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Obama Affordable Care Act ACA and its downfall are covered by two experienced authors over 2 book written over 2 decades. The authors are James Morone and David Blumenthal followed the healthcare issue over 25-30 years through the Clinton, Edward Kennedy and Obama efforts and wrote two books. The first was "The Heart of Power" on the healthcare situation from FDR to 2008. The last titled "Whiplash" in 2026, for which the authors are interviewed in Harvard Medicine magazine. C-SPAN has a book program on this book at a Washington DC bookstore. From the discussion on C-SPAN between Senator Michael Blumenthal, borther of one of the authors, James Morone and David Blumenthal physician, couple of conclusions are seen that may be new to readers. Q. What was the one single factor that doomed the Affordable Care Act? A. The deep antipathy towards the Obama administration influenced the response to the Obama handling of healthcare. The likelihood of Republicans accepting healthcare from a black person was simply not there say the book's authors in the discussion and Q&A on C-SPAN. Yet there were other reasons for the ACA failing. Obama had not gauged the mood of the nation well. UK Labour's Starmer won by a big majority in 2024 yet that does not reflect the mood of the British nation just 2 years later- by election year 2012 Obama's campaign was faltering and had to be rescued with Hispanic votes and a weak candidate in Utah's Mitt Romney. Obama lacked maturity and came in the way Bush came in when the list of candidates were mediocre in the US, similar to the period in the UK with David Cameron and Boris Johnson. To take on the health care issue required someone with the experience and caliber of LBJ, which Obama clearly lacked, coming from the minority community was not going to help in credibility. Obama's presidency was thus premature and to gain experience he would have done better in a key cabinet position such as at Department of State where an intellectual could have influenced world opinion in favor of emerging countries, a doable and necessary. Obama's lack of experience showed when he told Republicans two words in the first months in 2008- "We Won," perceiving arrogance it would set Republicans against him. The years 2008-2016 cost the US dearly in that the US needed a withdrawal from all of the Middle East which would require a strong president  with deep roots of support in all parts of the country including the south, to avoid recriminations. In the end by continuing the wars Obama weakened the US and let China move ahead. Q. Did Obama consider Medicare for All? A. Obama told Congressmen of his party according to Morone- if you can get 60 votes in the Senate for Medicare for All we can try.  Q. Would it take a major upheaval for Medicare for All to be accepted now that the health system is failing all Americans in 2026? A. It will take a world war or a economic depression- some major disaster for Medicare for All to be accepted in the US, say the authors. A pandemic happened in 1918 and again in 2019 the results were not positive, as the authors believe it unleashed the war on science after the vaccination for and against camps, leading to the culture wars in America seen today. Q  Obama's analytical mind thought he learned from the Clinton efforts in healthcare that failed. But he did not see things from the heart. There is good reason to think that the lessons learned of moving fast, letting Congress write the legislation, settling for what can be done not what needs to be done, were exactly the wrong lessons to be learned as opposed to writing off the Clinton experience entirely as Clinton's, and starting from scratch without preconceptions. In the end Obama if he was older, had more experience, and listened to the mood of the country would have realized that healthcare was for another day, and got right down to the most difficult challenge, to end the wars in the Middle East. Even small steps in the right direction would still have earned appreciation him today. Instead Bush and Obama, the most inexperienced of presidents will be remembered for wars they continued that weakened America.       ...

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Netherlands ASML machine lithography technology not available to China because of export controls by 2026. China uses a stacking technique for chips which is less reliable. This could leave China lagging TSML of Taiwan by 3 year, 2028 for TSML Taiwan to 2031for China PRC.

