keep its borders closed for another year. Japan is currently barring almost all nonresidents from entering the country, and intense scrutiny of overseas arrivals in China has left multinational businesses without key workers.

The immediate future for many places in Asia seems likely to be defined by frantic optimization.

China’s response to the outbreak in Guangzhou — testing millions of people in days, shutting down entire neighborhoods — is a rapid-fire reprise of how it has handled previous flare-ups. Few inside the country expect this approach to change anytime soon, especially as the Delta variant, which has devastated India, is now beginning to circulate.

has threatened residents with fines of around $450 for refusing vaccines. Vietnam has responded to its recent spike in infections by asking the public for donations to a Covid-19 vaccine fund. And in Hong Kong, officials and business leaders are offering a range of inducements to ease severe vaccine hesitancy.

Nonetheless, the prognosis for much of Asia this year is billboard obvious: The disease is not defeated, and won’t be anytime soon. Even those lucky enough to get a vaccine often leave with mixed emotions.

“This is the way out of the pandemic,” said Kate Tebbutt, 41, a lawyer who last week had just received her first shot of the Pfizer vaccine at the Royal Exhibition Building near Melbourne’s central business district. “I think we should be further ahead than where we are.”

Reporting was contributed by Raymond Zhong in Taipei, Taiwan, Ben Dooley in Tokyo, Sui-Lee Wee in Singapore, Youmi Kim in Seoul and Yan Zhuang in Melbourne, Australia.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

The Cost of Being an ‘Interchangeable Asian’

On a recent Tuesday evening, Jully Lee and her boyfriend curled up on the couch and turned on the TV to watch the Ovation Awards, a ceremony honoring stage work in the Los Angeles area that was held virtually this year because of the coronavirus pandemic. Ms. Lee, an actor, had been nominated for her role in the play “Hannah and the Dread Gazebo,” which was in production before the pandemic.

Ms. Lee, 40, had submitted a prerecorded acceptance speech in case she won. During the ceremony, each nominee’s photo was shown as his or her name was announced. When Ms. Lee’s category arrived, her name was called, and a photo appeared on the screen. A photo of the wrong Asian: her colleague Monica Hong. The announcer also mispronounced Ms. Lee’s name.

“I was just stunned,” Ms. Lee said. She added that after a pause, she and her boyfriend started cracking up. “When things are awkward or uncomfortable or painful, it’s much safer to laugh than to express other emotions. It’s like a polite way of responding to things.”

The LA Stage Alliance, which hosted the ceremony, disbanded in the wake of outrage over the blunder.

The irony of a mix-up like this wasn’t lost on Ms. Lee. It was rare to even be performing with other Asian actors, rather than competing for the same part. “It’s so funny because when there’s so many Asians, then you can’t tell them apart, but in media there are so few Asians that you can’t tell us apart,” she said. “What is it?”

The invisibility of Asians in pop culture is part of what, scholars say, contributes to the “wrong Asian” experience: When people aren’t accustomed to seeing Asian faces onstage or onscreen, they may have more trouble telling them apart in real life. To put it another way: If all you really have to work with are John Cho, Steven Yeun, Aziz Ansari and Kal Penn, that’s not going to go a long way in training you to distinguish among men of Asian descent offscreen. In contrast, Hollywood has given everyone plenty of training on distinguishing white faces, Dr. Nadal said.

Out of Hollywood’s top 100 movies of 2018, only two lead roles went to Asian and Asian American actors (one male and one female), according to a study by the University of Southern California’s Annenberg School for Communication and Journalism.

Donatella Galella, a professor of theater history and theory at the University of California, Riverside, said that popular culture has long reflected the Western world’s xenophobic views toward Asians, which resulted in placing them in diminished roles onstage and onscreen — the villain, the sidekick. That entrenched a kind of marginalization feedback loop.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Global Shortages During Coronavirus Reveal Failings of Just in Time Manufacturing

In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimizing the need to stockpile them.

Over the last half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced Just In Time to stay nimble, allowing them to adapt to changing market demands, while cutting costs.

But the tumultuous events of the past year have challenged the merits of paring inventories, while reinvigorating concerns that some industries have gone too far, leaving them vulnerable to disruption. As the pandemic has hampered factory operations and sown chaos in global shipping, many economies around the world have been bedeviled by shortages of a vast range of goods — from electronics to lumber to clothing.

In a time of extraordinary upheaval in the global economy, Just In Time is running late.

