Economist, Nov 17, 2018 (I)

choi

There is no need to read the rest.
(1) Letter (to editor): "Little Big Man [which is title conferred by Economist] & & & I'd like to give short shrift to the common misconception that Napoleon's stature was modest ('All He Surveyed,' Nov 3rd).  One source, based on his autopsy, recorded a height of 5 feet and 2 inches. However, these were French feet and inches. In Britain he would have been 5 feet 7 inches, just above average height for a man of his era. * * * The reasons why we think of Napoleon as diminutive are his nickname (le petit caporal) * * *  BEN THURIAUX-ALEMÁN[,] London"

Note: French-English dictionary:
* caporal (noun masculine): "(military) corporal"
https://en.wiktionary.org/wiki/caporal

The English noun corporal descended directly from this French word, "probably influenced by [English adjective] corporal" -- through Old French of the same spelling, from Latin adjective corporālis bodily, from noun neuter corpus body.

(2) Water in California | Source of Discord; The president wades into California's water wars.

Quote:

"In July the Bureau of Reclamation, the federal agency [under US Department of the Interior] that oversees water management, threatened to sue California's water board [official name: State Water Resources Control Board (SWRCB)], arguing that its plan to keep water in the state's two largest rivers [Sacramento and San Joaquin rivers; later the article says the state water board wants more water for river fish] would unfairly reduce the amount diverted away for agricultural and urban use.

"An [federal] act of 1902 [the Federal Reclamation Act) says that state law precedes federal law on disputes about waters, even regarding dams and levees run by the federal government. A federal law concerning California, the Central Valley Improvement Act of 1992, reasserted the primacy of state law and was confirmed by the Supreme Court.

"Three-quarters of the state's water falls as rain and snow north of California delta. Three-quarters of the water is consumed south of it. A vast network of dams, canals and pumps shifts water from north to south. The system is an integrated one, but when it was planned in 1930s (during the Depression), the state could not afford to finance the whole project. The federal government stepped in and built (and still manages) many of the dams and pumps. Operationally, the two sides need to work together.  Over the years demands on the system have increased. There is not enough water to satisfy farmers, city dwellers, fishermen, environmentalists, and so on * * * The first task is to replenish groundwater depleted by farmers during the drought of 2011-17.

choi

(3) Ageing in Japan | Demographic Warrior. Shinzo Abe outlines his plans to boost workforce and trim spending on the elderly. But will they be enough?

Quote:

"There are 400,000 more deaths than births each year. * * * The welfare state has become unaffordable. Public debt is 250% of GDP. And Japan is suffering from an acute labor shortage. * * * One obvious solution is immigration. Only 2% of the workforce is foreign-born, compared with 17% in America. But the [Japanese] government has been surreptiously admitting more foreign workers, mostly in the guise of students and trainees.

"During his six-year tenure, 2m more women has joined the workforce, lifting the female participation rate above America's. He has increased the number of nurseries * * * From next year the nurseries will be free. Over half of women return to work after having a child, compared with 38% in 2010.

"many [Japanese] companies have * * * taken to rehiring retired workers, often on a part0time basis. Fully 23% of over-65s work; they constitute a much bigger share of the workforce than in other rich countries (see chart). * * * In the long run, the prime minister hopes, robots and artificial intelligence will help ease the labour shortage.

Note: The chart:

"Setting sun
Over-65s in employment, 2017
% o f the workforce

Japan ~12.2% ['~' because I eye the chart]
United States 6
Britain ~3.5
Germany ~2.8
Italy ~2.5
France ~1.4

Sources: Eurostat; national statistics"


(4) Schumpeter | China v America; The career of Hank Paulson and Wang Qishan illustrate the tension in superpower relations.

Quote:

"If you want to understand the commercial relationship between American and China, it is worth tracking the paths of two powerful people who have dedicated their career to it. Henry Paulson [which is birth name; Hank is nickname of Henry] * * * and Wang Qishan * * *

"China has not opened up its financial industry -- Goldman [Sachs] makes less money from Asia now than in Mr Paulson's last year in charge [CEO 1999-2006, then as US secretary of treasury 2006-2009] and has only 1% of its balance-sheet exposed to China. Still, in total[,] USA Inc made $450bn-$500bn of sales from China last year. An elite of a dozen or so firms, including Apple and Boeing, make [no 's'] over $1bn in profits. China exported $500bn of goods to America. Measured this way the relationship is roughly in balance.  In private many American executives still view China as the world's most important market after their own. In public, they have turned hawkish. This may reflect an intimidating political climate at home.

"Just as business responded to China's opening up in the 1990s, so it is adjusting to a new, de facto cold war. Charles Li, the head of Hong Kong's exchanges, says the two economies are like saltwater and freshwater systems that meet but but do not mix well. [American companies are stockpiling inventories, seeking alternatives in supply chains]

Note:
(a) In quotation 2, "from China" presumably means American corporations' subsidiaries in China.
(b) Charles Li: 香港交易所行政總裁 (CEO; 2010- ) 李小加 (1961- ; JD Columbia 1991, MA University of Alabama 1988, BA (in English) 廈門大學 1984