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The media in US and in Europe presents the US and China on a confrontational course little aware that there is quietly emerging a new trend encouraged by both leaders of the two world powers. "Strategic Stability" in US -China relations instead of China seen as a rival and a threat- is now the goal of Xi Jinping of China in 2026 US-China dialogues and meetings. This was abundantly clear during the DJT visit to Beijing August 14 2026 and will continue to shape relations during Xi's visit in September. This is different from the confrontational attitude taken by both DJT in the first administration and Biden in his four years in office. The result is that these tensions are being gradually brought down which started in 2014, were exacerbated by Covid pandemic in 2019, and were put to the test in 2025 with tariffs policies of the incoming DJT administration. A decade of mistrust now being replaced by  buildup of cooperation, establishing a sense of trust and friendship. Partly out of necessity and partly from choice.This was not secured by giving up on issues the US or China saw as important. US did not concede anything on issues of fentanyl entering the US from Mexico, and tariffs for reducing trade deficits. Similarly China did not concede much on issues it saw as important, mutual respect for China as a significant power, and seeing China's different system of government and industrialization as legitimate and worthy of respect. On Hong Kong and on Taiwan both sides decided to see ambiguity and live and let live as the best option. So that in 2026 nothing, not the Iran War or anything that happens in the Middle East is to be allowed to deter both sides from making the educated good and decent choices that are available to them based on attitude of mutual respect.  ...

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Republicans gave US Congress 63% rating when DJT was elected in Jan 2026- this has since dropped in Gallup polls to 20% in 5 months. Overall US Congress has only a 10% approval rating one of the worst in its history. Only once was this exceeded- in 2013 when Obama was president with the budget impasse and 16 day federal government shutdown.

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The U.S. Federal Reserve announced on Dec. 13, 2016, that it would increase its benchmark short term interest rate by 0.25 percentage point, to between 0.50% and 0.75%. The increase will also be reflected in business and household borrowing costs. The Fed also announced its intention to make 0.75% percentage point increase in 2017, possibly in 3 quarter percentage point moves. The Fed's forecast is for the fed-funds rate to reach 2.1% at the end of 2018, and 2.9% at the end of 2019. The Fed's policy is based on a sense of strong labor market with unemployment falling, and says it is based on discussion at a 2 day meeting, and "in view of realized and expected labor-market conditions and inflation." This reflects a view that there is now not that much slack in the labor market, that further improvements could trigger higher inflation. Fed forecasts for inflation are for it to increase from 1.5% in 2016 to 1.9% in 2017 and to the target of 2% in 2018. The unemployment rate of 4.6% in 2016 is forecast to go to 4.5% in 2017 and remain at that level till 2019. Economic growth is forecast at a median annual rate of 1.9% in 2016, 2.1% in 2017, only a slight improvement from last forecast in Sept. 2016. Support for chairwoman Yellen's policy decision was unanimous. See the link on views of NYT's Binyamin Applebaum and Neil Irwin on how Fed rate policy and economic growth under the Trump administration is likely to play out, and Ian Talley's report on impact on exports with a stronger dollar in WSJ. These views also are in line with the Fed's forecasts and policy decision as they reflect the concerns of the Fed about inflation, and also reflect the Fed's view that growth will be close to 2% in 2017-2019, and not the 3-4% stated by Trump and Treasury Secretary Mnuchin. Fed rate policies to keep inflation at about 2% tend to counter stimulus spending by the Trump administration and effect of tax cuts. The size of the stimulus and the tax cuts are also likely to be much smaller than stated because of Republican concerns about the deficit in the U.S. Congress, according to these views. The stronger dollar also has the paradoxical effect of making trade gains more difficult while increasing trade friction in tougher bargaining supported by Trump, making the higher growth targets harder to reach.   ...

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The Washington Post showing which programs and which fields in the US lead to higher income growth over 15 year period. The studies have looked at 1 million graduates in American colleges over many years to see which programs have the highest payoff for young students. The conclusion is that education programs pay off at every level. It is based on data from 2008 for 89 public colleges in Texas, and is the most detailed so far.

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New Zealand grows from 3.8 million to 5.3 million 2000 to 2025  (40%) bureaucracy from 30000 to 64000 (113%). New Zealand has 39 Departments, UK 24, USA 15. New Zealand Finance Minister Nicola Willis says there are 39 human resource departments that can be consolidated. Minister for Youth, Minister for children , Minister for child poverty reduction, many different ministries often overlapping. Public service jobs grew by three times the rate of increase inthe private sector jobs. The plan is to bring it down to 55,000 by 2029 about the same percentage as it was of the population in 2017. It would be achieved by productivity and AI, closing offices, simplifying operations, attrition in the first 3 years.

