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LyrArc brings in selected articles from many of the world's top publications.

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WSJ Original article ›
LyrArc Article Gist
The higher US tariffs ranging from 41% to 345% on Vietnam, Malaysia, Thailand, and Cambodia will make it difficult for China to use these countries for factories that then dump highly subsidized product  (solar panels, other product) in US markets, at prices that are below production cost. India and the US are nearing a trade deal that gives India a chance to become a major manufacturing center for fair trade supplying the US. India will plan a partnership with US in which US goals and manufacturing are supported while at the same time making some parts at cost competitive with China.

DW.COM Original article ›
LyrArc Article Gist
It is no longer true that India cannot take care of it better. Advances in technology accessible to India and work with other countries including the French who have advanced restoration technologies, give India an even better ability to take care of important monuments that form part of its cultural heritage. This is particularly true of the Buddhist heritage and the Buddha shrine from the Amravati monument in southeastern India. People in Andhra Pradesh who have seen this Buddhist heritage displayed in the British Museum of ancient Buddhist sites near the Krishna and Godavari rivers are struck by how much India needs these architectural and historical pieces that form part of the Buddhist period in India. Buddhism started in the Indian north, spread to southern India before it spread to China, then Japan, South Korea and Vietnam. To understand India for 1.2 billion people it is essential to understand Buddhism and its development, the Sankracharya effort to revive the Advaita Vedanta during a mature period in Buddhism in India and the development of culture, institutions and society. The collapse of the original ideas of Buddhism and the original ideas of Advaita Vedanta with the many creeds and sects of India, laid the ground for foreign powers in India. Much of the nineteenth century and the twentieth in India sees the effort to revive these original ideas in their pure spirit. ...
The Economist Original article ›
LyrArc Article Gist
Global supply chains in industries such as clothing and other consumer items, in autos, and in tech products are changing as the shift away from China continues with the Trump administration's tariffs war. The clothing and other consumer products manufacturing is shifting away from China. Auto production is centred on regional hubs for manufacturing under renegotiated trade agreements such as the one that replaced NAFTA in North America, correcting imbalances in wages and U.S. content. Mexico gets to stay as a auto hub with exports of $50 billion in 2018 but under new rules that the Trump administration sees as fair. India is being considered as an auto production hub in Asia. In tech products China continues to have an edge but this is changing gradually. Samsung has built a huge smartphone manufacturing complex in Vietnam. South east Asia is a beneficiary, so is Mexico. In the future India stands to gain as its manufacturing base expands and infrastructure develops. In this changed scenario China will be moving to produce more advanced technological products, as it shifts away from lower end products. This will also correct some of the grossly unfavorable trade imbalances that have developed with the U.S. ...
New York Times Original article ›
LyrArc Article Gist
Senate Foreign Relations Committee chairman's view of Afghnistan differs significantly from New York Times correspondent Filkins understanding from years of reporting going back about a decade. Filkins sees the complexities of Pastun country inside Afghnistan and Pakistan and the military and ISI's involvement, and other correspondents have pointed to the narcotics trade and corruption. Kerry's simplistic view is that the Taliban do not enjoy much support, when actually Americans are seen on the ground as foreign occupiers. These correspondents in the field point to this as an everpresent danger, which would tilt support to those fighting foreigners, with nationalist and Muslim sentiment prevailing over everything else. And Kerry appears to be too willing to dismiss allegations of narcotics involvement of the Karzai administration with the "show me" comment. For critics of the Bush administration this is simply astounding, when so much is at stake. Does patient mean digging in one's heels slowly? But that is how the Vietnam intervention ran into trouble, without public sentiment in support of the plans....
Wall Street Journal Original article ›
LyrArc Article Gist
Coal India, is a state run monopoly which is a huge stumbling block for India's economic development. India lags behind Brazil, Indonesia, Thailand, Vietnam and Malaysia in the percentage of the population having electricity. Production methods do not use modern technology similiar to mines in other countries, and the average age of the 333,000 employees is 45-50 years. An eight hour shift at some mines produces as much coal as a mine in the U.S. does in 5 minutes, because of the lack of modern technology. About 300 million Indians lack electricity. The Modi administration's focus is on improving efficiency, introducing competition, and bringing major technological changes to the coal industry. Piyush Goyal, India's Coal minister faces one of the biggest challenges in the Modi administration. His focus is on efficiency, and the Modi administration has set a target of 1 billion tons for 2020, a 15% increase in production each year for the next 5 years.