“It’s sort of like supply chain run amok,” said Willy C. Shih, an international trade expert at Harvard Business School. “In a race to get to the lowest cost, I have concentrated my risk. We are at the logical conclusion of all that.”

shortage of computer chips — vital car components produced mostly in Asia. Without enough chips on hand, auto factories from India to the United States to Brazil have been forced to halt assembly lines.

But the breadth and persistence of the shortages reveal the extent to which the Just In Time idea has come to dominate commercial life. This helps explain why Nike and other apparel brands struggle to stock retail outlets with their wares. It’s one of the reasons construction companies are having trouble purchasing paints and sealants. It was a principal contributor to the tragic shortages of personal protective equipment early in the pandemic, which left frontline medical workers without adequate gear.

a shortage of lumber that has stymied home building in the United States.

Suez Canal this year, closing the primary channel linking Europe and Asia.

“People adopted that kind of lean mentality, and then they applied it to supply chains with the assumption that they would have low-cost and reliable shipping,” said Mr. Shih, the Harvard Business School trade expert. “Then, you have some shocks to the system.”

presentation for the pharmaceutical industry. It promised savings of up to 50 percent on warehousing if clients embraced its “lean and mean” approach to supply chains.

Such claims have panned out. Still, one of the authors of that presentation, Knut Alicke, a McKinsey partner based in Germany, now says the corporate world exceeded prudence.

“We went way too far,” Mr. Alicke said in an interview. “The way that inventory is evaluated will change after the crisis.”

Many companies acted as if manufacturing and shipping were devoid of mishaps, Mr. Alicke added, while failing to account for trouble in their business plans.

“There’s no kind of disruption risk term in there,” he said.

Experts say that omission represents a logical response from management to the incentives at play. Investors reward companies that produce growth in their return on assets. Limiting goods in warehouses improves that ratio.

study. These savings helped finance another shareholder-enriching trend — the growth of share buybacks.

In the decade leading up to the pandemic, American companies spent more than $6 trillion to buy their own shares, roughly tripling their purchases, according to a study by the Bank for International Settlements. Companies in Japan, Britain, France, Canada and China increased their buybacks fourfold, though their purchases were a fraction of their American counterparts.

Repurchasing stock reduces the number of shares in circulation, lifting their value. But the benefits for investors and executives, whose pay packages include hefty allocations of stock, have come at the expense of whatever the company might have otherwise done with its money — investing to expand capacity, or stockpiling parts.

These costs became conspicuous during the first wave of the pandemic, when major economies including the United States discovered that they lacked capacity to quickly make ventilators.

“When you need a ventilator, you need a ventilator,” Mr. Sodhi said. “You can’t say, ‘Well, my stock price is high.’”

When the pandemic began, car manufacturers slashed orders for chips on the expectation that demand for cars would plunge. By the time they realized that demand was reviving, it was too late: Ramping up production of computer chips requires months.

stock analysts on April 28. The company said the shortages would probably derail half of its production through June.

The automaker least affected by the shortage is Toyota. From the inception of Just In Time, Toyota relied on suppliers clustered close to its base in Japan, making the company less susceptible to events far away.

In Conshohocken, Pa., Mr. Romano is literally waiting for his ship to come in.

He is vice president of sales at Van Horn, Metz & Company, which buys chemicals from suppliers around the world and sells them to factories that make paint, ink and other industrial products.

In normal times, the company is behind in filling perhaps 1 percent of its customers’ orders. On a recent morning, it could not complete a tenth of its orders because it was waiting for supplies to arrive.

The company could not secure enough of a specialized resin that it sells to manufacturers that make construction materials. The American supplier of the resin was itself lacking one element that it purchases from a petrochemical plant in China.

One of Mr. Romano’s regular customers, a paint manufacturer, was holding off on ordering chemicals because it could not locate enough of the metal cans it uses to ship its finished product.

“It all cascades,” Mr. Romano said. “It’s just a mess.”

No pandemic was required to reveal the risks of overreliance on Just In Time combined with global supply chains. Experts have warned about the consequences for decades.

In 1999, an earthquake shook Taiwan, shutting down computer chip manufacturing. The earthquake and tsunami that shattered Japan in 2011 shut down factories and impeded shipping, generating shortages of auto parts and computer chips. Floods in Thailand the same year decimated production of computer hard drives.

Each disaster prompted talk that companies needed to bolster their inventories and diversify their suppliers.