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In a nutshell why the economy is lopsided benefitting some, ignoring many. Labour's (salaries of all working people including professional classes) share of gross domestic income is 50% in 2026 the lowest since 1947, and profits highest since 1950 at 12%. Then you have hourly wages up 3% since 2019, while profits are up 50%. Greg Ip of the WSJ says the causes are complex and implications sobering. He says you can be a red blooded capitalist and still worry- is something wrong or unsustainable? Political stability, good governance structures, good institutional structures that were set up since Lincoln (the beginnings for the Industrial Revolution), by TR and FDR/Frances Perkins (the basic institutional and good governance structures of modern America and now the industrialized world that allied labor and capital with fairness to all), the entire setup needs to be rebuilt and renewed. The problems are also appearing in Europe and causing dismay, with calls for rebuilding and renewal. ...

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After the turnover of administrations and prime ministers in the last decade, a new wave is taking place. By 2010 with prime minister David Cameron mediocre leaders are running Britain, and after Boris Johnson, Truss, Sunak and Brexit politics, a new wave of Labor party unraveling is taking place following the Conservatives unraveling and falling apart. This is reflected in the Mandelson affair and the lack of firm direction on immigration policy with boatloads of migrants entering the country and filling up hotels in rural areas of the country. The ECHR (European Commisssion of Human Rights) written for different situations by Europeans who had little grasp or respect for the British public's attachment to their own history, culture and traditions, were being applied by British Labor leaders such as Keir Starmer to migrants who had no connections to Britain. Migrant crime and protests about migrants has weakened a Labor government, weakening the British state and its economy. Within hardly 1 year after winning  elections for a majority government British prime minister Keir Starmer faces the prospect of stepping down. ...

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Why no new infrastructure building plan is in place in the US for decades as China, now India build new infrastructure every day with a Master Plan. The Francis Scott Key Bridge collapsed in March 2024 in the Baltimore, Maryland area. There was much hand wringing at the time and president Biden also stepped in with help. The Washington Post says 2 years later no plan is in place to build a new bridge. The cost keeps going up from $1 billion to $1.9 billion and up again to $5.2 billion, with the dates shifting 2028 to 2030. Maryland received $2.6 billion insurance payments for the damage to the bridge by a ship, yet the project is stalled in disagreements with different parties involved. Even in the streets of New York, the pedestrian pavements in Brooklyn and other places are so dilapidated but no one seems to care. Suggesting that New Yorkers are also numb to infrastructure being bad as it is, just as Mumbai residents were in the old days before infrastructure became a daily priority in India in recent years, following China's example. ...

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Gerard Baker of the WSJ writes about not getting involved in unnecessary wars and prudent interventions where necessary. He does not bring up the nuclear issue which is the only issue this war was about- is that a prudent intervention where necessary? The other issue is what the Anglo-Saxon,Saxon world and the Europeans think and feel about the Jewish state after the experience deeply unsettling  of World War II for western civilization itself. Throughout 2026 in Britain, UK, Australia and Canada, and in the  European Union, the people have stood by the Jewish people and the Jewish state while also respecting the rights of Palestinian people. Iran's hostility towards the Jewish state, to its elimination, is the reason for the conflict. Is prudent intervention necessary for the US in this context and what is the Anglo-Saxon and European attitude to defending western civilizations thoughts and sentiment?  What does a nuclear weapons state do to the situation in the Middle East- the Arab states and Israel? This is the main reason for the US involvement even as it is committed to no unnecessary wars. A naval blockade during Iranian closure of the Straits is not an escalation, the US did not bomb Kharg Island only imposed a naval blockade. The US is able to sustain this kind of blockade for a long period as it showed in Venezuela and shows in its backyard in Latin American particularly where it is essential that the US stop all drug smuggling on the seas. The Editorial Board of the WSJ has sent warnings to the DJT administration that it would be a mistake to not address the nuclear issue now and to separate it to a subsequent stage as mediators Pakistan and Turkey have arranged for reasons that are not in the US interest- because that would leave Iran to renege on promises and go for nuclear weapons  third time and repeat the failures of the Obama administration. It can be noted that the WSJ reflects the views of the business community in the US which is thoughtful and not prone to overreach or US interventions. Baker is not part of it after resigning as Editor in Chief in 2018. Yet the members of the Board include- Henninger, McGurn, Strassel, Riley, Finley, Noonan, Taranto, O'Grady, Jenkins and many others. It is unlikely that all of these members would have a drastic and strongly interventionist attitude. ...