The New Yorker Original article ›
LyrArc Article Gist
EIA says half of the benefit of higher fuel efficiency standards for Automobiles 2010-2020 in US was lost because of SUV's and the incentivizing of SUV's in the 2006 CAFE standards have made things worse. The first SUV's came in the 1980's. By 2004 SUV's made up half of car sales and by 2025 outsold cars 2 to 1. What if we took all SUV's and large cars off the roads, or even some of these SUV's by deincentivizing of SUV's in the US CAFE corporate fuel efficiency standards? What would be the savings in crude oil and in carbon footprint? Would it be about the same as releasing an additional 400 million barrels of oil into the markets in addition to the 400 million barrels that are now released through EIA and member countries? This New Yorker essay touches on this idea. During the Iran war the volatile Middle East as a source of oil supplies is a major problem for countries. Some are rationing supplies and in one country 40 million children are not going to school for 2 weeks starting this week because of the sources of oil are so precarious, government offices will only have half of the employees, the rest working from home (almost like Covid pandemic). Many other countries face that situation. The International Energy Agency recently reported that, if “SUVs were an individual country, they would rank sixth in the world for absolute emissions in 2021, emitting over 900 million tonnes of CO2.” The agency says governments must redesign their CAFE standards and their policies so that it would reduce S.U.V. sales, tax gas guzzling vehicles. EIA cites governments in the EU doing this- “Some governments have already started introducing relevant measures, such as France and Germany, which have put a tax on large and high-emissions cars.” Within SUV's also there is an opportunity to reduce the size and make more efficient space utilization designs. Small savings also add up. One has to realize that the current freedom to use energy freely in places like the US with self sufficiency in oil comes with a sense of responsibility for using it wisely so that it can be exported to cut the trade deficit, precisely what the president is doing with India, to cut a trade deficit of $58 billion before it gets to $100 billion. Section 301 is already in place for investigations by the US of 18 countries for a new basis to use tariffs after the Supreme Court decision. A similar approach is taken with EU for hundreds of billions of reductions in trade deficit that will only strengthen the US dollar and the US economy in the long run , and be good for stock markets and jobs as it reduces oil prices and increases the manufacturing capacity/cost for the Nation. Europe, India and China can do the same. Remember that in 2010 SUV's made up 17% of total world sales, and by 2025 SUV's made up 46% of world vehicle sales. This would create another 400 million barrels for the oil markets, which would triple what was released through EIA  this week to 1.2 billion barrels and this would create 120 days of supply replacement for the 10 million b/d lost from Straits of Hormuz, and effectively end the Iran War as it would be clear that prices can be kept low even in the $50's. Essentially buying time till the SU can get more production in Venezuela and other parts of the world to replace much of the Middle Eastern oil that is ending up in a quagmire. This is the best way for the US and Europe, India, China to ensure jobs growth, economic growth with low cost crude oil in the $50 range and ensure much of the poorer countries like Egypt and Indonesia, Vietnam, Sri Lanka, Pakistan, Bangladesh, have access to oil at prices they can afford and eliminate poverty. ...
dw.com Original article ›
LyrArc Article Gist
Germany's DW.com says in this report- "However, economists have pointed out that the US benefits from having large trade imbalances with the rest of the world, as the dollar is used in most trade, and offers major tailwind effects to the US economy." Which economists one must ask? Most of these economists had turned their back on the working people in factories in America, on their wages turned into a downward spiral, on their jobs, their factories lost for three decades. Today the American people have a sense of the true cost of this colossal failure to protect American workers and small towns across America depending on manufacturing. The pandemic exposed the risks of supply chain shocks and inflation by overly concentrating manufacturing in China.  The US has 1 trillion in trade deficits each year and it is completing the destruction of manufacturing in the US. Half of this is with China as China exports through Vietnam and Mexico, third countries, in addition to 295 billion dollars of trade imbalance the US has with China. China, Mexico, Canada and Vietnam are the largest offenders. No country can long endure with such a loss of its manufacturing base. The US Navy itself is in danger without the manufacturing to compete with China that has taken up over 50% of shipbuilding, and soon will not be able to protect the free world if these types of economists and self serving German or other foreign interests drive a false narrative. Without the US Navy in the Pacific, Atlantic and Indian Oceans no one is safe, not Germany, not the EU, not India or the rest of the world. ...