Each time, multinational companies carried on.

The same consultants who promoted the virtues of lean inventories now evangelize about supply chain resilience — the buzzword of the moment.

Simply expanding warehouses may not provide the fix, said Richard Lebovitz, president of LeanDNA, a supply chain consultant based in Austin, Texas. Product lines are increasingly customized.

“The ability to predict what inventory you should keep is harder and harder,” he said.

Ultimately, business is likely to further its embrace of lean for the simple reason that it has yielded profits.

“The real question is, ‘Are we going to stop chasing low cost as the sole criteria for business judgment?’” said Mr. Shih, from Harvard Business School. “I’m skeptical of that. Consumers won’t pay for resilience when they are not in crisis.”

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Ford to Boost Spending on E.V.s to $30 Billion

Ford Motor said on Wednesday that it would increase spending on electric vehicles by about a third from its previous plans and expects E.V.s to make up 40 percent of its production by 2030, a big increase in its commitment to the electrification of cars and trucks.

The company intends to spend $30 billion in the five years ending in 2025, up from the previous target of $22 billion. It also said it had accepted 70,000 reservations for the F-150 Lightning, the electric version of its top-selling pickup truck.

“This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T,” Ford’s chief executive, Jim Farley, said in a statement.

Ford has gone from being a relative latecomer to battery-powered vehicles to making them a central focus. The company recently started delivering an electric sport utility vehicle, the Mustang Mach-E, that has sold well and been praised by car reviewers. The model also appears to have taken market share from Tesla, which until recently dominated the electric car market. Last week, Ford introduced the F-150 Lightning, and President Biden drove the truck at a company track in Michigan and praised its rapid acceleration.

The increase in spending reflects new investments in better technology and production. Last week, Ford said it would form a joint venture with a South Korean company, SK Innovation, to manufacture battery cells at two plants in the United States for future Ford and Lincoln vehicles.

Ford’s stock was up nearly 5 percent Wednesday morning after the company’s electric vehicle announcements.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

James Bond, Meet Jeff Bezos: Amazon Makes $8.45 Billion Deal for MGM

“The real financial value behind this deal is the treasure trove of I.P. in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a statement.

Amazon’s appetite for movies became ravenous during the pandemic. It paid $125 million for the rights to “Coming 2 America,” $80 million for “Borat Subsequent Moviefilm,” and $200 million for “The Tomorrow War,” a Chris Pratt adventure that will arrive on Prime on July 2. Amazon also has Oscar ambitions, buying the rights to “Sound of Metal,” which was nominated for best picture and other top awards at this year’s ceremony.

When it comes to making its own hit films, Amazon has long struggled. MGM managers could help: Michael De Luca, MGM’s movie chairman, has a track record that includes, at various companies, the “Rush Hour,” “Austin Powers” and “Fifty Shades of Grey” franchises.

MGM also has a 17,000-episode television library and a TV studio that makes “Vikings,” “The Handmaid’s Tale,” “Fargo” and various “Real Housewives” shows. In 2014, MGM acquired Mark Burnett’s production company, One Three Media, which holds rights to competition series like “The Voice.” Mr. Burnett, a contentious figure in Hollywood because he helped shape Donald J. Trump’s image with “The Apprentice” and remained close to him during his divisive presidential term, serves as MGM’s television chairman.

Anchorage Capital, a New York investment firm, has been the majority owner of MGM for more than a decade. Before that, MGM was tossed between owners and, bitten by falling DVD revenue, eventually ending up in bankruptcy. It was worth about $2 billion in 2010, according to analysts.

Kevin Ulrich, Anchorage’s chief executive and MGM’s chairman, formally put the studio on the block late last year. Anchorage has been under pressure from various stakeholders to exit the investment, with some agitators complaining that Mr. Ulrich was overly enamored with Hollywood and should have sold years ago.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

The EU Could Seek Billions in Penalties if AstraZeneca Doesn’t Deliver Vaccine Doses

Lawyers representing the European Union said on Wednesday that they would seek potentially billions of euros in penalties from AstraZeneca if the pharmaceutical company failed to deliver tens of millions of doses of its Covid-19 vaccine that it is contractually required to supply.

In the first hearing in a lawsuit that the bloc has brought against AstraZeneca, lawyers representing the European Union told the judges in a Brussels courtroom that the bloc was seeking to apply a penalty of €10 (about $12) per dose per day that it has been delayed.

