms. Rouse is quoted here as saying: " With open trade there are winners and losers. The losers are really losing, and we need to take care of them and take on more nuanced models of international trade as a result." Other experts from the earlier Democratic administrations such as Prof. Frankel at Harvard say that there needs to be increased focus on American workers left behind by trade, technology and unequal education, with more spending on preschool, infrastructure and health. All this suggests that there will be a continuation of U.S. policy in challenging Chinese use of globalization to advance its interests, chastening Americans on the use of the very word globalization which can mean different things to different people based on how they can gain advantage. The word may even be entirely dropped in favor of what the policies are and what they do for the American worker, American communities including small towns, and the American people, spelling each of these out every time supply chains and the global economy is mentioned. The new administration will get an opportunity to show that it too can come up with new ideas and action plan to strengthen American manufacturing and jobs. It will also have to show substantial results as people have lost patience with Democrats and Republicans on the lack of progress in rebuilding America's leadership role in the world economy, and in defending American workers and factories. Clinton, Obama and Bush all offered false promises on trade with China ignoring the damage this had done to American leadership in the world economy. Clinton with support for China's entry into the World Trade Organization, Bush with foreign wars and costly diversions and regulatory failures with banks that led to the 2009 deep recession hurting Americans, and Obama with the lack of will and interest in America's leadership role in the world as the dominant nation in manufacturing,   ...

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The changes in Saudi Arabia being made by 30 year old Prince Mohammed bin Salman amount to a large cultural change for Saudis. It means Saudi Arabia is now seeing a new generation of Saudis taking over, and making economic and social shifts as the Saudi young population surges and change becomes inevitable. Younger women are entering the workforce and foreign workers are leaving the country. Changes include having retail locations close by 9 pm instead of later so that people can spend time with their families. New jobs are being created in unlikely places such as renovating architectural monuments in Riyadh.

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Germany's goalie Neuer would stay outside his goal box so much of the time that it has become the norm for goalies to move out of their box to tackle incoming balls. In this World Cup Soccer the winning team goalies have stayed inside their box to make saves. Particularly true for France, Croatia's Subasic and goalies for Belgium and France. Most of the game depended on goalie saves for Croatia and France. Subasic and Lloris stayed inside the goalie's six yard box and made sensational saves. France's coach also wanted his goalie inside the box and to play the game the way it used to be played 20 years ago.

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Thomas Huetlin, writes in an editorial in Der Spiegel, that the British parliamentary elections and losses of the Conservatives, may have killed off Brexit. He cites a unnamed cabinet minister in Theresa May's cabinet who says that frankly Brexit is dead, and is quoted in the Financial Times. The Financial Times also described the situation after the election as making Britain look "ridiculous." Der Spiegel points out that the more time passes the more the anger over Brexit idea being used by British Tory politicians in their political calculations is likely to increase. And more so as its negative effects on the British economy become increasingly apparent. Warnings that the Bank of England has repeatedly made

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Brexiters dream of a revival of colonial trade links with a nostalgic view of Britain. The idea of "global Britain." Yet there is a flaw in this vision as only 3.3% of Indian exports went to Britain in 2016, and 17% went to EU countries. As an exporter Britain barely comes into India's top 20 trading partners. Part of the reason is that British companies build domestic plants in India. Much of the optimism comes from the UK-India Technology partnership agreed between prime ministers Modi and May in April 2018. 

On a trade deal the EU is working on this since 2007 so a trade deal will take a long time in negotiations.