WSJ Original article ›
LyrArc Article Gist
The WSJ provides a fact check of Trump statements on crime, debt, and taxes. Trump says he is looking at a new plan for taxes not the $10 trillion in tax cuts over 10 years reducing tax collection by 22%, but something about a third of the size. No details are available on the plan. WSJ disputes Trump's statement that the U.S. is "one of the highest taxed nations in the world." WSJ points out that the U.S. in 2014 for federal, state and local government taxes collected 26% of gross domestic product in taxes, compared to average of 34% for about 30 countries, according to OECD. Debt to GDP ratio is about 75% that is high, but because of low interest rates the budget deficit is less than 3% of GDP, which is close to the long run average. For this reason economists say the government should invest in infrastructure and R&D that supports long run economic growth. On crime the record is mixed with increase in Chicago, Los Angeles, and New York City, but decreases in Washington D.C. and Baltimore. Police shootings were 67 in 2016 compared to 62 in July 2015, and the high being 280 officers in 1974 when Nixon was President. Crime was an issue in the 1968 Republican National Convention during the Vietnam era protests, police shootings and terror incidents attracted attention in July 2016, yet the situation today is very different from the war protests of the Vietnam era. On terrorism fact checks by the NYT and in Lyrarc shows Clinton at State Department and Panetta at Defense Department taking hawkish stands only to hit a barrier from President Obama for taking action needed in Syria, Iraq and Libya. Panetta's new book calls for robust action where needed. A Clinton administration would take action with allies in the Middle East. Even Hollande and Obama who pulled the U.S. and France out of following up in the French-British Sarkozy-Cameron led intervention in Libya, have changed policy, with Obama calling it his biggest mistake. France under Hollande with the U.S. is now actively engaged in the Middle East, having changed policy. It is highly unlikely that a Trump led policy which alienates most allies in the Middle East- Iran, Iraq and Saudis- is likely to work better than a determined Clinton-Panetta led effort which has support of the local countries on the ground actually currently on both sides because of complexities of Middle Eastern politics.  On trade a new administration will still have to work with China, India, the European Union, and other countries, as global trade supply chains are not likely to evolve overnight. Lessons will have been learned by Clinton about the need to bring back jobs and ensure the strength of U.S. manufacturing. Economic and jobs growth will require prudence in strengthening U.S. manufacturing coupled with global cooperation, which a Trump administration that alienates trading partners without the possibility of making any serious immediate gains in jobs, is highly unlikely to do better.      ...
WSJ Original article ›
LyrArc Article Gist
China's exports to all countries surged in November by 21% from a year earlier. Chinese made consumer goods and electronic goods were the main products with increased exports. According to WSJ calculations November exports were up 10% to the U.S. and 46% to Asian nations in ASEAN trade group of countries. Some of the exports to ASEAN including Vietnam and Malaysia find their way to the U.S. New tariffs by U.S. on China lead to some products diverted to Asian destinations and reexported to the U.S. China's imports of goods from the U.S. were up 33% from a year earlier but imports of farm, energy and other products and services were below what was expected under trade deals. Experts say Chinese imports of goods covered in the agreement were 55% of the year to date targets. The Biden administration will leave the tariffs on $370 billion in Chinese goods in place. China is not expected to make up the gap by the end of 2020. Experts also say the exports of Chinese goods has accelerated during the pandemic in 2020 and with the size of the second wave in the U.S. In 2021 U.S. imports from China should slow as the U.S. manufacturing recovers following the vaccination effort.  Also expect increased focus on the trade gap as U.S. trade policy continues to focus on closing the trade gap and continuing policy of the Trump administration. ...
