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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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Questions China faces on AI- 17% high youth unemployment and 200 million young people in the gig economy in low wage demanding work. Chinese Communist party wants to see a stable China that can pursue industrial progress for decades like the European Union and the US. For this reason it is not going to let this level of dissatisfaction with high youth unemployment and low wage demanding work for young people to go to the next level. For this reason it will carefully make investments in AI -not the hyper investments in AI that are taking place in the US. The competition with China is going to take place on many fronts, and the industrial bloc created by the EU with India and Nordics has a 15 year plan during which it and the US are likely to far exceed anything China does at a slower rate of growth. As in the US choices will have to be made in China, investment in one area means disinvestment in other areas that have equal or more priority. Today's capital markets are in complete dysfunction in the US operated by a few banks and tech company leaders, similar to the situation prevailing in pharmaceuticals and healthcare. Investment priorities and planning are needed. It is a major error to say US cannot plan that capitalism does not have planning, because it is absolutely true that planning goes on at every level in American companies with Xerox, IBM, Oil Companies and other large companies, all having a Long Range Plan as well as planning for individual projects and investments in plants. If a good infrastructure plan, project by project, state by state, and at the local level, is not put in place this will simply not take place. If no good reindustrialization plan, project by project, state by state, and at the local level, is not put in place, this will simply not take place. In that case the competition with China would surely be lost before it had begun. Yet that is surely not the case, as every good American company has a long term plan. And this plan looks at all the potential investments the Nation can and should make in priorities and in the interests of the Nation and the People. All have to compete for resources and AI surely would not get the lions share of resources in China, or in the US, in a fair and well run market system where planning rightly takes place, because it would displace the very basic structure of a fair and well balanced economy that serves the American people, or the people of European Union and India, or the people of China. ...

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GM takes a $600 million charge in the 1st quarter with the decision by CEO Mary Barra to close the plant in St. Petersburg, Russia. GM's market share in Russia had declined from over 9% to 7.4%, and the sharp decline in the Russian auto market made Russia an unattractive proposition as GM focusses on improving profitability in Europe.

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General Motor's market share could fall below 20% in May 2008. Ten years ago itss executives wore lapel pins with 29 on them showing thath they would reverse sales decline at 29% share, then it was 24%, and is it now at 20%? Among other changes, the Toyota Camry may pass the Ford F-150 pickup as the top selling model and Honda may overtake Chrysler in sales this year.

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What US companies did not get early on is that as China's economy advanced local companies could make the same products for less and innovate to take a big share of the market. Ford exited China and GM took  $5 billion charge on its China business. Chinese makers of cars, EV's, laptops and cell phones have the major share of the market. In 2024 US companies chastened by their experience and failing to compete in China are reticent about tariffs impacting their market share in China. Other reasons China was growing at over 10% in the last year of Obama's second term. In 2024 China is struggling to reach 5%.  Following Covid, housing industry collapse, as US and Europe block China's exports, China's public is growing wary of spending. There are only 800 Americans studying in China in 2024 compared to 11,000 in 2019. There are 290,000 Chinese students in US. ...

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The average price of a smartphone in India in 2022 was $206 excluding taxes, Apple's smartphones go for $898. With discounts Apple is now bringing the price down to below $500. In 2019 phones over $500 made up 3% of the market. This has increased to 6% in 2022. Apple is counting on this share of the market going up and prices being brought down below $500 to build a larger share of the market. Its market in 2023 is about 5% in India compared to 22% in China.

In China Apple has its own stores. It is only now opening its first store in Mumbai. This and building manufacturing facilities in India could be the way to increase its share of the market in India to where it provides an alternative comparable to the Chinese market. This is the first time after the pandemic and the supply chain issues, the idea of friendshoring, that Apple is reorienting its policy for making India a key part of its supply chain and market. 

