US, Taiwan Navies 'train' in Pacific; Blinken in Kyiv; The Economist on America's startup boom
Reuters: U.S. and Taiwan navies quietly held Pacific drills in April
TAIPEI, May 14 (Reuters) - The U.S. and Taiwan navies conducted joint drills in the Pacific in April that, officially, did not take place, four people briefed on the matter said, as the two militaries boost cooperation amid rising Chinese military threats.
AP: Blinken visits Ukraine to tout US support for Kyiv’s fight against Russia’s advances
KYIV, Ukraine (AP) — US Secretary of State Antony Blinken arrives in Kyiv to reaffirm American support for Ukraine in its war with Russia.
The Economist: America is in the midst of an extraordinary startup boom
Last year applications to form businesses reached 5.5m, a record. Although they have slowed a touch this year, the monthly average is still about 80% higher than during the decade prior to covid, compared with just a 20% rise in Europe.
Startups normally play an outsized role in creating employment in America, as elsewhere. By definition, every startup job counts as new, whereas mature companies have more churn. That difference has become even starker. In the four years before the pandemic, established firms added one net job for every four created by startups; in the four years since the pandemic, established firms have actually lost one job for every four created by startups.