WSJ Original article ›
LyrArc Article Gist
This opinion of the Editorial Board of WSJ says it is not clear why Taiwan has been excluded from the Indo-Pacific Economic Framework that includes most of South East Asia including Indonesia, and India, South Korea, Japan, Australia. The Biden administration plans to deepen economic ties with Taiwan. WSJ says this is a mistake and Taiwan should be included in the new Asian alliance led by the US. IPEF is a Asian alliance built around 4 pillars of digital economy, transparency and good governance, Asian security and rule of law, and rapid economic technological progress. Biden administration Commerce minister Raimondo says it will increase investment in the alliance countries for supply chain renewal and shift of investments away from China and into India, Vietnam. President Biden and Jake Sullivan see it as pulling in investment into the US for infrastructure and technology and into allies such as India who have the pool of manufacturing workers to compete with China in a new supply chain. Mr. Modi also sees it as he is focused on digital economy, good governance, and infrastructure with speed and scale at high levels to match rising aspirations for the economy in India. It is designed in a way that lets US, Japan South Korea and India to fill in the needs and strategies over the period to 2030 and 2040 so that US and Europe and the Free World in Asia and Latin America, Africa can preserve democratic values with matching technological and economic strength. ...
Le Monde.fr Original article ›
LyrArc Article Gist
  We show her the view from Europe on Ukraine in Feb 2025. Francois Hollande leader of the Socialists in France and former president says that the United Kingdom, France and Germany must be at the forefront of genuine European security. In this long interview he answers questions from Le Monde. He says US may withdraw its 80,000 troops from Europe in NATO. This will require European forces and European nuclear deterrent. In 1966 De Gaulle's successor president Pompidou said- "France must be returned to itself. Thus we are serving Europe and preparing the re-emergence of Europe so that it can play its part. Do not imagine that we are changing sides. We are against hegemony and so do not intend to favour Soviet hegemony, nor does our attitude towards the war in Vietnam encourage Chinese hegemony in that part of the world." Hollande says if this US withdrawal of troops from NATO happens will Article 5 will then apply to Europe? Hollande's answer is "it is upto us to prepare. Even without him."   On Merz's election as Germany's leader- Hollande says we will have to broaden the geographic scope of our deterrent force. Merz has expressed interest in nuclear deterrent from partners UK and France, France having proposed to Germany a mutual nuclear deterrent under president Pompidou, a successor to president De Gaulle in the 70's. ...
WSJ Original article ›
LyrArc Article Gist
How quickly the wind's direction has changed. For decades since 2000 American companies moved operations to China for manufacturing upto a point where there was over concentration and risks in the supply chain seen during the pandemic and as US- China relations diverged on issues such as Hong Kong, Taiwan, Ukraine. This report looks at the US companies shift to looking for ways to shift operations to India, Vietnam and other locations.

In an annual survey 30% of American Chamber of Commerce in China companies out of 360 respondents are shifting their operations for manufacturing to other countries from China. About 25% of tech and R&D companies said they had already begun moving their supply chains out of China.

WSJ Original article ›
LyrArc Article Gist
The US president has invoked emergency powers that relate to national security based on the fight against fentanyl -with 490,000 American lives lost over 12 years, 5 times that in the Vietnam and Korean Wars combined. And based on enormous trade imbalances that relate to national security with China having $1 trillion trade surplus 12 times the next highest trade surplus of $81 billion of Japan in 2007.

Note that appellate courts upheld the Nixon 10% trade tariffs based on invoking emergency powers also based on trade imbalances that time in the 1980's with Japan. The SCOTUS would be overreaching its judicial power to strike down the president on his main platform in the election, says one expert.