 

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For US automakers each component of the savings above may cover all or more of the $2.5 billion in tariffs some of which may be returned in rebate form to the automakers over 4 years. For example GM CFO is cited as as saying the shift in EV's alone could reduce losses by $2 billion in 2025. That more than makes up for GM's  $1.1 billion losses from tariffs shown in this WSJ report. It is more accurate to say foreign automakers in the US pay $9 billion in tariffs if they don't raise prices, Toyota alone will take on $3 billion in tariffs. And American makers Ford, GM, Chrysler Stellantis pay $2.5 billion of which some of it will be returned to the automakers inthe form of favorable policies to increase market share of US automakers with the 15% on imported cars and savings from not having to make electric vehicles in volumes that don't sell without the charging infrastructure, and savings from not having to invest on rapid conversion away from gas powered vehicles.    ...

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Russia stated at a meeting of OPEC oil producers that it would not accept cuts in oil production to stabilize the oil market. The coronavirus effects on the world economy have resulted in a sharp decline in demand for oil. This lack of an agreement among oil producers is leading to a steep drop of 30% in oil prices on March 9, 2020. The Russian position in talks was that it was too early for deep cuts considering that the  true impact of the coronavirus on the world economy was unknown, and that the loss of 1 million bbd from Libya had already reduced production. Experts say the Russians wanted to stabilize oil prices around $50 a barrel and the Saudis a bit higher. Under the OPEC agreement Russia would have to reduce its production by 1.5 million barrels per day (bbd), in addition to 2.1 million bbd from previous cuts that would be extended to March, which it found unacceptable. The impact of the double whammy of continued increase in coronavirus cases around the world and the drop in oil prices as a reflection of business confidence was also felt in world stock markets.  Russia's budget is less sensitive to oil prices than the Saudis. The Saudis need somewhere near $80 per barrel to breakeven. Analysts say Russia does not want to lose market share to American shale oil companies which do not have output cuts and benefit from lower oil prices. Shale oil companies in the U.S. are struggling in the present situation of low prices as many of them need $65 a barrel in price to breakeven. About 208 shale oil companies in the U.S. made bankruptcy filings since 2015.  The oil importing countries with increasing oil imports such as India will benefit from the drop in oil prices. Japan and other oil importing countries in Europe, Africa and Asia will also benefit as Russia and the Saudis go all out to increase production. ...

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Rolls Royce new CEO Mr. Erginbilgic wants an end to pursuing market share. He is renegotiating $2 billion in contracts that could be unprofitable. It had quality issues with its Trent 1000 engine that powered the Boeing Dreamliner ending in paying billions for fixing the product and compensating aircraft makers. Corruption charges were other problems. The pandemic led to companies parking planes and hurt Rolls Royce as enginemaker.  Rolls Royce made the first jet engines the de Haviland Comet, the world's first jetliner plane. Throughout its history it has faced upheavals at regular intervals-cost overruns leading to bankruptcy and government bailout in 1971, and relisting as a private company under Margaret Thatcher that led to a market share competition with GE in the US and more losses. Erginbilgic is the new CEO and says battling for market share days are over. He wants to cut its debt and achieve investment grade ratings to reduce financial costs. Erginbilgic says he really believes the problems of Rolls Royce come from the approach of increasing market share at any cost. Its defense division offers a ray of hope and a new orientation is taking place. ...

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Whitacre is basically blunt about his mission from the Obama adminstration when he attends meetings at the Tech Center in Warren or at the Westin Detroit Airport hotel and the San Antonio club: get GM growing again, he wants to see market share north of 20%. The Obama administration, Bloom and others are clear about the government wanting to get its $50 billion for the USA and $9 billion for Canada back as early as possible. He has told GM's Henderson he will be replaced it things don't change fast enough, and he wants product out faster, 2 year development times for new cars instead of three years today. The same message has been passed on to middle and upper middle managers in diagonal meetings. And what are readers commenting on this- and readers views matter a lot because GM has a wrong perception out there that hurts sales- a third of twelve readers said they cannot understand why young people are not moved up to run the company especially from design and engineering, one mentions Whitacre's age 70 years. A third just don't think much will change, and one says he will buy aFord. And a third says Whitacre is the guy who can shake things up and he should. ...

