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This editorial in the WSJ says the reinterpretation of Article 9 of the Japanese Constitution to allow collective self-defense in no way brings Japan back to its militarist past. It reminds readers that Prime minister Abe faces the Japanese public's skepticism as a majority of Japanese in polls show they do not favor the collective self defense interpretation. The New Komeito party in the coalition government also restricted the interpretation. South Korea's reservations have also to be considered by Japan. The revised interpretation lets Japan fill some needed changes in its role in the new situation where China has taken a more assertive stance on territorial issues in Asian waters near Vietnam, the Philippines, Japan and South Korea. In this manner the restricted interpretations lets Japan fulfill a role necessary for the U.S. to continue its presence and strength in the Pacific and Asian waters needed to maintain peace in the region.

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Arvind Panagriya, Prof. of Economics at Columbia University, points out the key initiatives of the Modi government in its first four years which will show results in future years for development of the country.  He mentions the Swachh Bharat Mission and cites results that show rural households with toilets are now 84% up from 38%.  By 2019 the whole country will be defecation zone free on the 100th anniversary of the birth of Mahatma Gandhi. The Dhan Jan Yojana DJY accounts opened for rural households are up to 316 million. Aadhar cards for identification are up from 650 million to 1.2 billion. The Aadhar and DJY work together to enable direct transfer of benefits to poor households, eliminating the leaks in benefits transfer and ghost accounts of the period since independence in 1947. Not mentioned by Panagriya is the Health Insurance scheme for lower income households that enable families to survive a sudden medical expense that could put them in dire straits.  These efforts work in a way to change India from the ground up from its villages and rural areas as envisioned by Mahatma Gandhi in the struggle for independence. The land acquisition law amendments were put on hold till farmers concerns could be better accomodated, an area of concern for industrial development cited in an editorial in the Hindu newspaper. Fiscal consolidation and inflation targeting have resulted in an average inflation rate of 4.3% for the 4 years of the Modi government. Inflation was over 9% in the last 2 years of the previous Congress UPA government with GDP growth dropping to 5.9% for the last two years. Average GDP growth for four years for the Modi government is 7.3%, even after the changes to implement GST taxation for one national tax eliminating state barriers in interstate commerce and demonetization to fight corruption and black money. Rate of GDP growth should be higher after the gains from the initiatives and the new GST integration of the country are felt, with increase in investment and FDI, after infrastructure improvements and land acquisition arrangements are made. Transportation infrastructure modernization initiative pushes ahead with the first bullet train in the pilot project for Ahmedabad- Mumbai set to start in 2022. This is a $17 billion project financed for $13 billion by the Japanese government at 0.1% loan for 50 years, moratorium on repayments for 20 years, using E5 Shinkansen series technology. Implementation of this project on a sound financial basis should lead to transformation of the Indian rail network, raising the level of technology implementation across the entire Indian rail system. Such an achievement would rival the first introduction of railways into India in the nineteenth century under the British. A new bankruptcy law is intended to free up capital for investment by putting behind the large number of non performing loans in the Indian banking system. Changes made by the central bank RBI are designed to speed up this process so that loss making enterprises are absorbed, consolidated or shut down, a legacy from the earlier period.     ...

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The World Bank annual report on development focuses on agriculture as the means to reducing poverty in Africa and Asia, with the poorest farmers in Africa, South Asia and parts of China

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A report by the Longevity Science Panel for the UK says the life expectancy gap between the richest and poorest neighborhoods in England has increased since 2001. In 2001 this was 7.2 years, by 2015 this increased to 8.4 years. The government points to cancer rates, the Longevity Science Panel report authors say income inequality was the main factor. To do this report LSP looked at data from the Office for National Statistics for 2015, which divided England into 33,000 residential areas and rated them on factors ranging from income levels, health, education and crime. This report points out that men and women from the bottom fifth were 80% more likely than the top fifth to die in any given year. 