 

WSJ Original article ›
LyrArc Article Gist
The US and Japan are coordinating efforts to limit transfer of sensitive technology to China and increase trade and cooperation within the G-7 in high technology sectors. Efforts are being coordinated with South Korea. Janet Yellen says the IMF has overblown the effects on the world economy from the US decoupling from China. IMF reports have also in addition presented India incorrectly as a non aligned country, when it is a close partner of the US. In 2023 US is the largest trade partner of India.The US position is to limit flows of technology in sectors considered vital, and continue world trade in other areas with China. US is committed to friendshoring to India, Vietnam and other countries. Germany's three parties CDU, Greens and SPD are reversing close trade and technology links with China. This is also the policy of the Modi administration which seeks close trade and technology ties to US and EU. The shift is in response to what is really an overconcentration of the supply chain in China that happened as business in the US and EU and the Merkel and the Bush-Obama-Trump administrations failed to see the risks of overconcentration. And carried out misguided policies in trade and investment that are now being reversed by US president Biden, Kishida in Japan, and Modi in India. ...
Wall Street Journal Original article ›
LyrArc Article Gist
Henninger points out what he sees as the problem Democrats in the White House have faced since the days of Lyndon Johnson and Vietnam in this WSJ editorial commentary. Under Warren, O'Malley, Clinton or Obama, he sees the response being the same- of lettting a crisis develop to the point where America faces the use of overwhelming power to not acting at all, with no action in between. More likely that the U.S. would find itself on the east side of New York at the UN if that were to happen, says Henninger.
DW.COM Original article ›
LyrArc Article Gist
The 2022 industrial trade fair in Hanover, Hanover Messe, is covered here in DW.com with 2500 exhibitors showing how they are responding to a changed world after the pandemic and the Russian invasion of Ukraine with support from China. Export oriented companies have to rethink their strategy says Thilo Brodtmann, the executive director of the German Engineering Federation, Supply chain disruptions and the pandemic have led to many German companies reexamining their reliance on Chinese suppliers. Human rights and democracy are now part of the reorienting of business in a new direction. The war in Ukraine is also having an impact. Reducing CO2 emissions is also a major part of the reexamination. Chancellor Scholz told the Hanover Fair at the opening ceremony -"We need to bring along with us emerging and developing countries, whose demographics and economic dynamics are turning them into new centers of power." Brodtmann says the solution is "to become independent and to have a completely different value chain." The head of the German Associaltion of Electrical and Electronics Industry Wolfgang Weber says "I'm quite sure that German companies are ready to invest in any of these countries in Asia, Latin America, and Africa to diversify their supply chains." However such new markets are not very well represented at the Hanover Fair, so that policymakers and German business have a lot of work to do to open up new markets across the world in Asia, Latin America and Africa. India, Indonesia and Vietnam are considered to offer good prospects for diversifying Germany's supply chain and a lot of work needs to be done. ...
dw.com Original article ›
LyrArc Article Gist
Japan's acute shortage of labor has even spread to the government sector says this report in DW.com. Japan's aging population means a growing need for immigrants from Vietnam and other countries. Nursing, elderly care had shortages which have spread to construction and delivery business, taxis, forestry companies and train operators. Many jobs remain unfilled. It is a situation the US may also experience in a few years as it is feeling the effects of shortages of workers in industries such as hospitality. NK Logisitics Research estimate is that 34% of goods will remain undelivered by 2030 because of lack of transport workers, that is 940 million tons of goods undelivered every year. Already taxi drivers have shrunk by 40% from the peak in 2009. Japan's immigration policy planned for an influx of 345,000 skilled workers over 5 years in 2019 but this came a bit late as the pandemic delayed the influx. Now it has a new urgency. Even with the influx of new immigrants Germany has 1.6 million jobs unfilled according to DW.com citing research in an accompanying article on German workers in today's Lyrarc.com. The US needs an organized program of immigration to attract foreign workers yet the influx from Venezuela of mostly middle class educated people into the US through  events no one had foreseen or expected may years from now be seen as meeting the needs of sectors in the American economy that needs good workers, in the same way that Japan and Germany see their economies and worker shortages. ...