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Personal and institutional investing expert Jeremy Grantham has followed the market for several decades. Here he warns of an epic bubble particularly in technology related companies similar to 2000. The two stock market disasters in 2000 and 2009 hurt small investors. With the interest rates pushed down to near zero by central bankers, investors in the U.S. were faced with difficult choices of seeing no return on savings for a decade or investing more in the stock market. Collapsing stock markets lead to a loss of upward mobility in society as many families lose a portion of their savings. The significance of Mr. Grantham's call for caution is based on simple common sense when he says that electric car maker Tesla's stock price would mean over 1 million dollars for each car sold by Tesla, compared to $9000 for each car sold by General Motors. Traditional car makers and other manufacturers are being deliberately under priced on markets with the reverse for some tech companies. Major investment firms such as Morgan Stanley, large investment banks,  Grantham says are part of this system of overpricing, and are not going to say proceed with caution. ...

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The Dutch government of prime minsiter Mark Rutte resigned on January 14, 2021, after a parliamentary report showed that 26,000 families were wrongly accused by the tax authority of claiming child allowance since 2012. 10,000 families were asked to repay the amount leading to bankruptcies, divorces. Mr. Rutte admitted that there wa a breakdown "at all levels of the state." The opposition Labour Party social affairs minister at the time in the government resigned over the affair. The parliamentary investigative committee chairman says that the problem was pervasive at all levels of the government, including civil servants, bureaucrats and judges. There was he says systematic racism as people with foreign sounding names were singled out. Experts from think tanks say there is little political cost to Rutte and  ministers from his People's Freedom and Democracy Party. New elections are to be held soon and Rutte will continue with a caretaker government. Polls show he has 30% support twice that of the next party the anti-Islam Freedom party of Geert Wilders.  The government has set aside 500 million euros in compensation, 30,000 euros for each family. ...

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Simo Romero describes the serious self-reflection among Brazilians, as protests against the games and a climate of indifference replaces the euphoria in 2009 of getting to host the Summer Olympics in 2016. About 63 percent of Brazilians believe hosting the Olympics will hurt the country, 51 percent say they are not interested and only 16 percent are enthusiastic about the games, according to polling company Datafolha. The problems Brazil faces now stem from corruption scandals at Petrobras, impeachment proceedings against president Rousseff, and appointment of an interim president Temer, both extremely unpopular. Rio de Janeiro state's finances are in severe condition, and Brazil appears to have wasted the boom years by running up too much debt and not investing in public infrastructure, education, healthcare, and public services. As a result during the Olympics the sailing competition in Guanabara Bay near Rio is faced with the unpleasant problem of raw sewage that has not been cleaned up. Security needs in the Olympics area has led to reduced security in the northeast where prison run gangs operate in some areas against public property. Former president Lula da Silva who was once popular as Brazil experienced the commodities boom is now under investigation related to the corruption at Petrobras.  ...

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With U.S. crossing the 300,000 mark in infections on April 5 the country enters a new and critical phase in the fight against the global pandemic. Globally cases of infections jumped by 100,000 for the first time to 1.2 million. Health experts say the next 2 weeks are critical for winning the war against the global pandemic. White House coronavirus response coordinator Deborah Birx urges people to isolate themselves, avoiding even the trips to the grocery store or the pharmacy. Models show the infections peaking in New York, Detroit, and New Orleans in the next 6-7 days Birx says. In Europe the pandemic may be reaching a peak in Paris area and eastern France. High speed trains transferred patients from eastern France to western France as the fight continues. In Italy and Spain strict containment measures are now bringing in results with rate of infections increasing by less than 5% from the previous day. Daily deaths are less and pressure on hospitals is beginning to ease, with number of patients in intensive care decreasing. Queen Elizabeth II will address the British nation in a prerecorded address, the fourth one in seven decades of her reign, to thank health care workers. ...