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The broken world economy has hurt the American people, in small communities and towns across the US whose societal fabric was destroyed by a system of world trade with abuses done by China. Japan, European Union, Canada and Mexico since 2000. Shortsighted American leaders and economists allowed this to happen. Robert Lighthizer on the New World Order a new system of world trade that replaces the old in 2026. The old trading system was one in which lip service was made to free trade while all the time the system was used by Japan, Germany, China, Canada, Mexico and other nations to build non tariff barriers and other policies to support their industry  at the expense of the United States leading to disillusionment in the US. The facts are mind boggling- the loss of 5 million jobs, many small communities across the US decimated with loss of jobs. About 20 trillion in wealth transfers to China and other countries over 2000-2020, with foreigners owning $27 trillion more of US assets than the US owns of theirs. US Trade Deficits that went up by 40% in 4 years of the Biden administration from $800 billion to $1.2 trillion. Economists and weak leaders got it all wrong allowing this to happen from Geoge W. Bush to Clinton Bush and Obama. Lighthizer says "shortsighted leaders aided and abetted this process," from 1990 to early 2010. Consider that US had 17.3 million  people in manufacturing, in factories all over the US in 1970, in 1999 we had the same number of jobs, even though there were changes in technology and productivity- the US held its own with the rest of the world. The Bush, Obama years were the worst for the US industry - by 2026 we have 12.6 million - loss of 4.7 million jobs since 1999. And real median household income took a big hit growing from $72,000 to $84,000 about 17% in the last 25 years, compared to twice that in the period 1975-2000 prior quarter century. The result is the fracturing of American society- and dire consequences for healthcare as communities suffered from loss of jobs leading to drug overdoses, alcohol abuse and suicides, which are common in post industrial American communities. Think of this fact: two thirds of America's workforce that does not have a college degree, that is working class people, lives 8 fewer years than college graduates, a gap that was only 2.5  years in 1992. The wars carried on by Bush and continued by Obama in the Middle East also wracked these same communities till Biden and DJT pulled out. One has only to drive across America to see this with one's own eyes. Trade may be an abstract topic for economists and politicians- there is nothing abstract about this. And the economic growth of the US has suffered with the unfair trading system with China, European Union, Japan, Canada and Mexico. From 1945 to 2000 American growth was 3.2% a year. Since 2000 only 2 years of growth over 3%. US has not seen historically normal growth for the last 19 years and at this rate (if we continued along this path) the Congressional Budget Office says 1.8% growth for 2027-2035. There are other factors yet the the major driver of this is our trade deficit of $1.2 trillion dollars a year. It is a story of remarkable persistence in the Nation's interest through 2 adminstrations- this Lighthizer story. Lighthizer fought Japanese commercial interests as Deputy Trade Representative under Ronald Reagan, and as US Trade Representative under DJT in the first DJT administration in 2016-2020. His Deputy at the time is Jamieson Greer who is now the US Trade Representative in the second DJT adminstration in 2025. For 30 years this brave American patriot has fought to reverse the bad actions of presidents and economists that have led to devastating losses in the American countryside. He says any new trading system must be perceived as fair to working people. It will survive only if working people think it is good for them. It cannot and must entrench a small, permanent elite. The benefits going to labour must be at least as great as those going to capital. It should create fulfilling high paying jobs for the vast majority of the American people. This is America's new promise to its people, its new compact with its people. ...