The bloc is demanding 90 million doses from the company by the end of June. The proposed penalties, if accepted by the judge, would begin on July 1 and could quickly balloon into billions of euros.

The European Union paid a little over €2 per dose for the vaccine, which AstraZeneca sold at cost for the first stretch of the pandemic.

A European Commission spokesman on health issues said that the bloc was not demanding both the money and the doses, and that if the doses were delivered, the demand for the penalties would be dropped. The spokesman, Stefan De Keersmaecker, said that the lawsuit’s prime goal was to get AstraZeneca to deliver the doses.

The lawsuit, which has pitted the pharmaceutical company against one of its biggest clients globally, has inflicted reputational damage on both parties.

The company says that the delays were caused by production problems and do not constitute a breach of contract. But they have been blamed for the European Union’s slow vaccination start, as shortages meant that the inoculation rollout was delayed in many of its member countries.

The bloc has largely caught up in recent weeks and is on track to get at least one dose to 70 percent of its adult population by July. But the political and reputational impact of the sluggish start has been damaging.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Going to the Moon via the Cloud

Before the widespread availability of this kind of computing, organizations built expensive prototypes to test their designs. “We actually went and built a full-scale prototype, and ran it to the end of life before we deployed it in the field,” said Brandon Haugh, a core-design engineer, referring to a nuclear reactor he worked on with the U.S. Navy. “That was a 20-year, multibillion dollar test.”

Today, Mr. Haugh is the director of modeling and simulation at the California-based nuclear engineering start-up Kairos Power, where he hones the design for affordable and safe reactors that Kairos hopes will help speed the world’s transition to clean energy.

Nuclear energy has long been regarded as one of the best options for zero-carbon electricity production — except for its prohibitive cost. But Kairos Power’s advanced reactors are being designed to produce power at costs that are competitive with natural gas.

“The democratization of high-performance computing has now come all the way down to the start-up, enabling companies like ours to rapidly iterate and move from concept to field deployment in record time,” Mr. Haugh said.

But high-performance computing in the cloud also has created new challenges.

In the last few years, there has been a proliferation of custom computer chips purposely built for specific types of mathematical problems. Similarly, there are now different types of memory and networking configurations within high-performance computing. And the different cloud providers have different specializations; one may be better at computational fluid dynamics while another is better at structural analysis.

The challenge, then, is picking the right configuration and getting the capacity when you need it — because demand has risen sharply. And while scientists and engineers are experts in their domains, they aren’t necessarily in server configurations, processors and the like.

This has given rise to a new kind of specialization — experts in high-performance cloud computing — and new cross-cloud platforms that act as one-stop shops where companies can pick the right combination of software and hardware. Rescale, which works closely with all the major cloud providers, is the dominant company in this field. It matches computing problems for businesses, like Firefly and Kairos, with the right cloud provider to deliver computing that scientists and engineers can use to solve problems faster or at lowest possible cost.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Iran Extends Nuclear Program Inspections Agreement

WASHINGTON — Iran agreed on Monday to a one-month extension of an agreement with international inspectors that would allow them to continue monitoring the country’s nuclear program, avoiding a major setback in the continuing negotiations with Tehran.

Under the agreement with the International Atomic Energy Agency, Iran will extend access to monitoring cameras at its nuclear facilities until June 24, Rafael Mariano Grossi, the agency’s director general, told reporters in Vienna.

The extension prevents a new crisis that could derail talks among world powers, including the United States, aimed at bringing Washington back to the 2015 nuclear deal that President Donald J. Trump withdrew from three years ago. Restoring the deal, including a commitment from Iran to resume all its obligations under the agreement, is a top priority for President Biden.

Iran’s Supreme National Security Council said in a statement that the decision was made “so that negotiations have the necessary chance to progress and bear results.”

reached a three-month compromise under which inspectors would retain partial access to nuclear production facilities.

Under that agreement, Iran allowed cameras to continue monitoring its facilities but insisted on retaining possession of the footage until an agreement to restore the larger nuclear deal was reached. The country’s state media reported on Monday that it would share the footage with the International Atomic Energy Agency if the United States lifted sanctions as part of a restored deal, but would erase the recordings otherwise.

The agreement will allow for other methods of continued international visibility into the nuclear program, but neither Iran nor the agency has publicly provided full details about their compromise.