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Northcroft in The Times says this about Gareth Southgage that Southgage devoted his life to the national team and has an envious record with two finals, one semifinal and one quarterfinal in world soccer. It is the best record of an England coach in 66 years. Southgate says that this Euro 2024 was the best coaching he has ever done. In the game with the Netherlands taking out Foden and Kane in the last minutes of the game and bringing in Palmer and Watkins led to Watkins taking England to the Finals against Spain. In the last minutes of the game repeated headers and counter headers almost took the game against Spain to extra time. English fans are notoriously fickle and Gareth Southgate deserves to feel great about what he has accomplished winning the respect of the Spanish team which clearly were desperate to keep the ball out of their goal to the end, winning the applause of hundreds of millions fans all over the world for games well played, and the thanks of England for doing the hard work at the FA level youth clubs at under 16 and under 19 to give English soccer a new generation of players. This really is what soccer is about, not the glitz and glamour of television and record level contracts of players and team owners, or unruly fans and their criticism, that are eclipsing the best aspects of the game that brings so much to people all over the world. Because no other game reaches so many people in every part of the world. ...

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With about one fourth the population of California Michigan has done approximately 100,000 tests, compared to about 213,000 in California. This is about twice the rate of testing in Michigan- with the help of the U.S. government- compared to testing taking place so far in California. The lack of aggressive testing in California could also mean there is a lot that remains unknown about the extent of the spread of coronavirus in California. 

That Governor Newson ordered New York to shelter in place on March 19, 3 days after the stricter stay at home order in France on March 16 requiring a document to show police to go outside, shows California like the rest of the country was not that much different. Beaches were packed in California on the weekend of March 15. A lot remains unknown at this point about the spread of the virus. The urban sprawl areas in Michigan are as hard hit as Detroit.

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Efforts of prime minister Theresa May to somehow force members of parliament to back her Brexit deal through repeated votes in parliament have collapsed. Speaker Bercrow says the same deal cannot be voted on twice. Last week the British parliament rejected May's Brexit deal by the largest margin of any bill in parliamentary history. The vote rejecting her deal was with a margin of 149 votes. Speaker Bercrow cited a parliamentary convention dating back to 1604.  

Conservative Party leaders opposing May's deal Jacob Rees Mogg welcomed the Speaker's ruling. The Conservative Party is so divided on this issue of exiting the European Union that it has severely undermined Mrs. May's authority in parliament. Mr. Mogg favors leaving the European Union with no deal regardless of the consequences. On the other side is the Labour Party and some Conservative party members who are adamantly opposed to this.

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Liz Whitehurst is one of many young people who are giving up jobs in offices to take to farming. They are not from farm families and bring a new way and exciting way of looking at farming free of the pesticides and other practices common today. Only 2% of U.S. land is being used for growing fruits and vegetables, according to the Union of American Scientists cited in the Guardian newspaper, and this needs to at least double in acreage if American needs are to be met. Only 15% of Americans get the daily requirement for fruits and vegetables- so desperately needed is this  to lower the BMI of the 70% of overweight Americans with BMI over 50. In the light of this crisis the shift of young people to farming is an encouraging sign.  In 2015 Liz, 32 years, decided to buy a 3 acre farm in Upper Marboro, Md, giving up benefits and better pay at nonprofit jobs in Washington state.  Here she is shown picking up Aragula leaves in the November chill. She is not alone. She is joining a movement that is bringing highly educated, former urban first time farmers as the demand for better food, for local and sustainable food, especially fruits and vegetables grows in the U.S. Year on Year there is a 20% increase of farmers in states like California, Nebraska, South Dakota in the 25-34 age group. In the 2014 USDA Census this group is growing at 2-3% just when other groups are shrinking by double digits. These farmers are more likely to connect with the community supported agriculture (CSA) prorams and markets, to grow organically and limit pesticide and fertilizer use. They tend to have farms less than 50 acres. Liz leases the house and the fields from a neighboring couple in the 70's, growing organically certified peppers, cabbages, tomatoes and salad greens kale to aragula, rotating fields. On Tues, Thurs. and Fri. she and two friends are to be seen waking up in the early hours of darkness to kneel in mud and cut the greens. What motivates them is having a positive impact, to do that so it is immediate and you can see it making a difference, says Liz. Still young farmers face many hurdles, including student loan debt, and finding ways to meet the larger needs for online grocery service or the grocery chains. Yet a trend is taking shape for small and middle farms that provides some optimism as the number of farmers shrink significantly overall. Most alarmingly it is the lack of national and local policies to meet the health crisis of rising BMI's right at this level of local farms and community farms for local produce. Lack of any consciousness about this, even though good health in the U.S. as in other countries has always rested on what you are eating, long before processed foods became the norm this is the way the world met nutrition needs.    ...