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West Bengal gets a new start after 50 years of mismanagement, corruption and breakdown of law and order, and economic failures, with a new BJP Modi led administration. The speed of the changes are simply astonishing as a state of close to 100 million people -where industrialization never took off as it has in other states, and rural poverty exists in ways thought to belong to the colonial days under the British- gets an administration at the federal level under Modi committed to industrialization, modernization of the economy, on the same rapid scale as that launched in the rest of eastern India. This is a territory half the size of the European Union, once called the Bengal Presidency under the British Empire, comprised of states of Bihar, Orissa, West Bengal, Assam, and Andhra Pradesh, a region where the Ganges and Brahmaputra rivers from the mighty Himalayas flow into the sea. It is a low moment for India similar to the period after the Proleterian Cultural Revolution of Mao in China by 1970 and the few remaining leaders under premier Chou-en-lai making a resolute effort under Deng Xiaoping to make a new effort to modernize and industrialize China working with the US and the European Union. That effort went through the initial phase to 1990 to familiarize Communist China with the US and European market systems, and a new phase to 2010 by which time most of these goals had been achieved. India is poised to make that scale of change today over the next two decades as it is already familiarized with the US and European market systems and its net step is in technological advancement and rapid industrialization at scale something that alone can meet the aspirations of the South Asian region. ...

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NYT's Simon Romero looks at Cumano in Venezuela, and the breakdown of water, electricity,  industry, and education systems in this city. How efforts to solve inequality without a grasp of how a modern economy works can lead to something worse. And how good intentions are not enough, lack of understanding and knowledge of of a government (Chavez and successors), on how industry, infrastructure for water and electricity, education and healthcare works is dangerous. Immersion in the rhetoric (Chavismo) makes things worse. Appeals to Simon Bolivar (history), mass communication (Alo Presidente), religious symbolism (socialist motherland and victory) and us vs them, (the marginalized poor and the established elites), mean little and take an entire nation backwards for making industrial progress and infrastructure building,  creating a strong modern economy. It in fact turns out to be dangerous and counterproductive, breaking up the very productive forces that are needed to build a modern economy. The Japanese visited and carefully studied the US transformation into an industrial advanced economy in the 1890's Meiji era, the Chinese visited and studied the Japanese plus the US transformation into industrial advanced economies in the 1990's, and Indians visited and studied the Japanese, Chinese, and American transformation into industrial advanced economies by 2014 in Gujarat State, to spread that model to all states to achieve the goal of building infrastructure, manufacturing, and modernization. America made some careful choices under Lincoln, TR, FDR, Truman and Eisenhower to achieve this transformation. Bringing factory labor, farmers, professional classes, and factory owners together under FDR with his first experiment in New York state building modern institutions with Secretary of Labor Frances Perkins, and industrial interests, then repeating this across 51 states in the Union as president of the US. Frances Perkins documents this in her book "The Roosevelt I Know." ...

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India's Ministry of Finance predicts GDP growth of between 7 and 7.5% for 2018-2019, after faltering GDP growth in 2017-2018 following action on demonetization and introduction of a national Goods and Service Tax. The IMF predicts growth of 7.4% for India in 2018 compared to 6.8% in China in 2018, with growth of 7.8% predicted for India in 2019.  Chief Economic Advisor Arvind Subramanian says there are "robust and broad based signs of revival," though risks remain in rising oil prices and inflation. The level is below what it could be, yet robust considering the policy actions taken by the government for the long term such as the nationwide GST implementation, which was taken up by previous administrations of both parties in government but never implemented till 2017. In addition the government faces the tasks of recapitalization of banks, the issues of job creation as manufacturing in India in the global context is only beginning to take shape, and agrarian distress.  The new Budget takes up the issues facing rural areas of the country by compensating farmers to the extent of 150% of agricultural cost and introducing the largest health care security scheme in the world for poor families. This comes a year before new national elections. The Modi administrations's focus appears to be for taking steps that will generate growth over the long term and learning from errors, yet being bold enough to take the necessary action based on experience.   ...