Le Monde.fr Original article ›
LyrArc Article Gist
Le Monde gives a detailed look at the origins of the RN and Marie Le Pen in her father's party the Front Nationale that had it's origins in France's War in Algeria. It's first success was in town councils in the south east Cote de Azur where former French Algerians had settled in large numbers. Jean Le Pen was the son of a fisherman in the Brittany region who lost is life hitting a mine during the war in Occupied France. He was a teenager at the time and is shown here as a ward of the state. He tried to enlist in the War in Vietnam but got there just after Dien Bien Phu and worked in Saigon for a newspaper Caravelle. He returned to France and joined a paratrooper unit in the French Air Force during the Algerian War and became an opponent of De Gaulle's policy in Algeria to decolonize the region. He inherited the fortune of a French cement manufacturer who supported his party FN. Chirac and Sarkozy become his opponents. For 20 years after this he is shown to win anywhere between 2% and 10% in European and French presidential elections. His daughter Marie Le Pen and her supporters decided to rebrand the party as Reassemblement Nationale RN and win as much as 15-20% and more recently 30% of the vote in presidential and EU elections. The fatigue with Macron leads to a surge in RN support in small towns and rural France. Marie changes her stance on the EU willing to support the EU. ...
Wall Street Journal Original article ›
LyrArc Article Gist
Soren Skou, the head of the container division of Demark shipping line A.P. Moller Maersk A/S, says the volumes worldwide are expected to increase by 4% in 2012 over the prior year, compared to the 7% increase in 2011. This reflects the deteriorating conditions especially in Europe for goods from China. China is also losing competitiveness in relation to countries like Vietnam and Bangladesh for shoes, toys and labor intensive goods. Tim Smith, Maersk's head for the North Asian region, says the container shipping industry will see annual growth slow from double digit increases to somewhere between 5 to 7%.
Washington Post Original article ›
LyrArc Article Gist
Carlin and Lewis call for a reconsideration of US policy towards North Korea. They have visited North Korea several times, and say that Americans are as isolated from the North Koreans as the North Koreans are from the rest of the world. America once saw China and Vietnam as countries with which America found it impossible to engage, today it is N. Korea, say Carlin and Lewis. They also point out that with China's support on a long term basis, US hopes that North Korea will simply collapse is a weak reed to base US policy on.
Wall Street Journal Original article ›
LyrArc Article Gist
Samuel Palmisano on the internationalization of IBM getting into 50 developing economies in the world that have great potential in the years and decades ahead and positioning IBM early on to take advantage of the growth by helping build infrastructure, education, and becoming a real partner for these countries and building a talent pool in these countries and building human resources, r&d capabilities. Countries like Egypt where IBM is growing fast and which has significant potential in addition to India and China. And building local centres for Brazil, the Middle East, Latin America, Africa and Eastern Europe. Countries like Bulgaria and Vietnam.
WSJ Original article ›
LyrArc Article Gist
Shehbaz Sharif 70,  is the younger brother of a three term prime minister of Pakistan Nawaz Sharif. He ran Punjab province, the country's largest state when his brother was prime minister. In this way he brings substantial experience to the problems of the economy that now face many developing economies such as Pakistan.  First on the agenda is to normalize relations with the US, rebuild ties with India, and restart negotiations with the International Monetary Fund. Pakistan faces severe inflation of 14% and devaluing currency that makes imports costlier as the foreign currency reserves have dropped to alarming levels of $24 billion when annual import needs are at about $56 billion. This has a direct impact on cost of living, standards of living and on industry. Shehbaz Sharif understands the situation and has said restoring the economy "will take effort, effort and more effort." A similar statement has been made by Mr. Modi in Hindi "sab ka viokas, sab ka prayas" which also mean effort, effort and more effort, which all of South Asia and Bay of Bengal, and South East Asian countries needs considering the impact of Covid pandemic, and now inflation from the war in Europe hitting food supplies. The situation is grim in other parts of South Asia- in Myanmar, in Sri Lanka, in Thailand, Malaysia, Vietnam, Indonesia. The popular sentiment is also shifting as seen in the Indian part of the old British Punjab province. Mostly Sikh this part of old Punjab state in India made a complete change bringing in a new party Aadmi to improve the economy and provide good governance. In this situation all governments are expected to deliver on good governance and the economy.   ...