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Cost of Living Crisis under Biden, Affordability Crisis under DJT, and the situation in Feb 2026 with 2.4% inflation and job creation at 130,000 jobs in January 2026. Is this a sign that the tariffs policy is greatly misrepresented and misunderstood? The flexibility in tariffs, attention to financial markets through Scott Bessent's keen sghts at the Treasury shared with the president, the cutouts for key countries such as India to exclude semiconductors and cell phonesand other products from tariffs. For instance under tariffs increase India actually increased its exports by diversifying its economy and signing a trade agreement with Germany and the EU, followed by the trade agreement with the US, so that it remains an enven stronger economic partner. The same is true for Japan where elections are leading to a parliamentary majority for PM Sanae Takaichi who wants to work with the US and build a strong economic partnership, and make the large investments in the US it has promised.  Japan and India are two of the five largest economies in the world (US, China, Japan, India, Germany). German Foreign Minister Wadephul for the CDU welcomed Marco Rubio's call for a "new Western Century" and for strengthening western civilization common heritage of the US and Europe. This means 4 of the 5 largest economies in the world are in sync for the future of world trade, and their economic future.  ...

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The Chinese car market is changing fast, with domestic brands making up a larger share of the local market. In 2000 these domestic brands made up 18% of total sales, whereas in 2010 forecasts show this to be about 32%, with the share increasing in future years. In a rapidly growing market this did not make much difference, but with the market growth moderating to 7-8% in the next ten years from the heady 33% of recent years, the foreign brands such as GM and VW will not see the growth of recent years. J.D. Powers projects passenger vehicle sales in China at 19.2 million by 2017, with Chinese brands taking 45% of the share, in one scenario. Under this scenario foreign brands like GM and VW would see sales growth of only 5% in the next 7 years. The foreign brands are not allowed to own more than 50% of local operations. And their partners are making their own domestic brands. If Japan is a useful example, China's automobile companies will like Nisssan, Toyota, and Honda, proceed to penetrate global markets and become a dominant player in their local market. This has implications for GM, VW and Daimler....

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With Whitacre in charge at GM there is a change of style and substance that just flows from who the man is. He is a no-nonsense guy, who once told a colleague from his days at Southwestern Bell, that God gave us two eyes and one mouth for the right reason so we should use it in that proportion. He is quite matter of fact about approaching the probems at GM right from the beginning. From those early meetings at the Westin airport hotel in Detroit, where he would tell GM executives and Henderson that if things did not happen the way they should and quickly he would find the right people. After there was a lot of soul searching about Henderson's decision to sell Opel- and three directors with private equity background decided it was bad for GM, that GM needed Opel for its compact and midsize car engineering and sales volume- Henderson was replaced as CEO. The decision was reversed. Within 3 months of Henderson's departure four other executives were let go, 20 more were reassigned and seven outsiders were brought in to fill top jobs. Lutz was marginalized. Reuss in his forties was placed in charge of N. America. The metrics were simplified from Wagoner's days to six: market share, revenue, operating profit, cash flow, quality, and customer satisfaction. His approach to get managers who make decisions fast and correct mistakes speedily. Vice chairman and CFO, Christopher Liddell, is from Microsoft and joined in January. Liddell points out that 12 of the 13 person GM executive committee are either new to the auto industry or outsiders. And the seniormost Whitacre and Liddell, are new to the auto industry and outsiders, so Whitacre can point out that GM has run the business in a more complicated way than it needs to be. The big changes are cultural. And making these changes for a company the size of GM and with the trauma that happened at GM with the speedy decline, required someone with the experience Whitacre gained in tackling the problems he faced at Southwesten Bell and the new AT&T, with its changing culture. The tough down-to-earth nature of the guy, with no affectations or layers to his personality whatsoever, proved an asset at the new AT&T and now at GM. Other decisions he has made at GM, are some strategic ones like bringing down incentives to sell cars, the latest being letting market share drop in March in the face of Toyota's heavy use of incentives to recover from the recall crisis, but sticking to reducing the incentive dollars by $1200 to $3500 per car. This made it possible to achieve sales goals. And some tactical but of great significance, from a common sense approach to GM advertising with his remark "I'm sick of Howie Long." Pitchman Long was a football player, and what Whitacre insisted on was showing off GM's best models and features to blow the competition, like the "May the Best Car Win," campaign. That many of GM's ads didn't focus on the cars and didn't make any sense, like little Cadillacs flying out of a birdhouse, makes this truly incredible to an outsider. Other things Whitacre brings are a change in his expectations, and his overall demeanor. This impatience may be a good thing for GM especially with the capital investment in new models, plant investment and better decisionmaking, and commonsense approach, to back it up. In the car industry it can't hurt for the top guy to look at the car clay models and ask why they can't be brought to market in 12 months. It gets people thinking differently. Asking a Cadillac dealer he knows in San Antonio why they should'nt be selling twice as many Cadillacs if the marketing was better. It helps when the top guy can visit a plant and have "diagonal slice meetigs" with plant staff, workers and UAW people, to talk about things in sweat shirt and jeans with no airs about yourself whatsoever, and to follow this up with a repeat meeting some months later and announce a $136 million investment, as he did with the Fairfax plant in Kansas....