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Andy Burnham, Labour's Mayor of Greater Manchester on what the Labour party needs right now in May 2026 with the faltering leadership of Keir Starmer. Brexit will not be revisited. His program is to give the public relief from cost of living pressures in daily life, and do this faster than Starmer.  Reports in The Times of London show Burnham with strong support to win leadership of the Labour Party. Polls from You.Gov show Starmer has favorability rating from British public of just 23%. The Mandelson affair and appointment of Mandelson as Ambassador to the US after concerns were raised about his record further eroded public confidence. Starmer relied too much on the work and influence of his chief of staff, a young person who resigned and whose influence of removing key Labour working class representatives split the Labour party from its roots in working class neighborhoods. Previous leaders of Labour were ostracized and the party won the general election in 2024, but was much weaker than appeared. He is seen as lacking the vision of his own for Britain for the next decade to 2040. Andy Burnham is popular in the North of England, and has called for more power to go to local government across Britain from the London centric view of the last 4 decades. His redesign of the bus and transport system, the Bee network in the Manchester area is popular, after the sometimes failed  performance of privatization of water, transport and other infrastructure by the Conservative party governments. He has experience in running a large Metropolitan Area for three terms, as MP in a Parliament, and Cabinet experience as Chief Secretary of the Treasury, Health Secretary under Gordon Brown. He is one of the rare persons in British politics who has experience in all areas of government, including Shadow Home Secretary, that would make him a rare leader that Britain can use to build a better future for the people of Britain. With the experience in Greater Manchester giving him a headstart in the work of reviving Britain, something similar to the experience Narendra Modi gained in Gujarat state of India for three terms to lead India in 2014.  ...

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Gas at pump costs about $8 in Germany and France, $7 in UK and $4.50 in Canada- in the US $4 for March 2026. As far back as 2011-2014 gasoline prices averaged about $3.50 a gallon in the US. Today's $3.92 average in 2026 is only 12% higher than $3.50 of 10-15 years back in the US for gas prices at the pump. Gas pries before the war in Ukraine in 2017 were $5.67 a gallon ($1.50 a litre) with a price increase in 2026 10 years later to $8 an increase of 41%. By any comparison with European nations Americans are way better off in 2026 and also in comparison with 15 years back considering the 12% increase and the much higher wages today. The average annual wage salary was $43,000 back in 2010 compared to $65,000- $75,000 today. Much of this was achieved by increased shale production to make US oil self sufficient. Americans are clearly so much better off today with oil at an average price of $3.92 a gallon.  The higher price of oil also acts to increase incentives for accelerating renewable energy production which will make it possible to achieve a future free of fossil fuels while at the same time giving average wage Americans a chance for a better life during the transition. ...

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Analysts fear an oil shock in 2012 similiar to that in 2008. There is similiarity in the situation now and in 2008- as in 2008, the surge in oil prices comes at a time of higher tensions with Iran and shrinking spare capacity. Spare capacity is at 2.5 million barrels a day on average for January and February 2012, according to the Energy Information Administration. This compares with 3.7 millon barrels a day for the same period in 2011. Part of the reason is that global oil demand is increasing in 2012 by 1 million barrels a day, to 89 million barrels a day. Technical and political problems have shutdown another 750,000 barrels a day. The problems begin to kick in during the second half of 2012. The U.S. ban on dealing with the Iranian central bank for oil trades starts in June 2012. According to the International Energy Agency, the EU embargo and U.S. sanctions will take 1 million barrels a day of Iranian crude out of the market. The result will be that demand exceeds supply by the third quarter by 1.1 million barrels a day, according to the U.S. Energy Information Administration. Use of existing reserves in Europe, the U.S. and other countries will make up the gap. The effect will be to put pressure on oil prices. May Brent crude on the ICE Futures Europe exchange was up to $125.81 a barrel, on March 16, 2012, and prices for April delivery were at $107.06 a barrel on the New York Mercantile Exchange....