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As India takes on the presidency of the G20 in December the first steps are being taken by the German Foreign Minister Annalena Baerbock to build closer ties with India. The Hindu gives this intervew with Baerbock that shows Germany's keen interest in building the India Germany partnership. This sets the stage for the bi-annual India Germany summit meeting, with German chancellor Scholz to visit India in early 2023. Some of Baerbock's comments show energy and enthusiasm for India to work closely with Europe. "Our countries have so much to offer one another. We want to tap that enormous potential. One such example is the concrete agreement we will sign during my visit, making it a lot easier for both Indians and Germans to study, research and work in our respective countries." "Today's era is not the era of war, that was Mr Modi's message to Putin- that was the resounding message and I highly appreciate India's seminal role in achieving this." ...

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The simple fact that other countries are subsidizing heavily the early period for building a new industry, as Taiwan has done in semiconductors, China in solar panels, and European governments in other industries, had serious industrial implications that were ignored for too long. US president Biden is following the same approach to bring back American leadership in manufacturing of semiconductors - supporting and nurturing American manufacturing. The unavoidable fact is that tens of billions of dollars are needed in risky bets on semiconductor manufacturing that is feasible only with the help and cooperation of governments. The choice is do this or lose leadership in one sector after another autos, semiconductors, renewable energy, and so on. What many fail to understand is that loss of this leadership leads inevitably to dependence, and loss of national sovereignty or economic security in some form or other. The path to leadership comes through gaining a storehouse of knowledge and technologies which makes it harder for new entrants including ones such as the US who have ceded this position of leadership completely as in semiconductors manufacturing. ...

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This report in the NYT says a little known donation raising method used by the Republican National Senatorial Committee may affect Republican chances of taking control of the Senate in the US. The method is considered part of hyper aggressive methods that ask people provocative questions such as "Should Biden resign?" in millions of text messages sent out and asked to reply click YES to Donate, the amount is then processed immediately, says NYT. It was so controversial that WinRed the main Republican donation processing platform banned the practice. It appeared to be working earlier but with the cost of living crisis in 2022 donors are holding back. NYT says the digital ads to get these donations cost more than the donations in some situations. It cost $23.3 million for digital ads and expenses and raised only $6.1 million leading to a $17 million deficit, according to NYT. Senate Minority Leader Mitch McConnell now thinks it could affect chances for the Senate. The NSRC Republican group has $23 million about half what the Democrats have. ...

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Cable television's decline as seen from the experience of CNN. This report in the WSJ says not only is cable television declining in viewers, CNN is falling behind MSNBC and Fox which are also declining. The 24 hour cable news network format is seeing rapid shift to streaming services that generate little profit. Monthly prime time viewers for CNN cable television is down to 568,000 compared to one estimate of 166 million for its website and app streaming services. The result is a search by Warner Discovery, new owner of CNN, for a way to reverse the slide in people watching by showing both sides instead of skewing to one side, which is also not working. 68 million Americans subscribe to cable television packages including CNN down from 72 million in 2022 for which CNN gets $1.25 per subscriber. Advertising produces most of the revenue- $600 million in 2022 down from 900 million in 2020. Smaller audiences and poorer ratings with so many choices for viewers from CBS, ABC, NBC, MSNBC, CNBC, Fox, etc mean less advertising revenues.   ...