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The U.S. Treasury plans to sell off its whole stake in General Motors in 15 months. Treasury will sell about 200 millon shares to GM for $5.5 billion by Dec. 2013. The buying price for GM of $27.50 is about 8% higher than GM's closing price on Dec. 18, 2012. Treasury plans to sell the remaining 300.1 million shares within in the next 12-15 months depending on market conditions. Treasury's breakeven point is about $53 a share, and the government will lose money on the bailout compared to the AIG rescue. The government invested about $49.5 billion to help take GM through a planned Chapter 11 bankruptcy filing and reduce a huge debt load. The key in the auto bailout was preserving over 1 million jobs in the U.S. auto industry during an economc crisis.

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A look at the automobile market in the U.S. in October 2014 shows a large increase in SUV sales. Sales of the Jeep brand increased by over 50%, and Dodge Ram by 33% in Oct. 2014, compared to the month in 2013. Sales of the Honda Civic declined by 9%. Chrysler gained market share reaching 13.3%, with sales concentrated on the RAM and Jeep brands. Japanese makers had about 35% of the market, compared to about 46% for American brands Ford, GM and Chrysler. GM had 17.7% share in the U.S. market, Ford 14.7%, Toyota 14.1%.

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What are the implications of the restructuring at GM and Chrysler for the American car market? Market share at GM dropped to 19.3% in the first 4 months of 2009. Says Consultancy Caesa Shapiro Group, the market will become more competitive, with about 15% of the market up for grabs depending on how many GM and Chrysler dealerships are eliminated. THis is based on Caesa's numbers of 14-15 million for the American automobile market compared to the 17 million car year. But the current market is at 9.5 million cars a year so Caesa's estimate may be on the high side even when the market recovers. Which means competition will be intense for the much diminished market in the USA. Deloitte Consulting says the suppliers will benefit as they will be dealing with auto companies whose relative market share is at more equal levels for companies like GM, Toyota Ford and Honda. Supplioers will also be dealing with companies that have better financial position compared to the situation in late 2008.

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THe GM restructuring that leaves the US and Canadian governments with control of 72.5% of the company, and unsecured bondholders with 10% of the company. The unsecured bondholders were offered warrants that could bring up their share of ownership to 20%, in return for forgiving $27 billion in GM debt. The UAW has the rest, 17.5% of the company, plus $6.5 billion in preferred equity and $2.5 billion in GM debt. The US government will commit $30 billion to GM in addition to the $20 billion already given to GM. ANd the Canadian government will give $9 billion. By taking a large share of the ownership of GM- at a time when the market for automobiles in the US is at 9.5 million vehicles and GM needs a 10 million automobile market to breakeven according to the restructuring plan- the government is implicitly taking on the responsibility for additional loans to GM till the market recovers.