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Coal is making a comeback as many countries in Asia are bringing back coal units following LNG shortages. Impact of Hormuz shutdown- 40% increased use of coal in Korea, coal units reactivated in India, and put on standby in Italy. Italy delays phaseout of coal to 2038. Coal is a reliable fuel in this period of Hormuz Straits shutdown. Much of Asia's LNG comes through Hormuz. Use of coal in the US shown here in graphs which in a second explain why the DJT administration and Republicans say it makes so little difference what the US does in coal for climate change when China and India make up 90% of the use of coal. Consider what these charts show- use of coal in 2027 in the US is 331 million metric tons vs 1422 million metric tons for India, almost 5 times the US coal use happening in India. EU is 244 million metric tons. But wait the Chinese number is much much larger than India's - 5005 million metric tons used in China in 2027. India's coal use alone is 3 times that of the EU and the US combined.  China's coal use is about 10 times the coal used in the US and EU combined. And when one compares US+EU use of coal to India + China coal use - India and China used in 2027 13 times as much as the US and European Union.  Which is why because cutting coal use also impacts communities hit hardest by the Elites of America (Bush+ Obama) shipping out its whole manufacturing base to China. These communities get some relief from these same Elites policies that shut down all coal plants, instead of using a carefully structured wind down that allows some selective use of coal plants which are cleaned up for emissions, and pushes China to do more. Small cuts in coal use in China which has benefitted from our Elites shipping out the national manufacturing base of the US to China, would make a bigger difference than large cuts or total shutdown of coal plants in the US, where the communities impacted are in the rural parts of America that have lost factories and jobs such as in Pennsylvania due to Bush and Obama policies of looking the other way to deindustrialization of America. ...

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The euro approaches parity with the U.S. dollar by November 2016, with the surge in the dollar following the U.S. presidential election of 2016. The euro closed at $1.058 on Nov 17, 2016. It was down 4% following the election. The euro was down in early 2015. This time it is chiefly down against the dollar. This time both monetary and fiscal policy is expected to diverge with the EU, and inflation expectations are up in the U.S. Analysts expect parity to be reached in 2017. 

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The Markit/HSBC Purchasing Manager's Index for China declined to 49.6 in Jan 2014 from 50.5 in Dec. 2013. A score below 50 shows contraction. China's GDP growth declined to 7.7% in the 4th quarter of 2013.