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This article has several information links for different groups. One to "Putin and Russian oil policy"- consolidating into state hands all the major oil properties by buying the privately held company holdings such as BP-TNK's Kovykta gas field. A link to remarks to the New York Times in an interview by Medvedev, deputy CEO of Gazprom. And a separate link to "How Russians see Themselves and the World around them." The other link is in comments by Surkov, Mr. Putin's deputy chief of staff at a news conference and Putin's remarks in pre-8 Summit television interviews. Content Links 1. Link To the group "How Russians See Themselves and the World." In remarks at a news conference, Vladislav Surkov, Putin's deputy chief of staff referred to Russia's desire to keep its national sovereignty in terms of how it manages its oil resources in Russian interest. Russia did not want to have to respond to western demands for access to its oil resources and oil and gas pipelines. Surkov pointed out that Russia was a free nation among other free nations and did not want to be controlled by outside interests. Putin in pre-summit television interviews had an interesting view of the criticism of Russian oil policy and its consolidation of oil resources into state hands, as well as the centralization of powers and putting media into state hands, and its new stance in foreign affairs. He told this to the French channel TF1: Putin suggested old views of Russia stemmed from outdated cold-war competition, and misguided colonial-era arrogance. If we go back 100 years and look through the newspapers, we see what arguments the colonial powers of that time used to justify their involvement in Africa and Asia. They justified their involvement with statements that is was about playing a civilizing role, the white man's burden, the need to civilize these people, Putin told TF1. All you have to do is change the words "civilizing" to "democratization" and then we see the application almost to a word of what the newspapers were saying in 1900 to day's world. These are the arguments one hears from our peers in the U.S. and Europe on democratization and democratic freedoms. This is remarkable statement in revealing how the post Berlin Wall 90's experience with democracy has soured Russians view of democracy. And the peculiar way Putin and other Russians see the western exhortations for openness, transparency, freedoms, self interested, motivated by gains for western economic interests, and disregarding Russian interests such as national pride, economic-higher energy prices to sustain growth, national sovereignty. The NYT article can be seen in the context of a strategy article in Foreign Affairs, July/August 2006, "Russia Leaves the West," by Dmitri Trenin. Trenin says the U.S. and Europe want a weak Russia that they can exploit and manipulate, which means Russia needs to assert itself and its own interests just like the U.S. and China. The idea presented by Deputy Director of Carnegie Moscow Center, echoes Putin's own suspicion of western interests and their "colonial era arrogance". Trenin's view is of a fundamental shift in Western-Russian relations: the United States and Europe could protest this change in Russia's foreign policy all they want but it will not matter. For Trenin the U.S. and Europe had to agree that the terms of the Western-Russian interaction, set after the collapse of the Soviet Union's collapse, was now fundamentally changed. 2. The second link is with the "Putinand Russian Oil Policy" group. It provides details about the Kovytkta field owned by BP-TNK and what is happening there. Alastair Ferguson, director of BP-TNK's gas operations describes the situation in a interview with NYT at his Moscow offices. Ferguson says it makes sense to do what Russia is doing if you are the Russian government. By letting BP-TKN build its own pipeline Russia would lose influence over gas prices. According to Gazprom allowing private companies to ship gas independently would drive down gas prices. And Ferguson says this gas field is huge and supplies going to China and rest of Asia could lower prices of liquefied natural gas in California. Medvedev, Gazprom's deputy CEO was also interviewed in his Moscow offices. Gazprom and the government would answer the question about export sales, not BP-TNK. Medvedev's view is that this is a technical question for Gazprom and Russia to decide and has little to do with the G-8....

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Marcellus Shale natural gas prices are monthly average of $2.80 per million BTU compared to benchmark U.S. prices for natural gas of $3.61 in Nov. 2013. The low prices of natural gas are leading to closing of more coal powered plants in the Pennsylvania, and W. Virgina, where a glut of natural gas is developing with few pipelines in the region. For the U.S. coal lost market share down to 37% in 2012 from about 50% of the electricity generated in the U.S. Over 100 coal burning generators were closed in the U.S. since 2011 because of lower natural gas prices and the federal government's stricter pollution limits for power plants.

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Oil prices are forecast to remain above $100 a barrel in 2012 because of higher social spending in Saudi Arabia, Iran and other countries after the democracy protests, and the threat of retaliation by Iran in the Straits of Hormuz. Iranian threats of retaliation for increased sanctions has embedded a $10-$20 premium in oil prices say some experts.

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Denning uses the Brazilian government's scrapping of a 6% tax on foreign purchases of bonds to slow the slide in the value of the Brazilian currency, the Real, to point to the changed situation today for Brazil, India, Turkey and S. Africa. Current account deficits in these countries are high, and foreign investors sentiment about emerging markets may be affected by the street protests in Turkey, reducing inflows of capital. The mining worker protests in S. Africa and the street protests in Turkey, have led to a decline in the currencies of the two countries. The Fed's quantitative easing program may be coming to a close, which would reduce the flows of capital to emerging market countries. Turkey has seen a boom in domestic credit supported partly by foreign capital inflows. The current account deficit to GDP ratio for Turkey is expected to be 7.28% in 2013, for S. Africa 6.46%, and Brazil 3.25%, according to IMF forecast.

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Growing protests in Brazilian cities of Sao Paulo, Rio de Janeiro, Salvador, Curitiba, Belem, Brasilia, over inflation and the cost of living, government lavish spending on soccer stadiums even as public services of transportation, education and health care are being neglected. Tens of thousands of demonstrators gathered with one estimate of 100,000 for protests in Rio. The protests started with the Free Fare Movement in Porto Alegre, which calls for lower transportation fares, organizing demonstrations against an increase in fares.

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India's crude oil imports were sharply higher in 2011 and 2012. India's imports of crude oil for the first 11 months of the 2012 fiscal year ending March 31, show a 40% increase over the same period in 2011 fiscal year. India's import bill was $128 billion for crude oil imports for the 11 months of fiscal year 2012. Indian subsidies to lower prices for fuel are $30 billion annually. The higher prices for crude create inflationary presssures in India and restrict economic growth.