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Share of US Counties where 95% of Kindergarteners are vaccinated against Measles drops to 28% from 50% in Washington Post Investigation of 44 states December 2025. 95% vaccination rate is what experts say is needed for "herd immunity" or overall protection in a class. Washington Post examination of data shows marked deterioration from 2018-2019 school year to 2024-2025 school year data and public records. That is 5.3 million children are exposed from lack of herd immunity from measles now compared to 3.5 million children earlier increase of 1.8 million children. This Wash. Post investigation shows 19,000 schools are exposed and one can go to this article to find on a map how your school district and country are doing in the 44 states. A big problem is emerging from public skepticism and politics in vaccination. For generations schools required vaccination proof- by 1980 all 50 states had laws covering students first entering school. And caught in vaccine politics legislatures are creating religious and other exemptions that have weakened laws. Wash. Post says it's examination shows not a single County in Idaho, Louisiana, Oregon Tennessee, Utah, and Wisconsin meet the 50% vaccinated requirement for measles required for herd immunity. This could mean more of these diseases will be brought back home including whooping cough to affect elderly and infants. Democratic districts such as in St Louis and Chicago also see drop in measles vaccination rates. In the sense that newly decolonized countries since 1950 such as China and India have emerged with good health systems and mandated vaccination , other public health action, there is a great need for the US to focus on bringing back the public awareness that existed after the 1940's in the US that resulted in significant advances in public health in the US in the FDR, Eisenhower, Kennedy, LBJ and Reagan administrations. It shows there is no victory in public health. A lot of work needs to be done, as much of the gains can get undone by events and public awareness is necessary. As pharmaceuticals, chemicals and plastics and bad nutritional habits took over American lives there is an effort under Kennedy at HHS to tackle that health crisis, but it brings with it challenges that date from the pandemic and different responses in different parts of the US to mandatory vaccination which also have to be met through education not social media. ...

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The WPost editorial says more money may be needed in the future than the $50 billion the government has already committed to GM. A lot of the basic steps have been taken in the Obama restructuring, closing brands and dealerships, cleaning up the balance sheet, bringing costs and benefits in line with foreigh nonunion plants. But, says the Post. the auto task force wanted to see 16 plants closed, the agreement will close 14 plants and three of them will be idled instead of shut down, with GM paying maintenance and other costs. Breakeven is at 10 million vehicles per year market but this depends on GM's market share. If the market at 9.5 million vehicles per year at present shrinks further in 2010, and GM's market share faces more pressures from competition, the prospects of GM making money will dim.

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GM share price plunged to a 55 year low of $11.43. It dropped 11% in one day June 26, 2008. This is te lowest price since the days of Eisenhower as President. GM according to anlaysts will end the year with $20 billion in cash, and will go through at least $10 billion this year. And the market is changing dramitcally towards smaller fuel efficient cars with GM not taking the initiative to move towards these types of cars which makes going forward into 2008 just as risky with the economic downturn making things worse in 2009.

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About one third of cars in China will be electric cars by the end of 2023 from one fourth today. Compare this with 6% of cars being electric in the US. EU, US and Japan are far behind. Toyota has only now ramped up EV's with a new CEO. In the domestic Chinese market 80% of EV's are made by Chinese auto manufacturers, And this could go up to 90%.  This means the share of the Chinese market for German and US manufacturers is actually shrinking. Chinese buyers now prefer Chinese brands over foreign brands. Over 4 decades says Keith Bradsher in NYT the US and European auto manufacturers trained a whole generation of Chinese auto engineers who now work for Chinese electric auto makers. This is one market in which China has built a formidable capacity. This is also a big contribution to cutting emissions from fossil fuel powered cars after China's massive use of fossil fuels over two decades worsening climate change.

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GM's plan for the current crisis in sales with sharp drop in sales of trucks and SUV's is to cut costs in many areas, 20% in salaried expenses, cut dividend payments, and cut development expenditures, and other moves that will cut $10 billion in costs.It will make competing with the Japanese and the Germans and Koreans difficult, and difficult to hold onto market share it currently holds as it will spread the limited resources over the many existing brands. Henderson says it cost $2 billion to close Oldsmobile with no return so GM will continue with all the brands in its lineup.