WSJ Original article ›
LyrArc Article Gist
Food inflation is affecting a wide range of countries not just poor countries. Even in the US where on average only 7% of the income of households goes to food, for poor and lower income households this can go up to over 30%. In Turkey with a high inflation rate of 80% in June over prior year, the problems of food inflation are severe. Turkey, Egypt, Tunisia and other Arab countries get most of their wheat from Ukraine and Russia through Black Sea ports. Across Asia the situation varies with less food inflation in countries that are self sufficient in food production such as China, India and Vietnam, to countries such as Sri Lanka where inflation is severe and takes up most of the budget for ordinary families. Lebanon is an extreme example with the collapse of its economy and 332% inflation with food inflation severe. Ethiopians spend about 45% of income on food. Somalia faces drought conditions and severe food shortages. This part of Africa is the most fragile and most prone to breakdown. Being self sufficient in food was an important goal for countries that faced famine in the past such as China and India- this has produced good results. Even in Europe small countries that make their own food with agriculture getting importance such as France and Switzerland the benefits are immense. Switzerland food inflation is as low as 1.5% lowest in the world. Where as in Africa this importance of agriculture has been neglected the consequences are seen today. In Latin America Argentina and Brazil are exporters of soyabeans and other food. This helps insulate them from the worst effects of the food crisis.     ...
DW.COM Original article ›
LyrArc Article Gist
Japanese prime minister Fumio Kishida  holds talks with Indian prime minister Narendra Modi in New Delhi. Japan has pledged to increase trade with India with $42 billion in investment in India over 5 years. In the 20 years 2000-2019 when Japan invested heavily in China, Japan invested only $32 billion in India. The US and Germany also invested heavily in China, compared to the investment in India.  Business in the US, Germany, the EU, and Japan integrated their economies with China over two decades. The Trump administration brought attention to the US working class and the effects of trade and investment that hurt workers in the domestic economy. The election of Biden in the US, Scholz in Germany and Kishida in Japan have shifted focus to the working class, inequality, lack of infrastructure investment in the domestic economy, and the effects of business decisions that cost jobs in the domestic economy. It is in this context that foreign investment is being shifted to India, Vietnam, and other manufacturing locations in Asia as the entire world supply chain is being reinvented to protect workers in the domestic economy, and the local economies. The pandemic and the war in Europe are now accelerating the reinvention of world supply chains. Indi abstained from the vote in the United Nations on Ukraine yet it maintains that all disputes be settled through peaceful resolution under international law. The joint Kishida Modi statement says- "We confirm that any unilateral change in the status quo cannot be forgiven in any region, and it is necessary to seek peaceful resolution of disputes under international law." ...
NYTimes.com Original article ›
LyrArc Article Gist
It is about the fighting spirit of FDR and reviving and renewing the New Frontier of John F. Kennedy that was muddled by the Vietnam War. As Frank Bruni in NYT, and many others are saying US president Biden seen along with the team of Jake Sullivan at NSA, Anthony Blinken at State, Janet Yellen at Treasury, and Katherine Tsai at USTR, Pat Schumer Majority Leader in the US Senate and other cabinet members may be the best team in terms of experience and talent that the US has had in many decades, combining relative youth (Sullivan and Tsai) with many years of experience (Schumer, Yellen and the president). The president's experience in US Congress for about 40 years was invaluable in getting through Congress the Chips and Science Act, the Inflation Reduction Act, and the assistance to families during the pandemic. Only LBJ in recent post war American history had this kind of experience in getting Medicare and Social Security legislation through Congress. Combining this with the experience and negotiating skill for legislation of Pat Schumer Senate Majority Leader is something not seen since the 1960's. This team comes with a clear dedication and plan to restore democracy to the people by building infrastructure, rebuilding American manufacturing and protecting workers and families through cost of living action and higher wages. As Jake Sullivan NSA, a law clerk for Supreme Court Justice, and one who with the advice of the president has put domestic policy at the heart of foreign policy, puts it for workers and families in the US, these are goals he said at Brookings, "we must, we will achieve." Compare that with every other administration since FDR and Kennedy/LBJ for workers and families everything pales in comparison.  ...

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