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In a new trend that looks good for America is seen at companies such as American Fleet, which makes diesel engines for trucks. During the pandemic it was making 40 engines when it could make 30 normally, by adding overtime. It looked for mechanics. Now as demand is slowing workers work fewer hours. And the company which has a hard time finding mechanics is avoiding layoffs. It wants to avoid the expense and trauma of hiring and retaining workers. With fewer engines to build workers are prepping engine blocks and upgrading equipment so that when demand picks up again they will be ready. Workers are being hired to fill unfilled positions allowing overworked employees to return to normal hours.This is a national trend reflected in declining overtime hours and working hours are shifting also with workers opting to work less because of work-life priorities. This should be seen as part of the renewal of America, because when workers do well, the middle class does well, and when the middle class does well America does well. America does well when companies and workers mean the same thing. ...

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A growing consensus among experts that it is not so much surface contamination as the air we breathe in that is the problem. The longer you spend time with people talking in face to face interactions, or inhaling air aerosolized in the air from small droplets, the easier it is to get the virus. This means social distancing matters in a big way. Masks are a big way to cut the risk. The worst you can do then is to be in a crowded event, ot have closeup face to face interactions for long periods. Being where there is loud talking or singing is a bad idea. This is why actions such as plexiglass installed as barrier, requiring masks in stores, using good ventilations systems and keeping windows has an enormous impact. This means that people can do a lot of work, exercize and other activities outside if one takes the basic precautions to heart and practices seriously. Contact tracing and testing, and other measures can be targeted to keep the spots that have a surge under control. ...

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 Robert Costa CBS: Are you worried about the Senate majority? It's a narrow majority for you right now. What's your candid assessment about the Senate majority and Democratic chances? Chuck Schumer, US Senate Majority Leader:  My candid assessment is we're going to not only win the Senate, but we have a good chance to pick up a seat or two. Our candidates, our senators, are running on their records of accomplishment. And that's why they're running ahead of even the national ticket. Because when they show all the good stuff we're bringing to their states, through the infrastructure bill, through the Chips and Science Bill, was so many good new manufacturing jobs, through bringing broadband to rural areas for the first time, where rural areas desperately needed. You know, Franklin Roosevelt said in the 1930s, electricity was a necessity and brought it to them. We're doing the same thing with broad bands, which in the 21st century is a necessity-- ...

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The US tariff on China made EV"s imported into the US is 100%. The EU has a 10% tariff. It has now imposed additional tariffs that range from 17% to 38% depending on its investigation with Chinese companies on how much support they get from the Chinese government as hidden subsidies. This move is to level the playing field. The result is that BYD faces a 17% tariff because it has operated relatively on its own. For Geely and SAIC it goes up to 38%. The tariff on European companies making EV's in China and exporting them is additional 21%. US carmakers (GM and Ford) have only a small presence in the Chinese car market compared to the Europeans who  make and sell 3 million luxury cars in the Chinese market (BMW, Audi, Mercedes Benz). About 25% of EV's sold in Europe are now China made EV's. The EU wants to level the playing field so that local makers maintain a strong presence in their home markets. The US with no significant car manufacturing presence in China of Ford, GM to protect is taking stronger action. ...

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Here is someone in the UK who got is degree a BSc. in economics and is now working in finance in London. He borrowed 44 thousand pounds. He paid back 7000 pounds. How much does he owe? 54,000 pounds that's because at interest of 7.3% instead of 8% he still cannot keep up with interest costs. This is the problem not that young people don't want to pay back their loans. The setup is faulty. The problem is Plan 2 Loans in England And Wales which charge an additional 3 percent over and above the Retail Prices Index which was 4.3% in March. All Plan 1 Loans charge only the RPI 4.3%. At 4.3% this borrower would at least have paid back some of the principal so he knows he is making progress with the student loan.  The Labour government has said -"government could reduce the monthly repayments for every single new graduate without adding a penny to government borrowing or general taxation". But nothing new is expected this year's Budget.  ...