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GM's relationship with Shanghai Automotive Industry Corporation is the singlemost important relationship for the company. Its 50-50 joint venture with SAIC has sales volume of 2.6 million vehicles, 30.5 billion dollars in revenue, and earned GM a profit of $1.5 billion in 2011 for operations in the Chinese market. In 2009 just before seeking bankruptcy protection GM gave SAIC 51% ownership in exchange for a $400 million credit line GM used for its Korean operations and $84.5 million. Now that GM has recovered it has sought to restore its 50-50 role in the partnership. In a new agreement reached with SAIC, Shanghai GM will be split in two parts- a sales arm which will book revenues in which SAIC will retain a 51% ownership, and a operating arm in which the old 50-50 partnership is restored. The operating arm is where the budget will be set, product decisions made, hiring done including the next CEO. Under the arrangement made before bankruptcy GM retained a call option to buy back the 1% stake, as long as SAIC was able to book revenue. VW also has a 50-50 partnership with SAIC. Shanghai GM has a 14% share in the Chinese market, with a 41% increase in sales since 2009, making it spectacularly successful for GM. This is the largest market share of any company in the Chinese market, with VW coming in second. GM and SAIC also operate a venture in India. ...

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General Electric, GE, experienced a steep decline in the last decade. The worst news came in 2018 with the loss of half its share price and market value. One story tells about an employee who was forced out of retirement back to work seeing the loss of value in GE shares in 2018. Rarely has a company of this size seen a fall in stock price this steep, for a stock that was once seen as safe for widows. About 60% of GE business comes from jet engines, electric power generators and wind turbines. GE now plans to sell its health care business and other business that do not relate to core infrastructure in energy, aerospace, and other markets. Under Jack Welch a faulty model of adding diverse businesses that had nothing to do with its core business and expertise in infrastructure were added. A home mortgage lending business was added and GE Capital expanded. NBC Universal was added with little justification in a period when CEO's acted without much consultation. The home mortgage lending unit collapsed with large losses during the 2008 financial crisis and GE's share price dropped drastically to $6.00. Under Welch's successor Mr. Immelt the GE Capital unit was shrunk in size, but losses continued to mount. An oil field service unit was added which also sustained losses.  Immelt's successor Flannery faced a loss of $15 billion from the financial lending unit. Sale of some businesses was not sufficient to meet the loss. Flannery is now taking GE out of all the businesses which were not core business. The NBC Universal television business was sold to Comcast in 2013. GE Healthcare is next. This closes a bad chapter in GE's story under Welch and Immelt. GE's dividend was cut for the second time since the Great Depression. The story of GE is also the story of American business during the last two decades, with icons such as GM, Ford and GE suffering decline, businesses that operated like little fiefdoms of old nobility in Europe, with CEO's operating in a CEO centric culture, not tolerating contrary opinion for informed debate on issues facing the business. Alfred Sloan founder of Genral Motors called constructive debate central to good management. Later Intel CEO Andy Grove coined the phrase constructive confrontation as a way of constructive debate, and the CEO was shown as the first of equals. The CEO centric management ignored these warnings and admonitions in running their fiefdoms.   ...

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By settling for a 15% tariff Japan was protecting its other industries from the higher tariff of 24-25% proposed earlier. US industry has operated with no assistance from the US government and faces a financial markets structure in the US that is not helpful to American industry making long term investments that overseas makers with support from their governments are able to make. US workers suffered badly over three decades and the ineptitude of previous US presidents in protecting American workers from this situation. The Europeans and the Japanese, South Koreans know this and understand that the US plays the critical role in the free world and without it, without the workers and rural communities of the US, their way of life and freedom will suffer irreparable harm. Japanese PM Ishiba and its business organization Keidanren are focused on implementing the US Japan Trade Agreement mitigating any effects inside Japan. Japan was able to protect it's auto export model to the US from high tariffs settling for a moderate tariff of 15%. A similar agreement was accepted by Germany when Leyen accepted the 15% tariff on German car export model. For decades Germany and Japan have used their auto export model to take a large share of the US market, joined by Korean makers, putting American car makers and their workers at a disadvantage since the 1980's. This creates a level playing field in world trade and is in the interest of workers in the US. ...