LyrArc Article Gist
This report in the WSJ points out that any idea that China as the world's largest importer would support oil prices is misplaced. China's economy is recovering slowly but the impact of the falling demand in U.S. and Europe for Chinese products is likely to keep industrial production at low levels. Other than filling up for storage at low prices China is not likely to support oil prices which are now below $20 for U.S. WTI futures contracts for June. European benchmarks are also at levels similar to U.S. oil prices.

LyrArc Article Gist
At the G-7 meetings in Alberta, Canada DJT said the 2014 exclusion of Russian president Vladimir Putin, from the G8 after Moscow's unilateral annexation of Crimea, was a serious mistake leading to the war in Ukraine. "He [Putin] was insulted (...) Barack Obama and a person named [Justin] Trudeau didn't want to have Russia in. And I would say that was a mistake because you wouldn’t have a war right now" in Ukraine, Trump said in a discussion with journalists on the sidelines of the G-7 meeting with the Canadian PM Carney. This is a significant observation by DJT who understood better than Bush and Obama, Trudeau, what has preserved the peace in the world and the importance of US-Russia relations even after the end of the Cold War. This is true for DJT interaction with China also because DJT also maintains that despite China's assertion of rights in Hong Kong, despite the outsourcing of industry to China and Make In America, US-China relations are important for peace in the world. ...

LyrArc Article Gist
Analysts point to the problems with thin film solar technology- lower energy conversion rates of 15%, and quality issues. As a result its market share has remained at 10%. Analysts say Hanergy global market share in thin film is insignificant. Yet its share price soared before declining by 46%, on the basis of its claims for thin film technology. It is a sign of the nature of the Chinese stock market with share prices having a tendency to jump and decline with reports of new technology.

LyrArc Article Gist
As president Jinping begins a second five year term his focus is on the small communities like Chashan, only a 6 hour drive from Beijing, that were neglected in the rush to industrialization. He has vowed to get rid of poverty in China by 2020. About 43 million people live in rural communities that have mostly older people and live on 95 cents a day. There is another challenge say experts which is the much larger popuation that lives in rural and urban areas- including urban migrants without property and residence rights- who live on less than $5.50 per day, $165 a month, according to the World Bank. This is about 1070 yuan per month, or in Indian rupees for a comparison with India- which was at a similar stage of development in 1990- of Rs 10,000 per month. About 40% of China's population or 560 million people are in this group. With a rapidly aging society as a result of the earlier one child policy, China faces the risk of not advancing from the level of a middle income country, in the way that South Korea and Japan have moved to levels similar to Western Europe and the U.S. As China's growth level slows and with an aging society this remains a major challenge. As this report shows there is great pressure on local officials to eliminate the poverty level of people living below $30 or about 200 yuan a month, as targets are set at local levels and corruption weakens the effort. There is concern at the lack of an effort to improve the living conditions of the 200 million rural migrants living in cities, who under China's "hukou" system are not considered residents and are not getting education and health benefits. ...

LyrArc Article Gist
Questions about the whereabouts of Masataka Shimizu, president of Tokyo Electric Power Company, which owns the Fukushima nuclear plant. Shimizu was last seen in public appearances at a news conference on March 13, 2011. The chairman of the upper house of Japan's Diet, the parliament, calls this "inexcusable." The governor of Fukushima prefecture, Yuhei Sato, tells Japanese television that the people there cannot accept apologies, "because their anger and anxiety are extreme." Protestors walk past Tepco headquarters, chanting "No more Hiroshimas."Toko Kanoh, a former Tepco vice president, and for 12 years member of the Diet upper house, says Shimizu should talk to the public as soon as possible. This kind of disappearance is not uncommon in Japanese corporate circles. During the Toyota recall crisis, the chief of Toyota was also unavailable. Shimizu like other senior executives in the corporate elite is a lifer, having joined Tepco at 23, after graduating from Keio University. Because of the size and influence of Tepco, it produces one third of Japan's energy, he is also vice chairman of the Nippon Keidanren, the Japan Business Federation. Shimizu's role at Tepco was marked by an effort to restore profitability after the 2007 earthquake that damaged a nuclear plant. Shimizu decribed Tepco's core mission in the last annual report as "cost-cutting. He describes the need to construct "disaster resistant nuclear power stations," but at the same time in somewhat of a contradiction, says that the company had cut the cost of inspections not "by postponing them but by reducing their frequency." Just as Toyota went through a wrenching crisis after cost cutting and insulated corporate executive behaviour, which combined with technology and user behaviour put its safety reputation in risk, Tepco finds itself in severe shock. Tepco has lost two thirds of its value on the Tokyo stock exchange, and is looking for $25 billion in emergency loans. ...

LyrArc Article Gist
Delicate labor relations cause nervousness at Moodys and the rating is lowered for GM in Feb 2006, for a second time.