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PM of Sweden Ulf Kristersson on the Joint Statement of the Nordic nations with India. Joint Statement: 3rd India-Nordic Summit, Oslo, 19 May 2026 Published 19 May 2026 1.  Today in Oslo, the Prime Minister of India, Shri Narendra Modi, the Acting Prime Minister of Denmark, Ms. Mette Frederiksen, the Prime Minister of Norway, Mr. Jonas Gahr Støre, the Prime Minister of Finland, Mr. Petteri Orpo, the Prime Minister of Iceland Ms. Kristrún Mjöll Frostadóttir, and the Prime Minister of Sweden, Mr. Ulf Kristersson, held the 3rd India-Nordic Summit hosted by the Norwegian Prime Minister. This Summit builds upon the previous two Summits held in Copenhagen in 2022 and Stockholm in 2018. 2. The Prime Ministers noted that they are meeting at a time of global geopolitical flux and rapid economic and technological transformation and agreed on the need to deepen the partnership between India and the Nordics for mutual benefit based upon shared interests and values and to cooperate in addressing global challenges. In this context, they decided to elevate the India-Nordic relationship to a trusted Green Technology and Innovation Strategic Partnership. 3.  As leaders of vibrant democracies and large open market economies, they underscored their shared interest in fostering a robust and resilient global order based on international law that promotes peace, stability, inclusive economic growth and sustainable development.  4. They reaffirmed their commitment to upholding international law, shared values and obligations including democracy, freedom, human rights, gender equality, rule of law, respect for sovereignty and territorial integrity and international peace and security in accordance with international law, including the United Nations Charter. 5.  The Leaders discussed international peace and security including the conflicts in Europe and the West Asia/Middle East. 6. They discussed opportunities for collaboration in trade and investment, blue economy, circular economy, digital infrastructure, digitalisation and artificial intelligence, climate action and energy security, fighting pollution, water, research and education, talent mobility, healthcare, space & geospatial sectors and defence. UN, multilateralism and international cooperation 7.   The leaders reiterated the importance of an effective multilateral system, with the United Nations at its core. They confirmed their commitment to work towards reforming the UN, including the UN Security Council, to make it more representative, inclusive, transparent, efficient, accountable, effective and reflective of the contemporary geopolitical realities. The Nordic Prime Ministers reiterated the support of the Nordic countries for permanent membership for India in a reformed and expanded UN Security Council. The Nordic leaders welcomed India’s application to the Nuclear Suppliers’ Group (NSG), and emphasized the importance of the international multilateral export control regimes in upholding non-proliferation and international peace and security. Trade, investment and economic cooperation 8.  The leaders emphasised the importance of a continued central role for the World Trade Organization in the multilateral trading system and global trade governance. They underscored the importance of a fair, open, transparent, equitable, non-discriminatory, inclusive and rules-based multilateral trading system, with WTO at its core. 9.   They acknowledged the significant economic exchanges in the form of trade and investments between India and the Nordic countries in promoting sustainable economic growth, prosperity, circular economy, bioeconomy, sustainable development and supply chain resilience. 10. To facilitate trade and investments and contribute to the objective of sustainable development, they particularly welcomed the entry into force of the India-EFTA Trade and Economic Partnership agreement and the conclusion of the India-EU Free Trade Agreement. The leaders also welcomed the active business exchanges in the margins of the Summit and highlighted the need of continued business exchanges to identify opportunities. The leaders stressed that in addition to the economic benefits by enhancing market access and removing trade barriers, the India-EU FTA and India-EFTA TEPA could support economic security and resilience through diversifying critical value chains and opening new markets. They welcomed the shared objectives under TEPA that EFTA states shall aim for investment of USD 100 billion leading to creation of one million direct jobs in India. 11.   The leaders further emphasized the need of undertaking initiatives to improve connectivity between the Nordic and the Indo-Pacific regions, including in line with the continued development of the India-Middle East-Europe Economic Corridor. ...

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DJT arrives in Beijing China May 13 2026. Topics that will be discussed are - the Iran War and how to resolve it, trade with China, tariffs, and US Taiwan policy. China continues to run trillion dollar surplus in trade with the world with lower trade surplus with the US after DJT tariffs. From $295 billion in 2024 under Biden the new DJT administration with DJT, Bessent and Jamieson has lowered this to $202 billion by 2026. In that same period the world trade surplus of China has increased from $992 to $1.19 billion. It is not clear whether some of the drop in the US figures is from China sending product through channels to Mexico and Vietnam that is then shipped to the US. DJT showed results in his policies by lowering the trade imbalance by 32%, while trade imbalance with the rest of the world has worsened (increase in trade surplus of China) by 20%. What does this show? We can safely assume that excessive trade imbalances are not in either China, EU, or America's interest. China increases trade and political friction by doing so, and it leaves its own policy weak by overdependence on exports, too little effort to increase domestic consumption and living standards.  FOr the US and EU trade imbalances with China of over $1 trillion reflect misguided policy at the top by US and EU decision makers and governments. By exposing their manufacturing base they are losing valuable jobs by the millions and creating a situation where the few with good jobs in select industries live in large cities and the rest of the country in smaller towns and rural areas suffering from lack of amanufacturing base. This weakens the investment base for public services and leads to lack of investment ininfrastructure. This is called deindustrialization which the DJT and Biden administrations both fight hard to reverse for the last 10 years since the disastrous years of the Obama and Bush administrations 2000-2016. For this reason we can say a good Republican is as good as a good Democrat, a bad Republican is as bad as a bad Democrat, political labels are just that labels. The media in US and EU are on a wrong footing and still fail to cover this the way it should be covered to shake off the lethargy in public sentiment in the US so that a rapid drive to reindustrialize and build new new infrastructure on top of the old that was built after World War 1 can take place. In today's world India is stepping up with major infrastructure building just as the US and EU ramp up their rebuilding.  ...