“I want to stress this is not ideal,” Mr. Grossi said. “This is like an emergency device that we came up with in order for us to continue having these monitoring activities.”

sanctions that are strangling Iran’s oil exports and economy.

Because Tehran refuses to negotiate directly with the United States over the 2015 deal, which it says that Mr. Trump violated without cause, American negotiators have been working from a nearby hotel and communicating with Iranian officials through intermediaries.

Appearing on “This Week” on ABC on Sunday, Secretary of State Antony J. Blinken said that the talks had made progress but suggested that Tehran was delaying further progress.

“Iran, I think, knows what it needs to do to come back into compliance on the nuclear side. And what we haven’t yet seen is whether Iran is ready and willing to make a decision to do what it has to do,” he said. “That’s the test, and we don’t yet have an answer.”

on Twitter. He asked if the United States was ready to return to the deal by lifting the sanctions and said that Iran would return to its full commitments once Washington had done so.

“Lifting Trump’s sanctions is a legal & moral obligation,” Iran’s foreign minister, Javad Zarif, tweeted on Sunday. “NOT negotiating leverage.”

He added of the sanctions, “Didn’t work for Trump — won’t work for you.”

Iran has steadily expanded its nuclear program since Mr. Trump’s withdrawal from the deal. Its government said on Monday that the stockpile of enriched uranium at higher levels had increased in the past four months.

Iran now has a stockpile of 2.5 kilograms of uranium enriched to 60 percent purity, 90 kilograms of enriched uranium at 20 percent and 5,000 kilograms of enriched uranium at 5 percent, Ali Akbar Salehi, the head of the country’s Atomic Energy Organization, told state television.

Uranium enriched to 60 percent purity is a relatively short step from bomb fuel, which is typically considered 90 percent or higher. While uranium enriched to 60 percent can be used as fuel in civilian nuclear reactors, such applications have been discouraged globally because it can easily be turned into bomb fuel.

The nuclear deal with world powers capped Iran’s enrichment and stockpiling of nuclear material at 2.2 kilograms of uranium enriched to a level of 3.7 percent.

Rick Gladstone contributed reporting.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Lordstown Motors halves the number of vehicles it will make in 2021.

Lordstown Motors, a start-up aiming to make electric pickup trucks, said on Monday that it would “at best” make just 50 percent of the vehicles it had previously hoped to this year.

Lordstown gained attention because it purchased an auto plant in Lordstown, Ohio, that General Motors had closed. It was also once hailed by former President Donald Trump for saving manufacturing jobs.

The company, which said Monday it was on track to start production in September, became a publicly traded company last year by merging with a special purpose acquisition vehicle, a company set up with cash from investors and a stock listing. Several other electric vehicle and related businesses have gone public through similar mergers in recent months taking advantage of investors desire to find the next Tesla.

Lordstown, which is being investigated by the Securities and Exchange Commission, said it lost $125 million in the first quarter of 2021, but ended the period with $587 million in cash.

After the news of its production outlook was released, Lordstown’s stock fell about 8 percent in after-hours trading, to just under $9. The stock briefly traded at about $30 last year.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Massacre in Peru Leaves 18 Dead

Eighteen people died in a massacre in a remote coca-growing region of Peru, the national police said, reviving memories of the country’s brutal left-wing insurgency, just weeks ahead of presidential elections.

The murders, one of Peru’s worst atrocities in decades, occurred in the town of San Miguel del Ene, the head of national police, Gen. César Cervantes, told local television on Monday.

Police officers are on their way to the town, which is eight hours from the closest police base, to investigate the crimes, he said.

Local media reported that pamphlets were found with the bodies that are attributed to a dissident faction of the Maoist rebel group, the Shining Path, which had terrorized the Peruvian countryside before being brutally put down by security forces in the 1990s by the authoritarian leader Alberto Fujimori.

The mountainous region around San Miguel del Ene, a sparsely populated, forested area known for cocaine production and trafficking, is believed to be the last significant operating area for Shining Path remnants.

The massacre could shake up Peru’s political landscape just two weeks ahead of the country’s highly charged presidential vote, which has pitted Keiko Fujimori, the daughter of the now-jailed Mr. Fujimori, against Pedro Castillo, a radical left-wing teachers’ union organizer.

Mr. Castillo’s opponents have sought to portray him as a Shining Path sympathizer who would plunge the country back into the chaos of the insurgency. Mr. Castillo has denied the charges and has sought to play down his party’s Marxist economic proposals since emerging as the leading candidate in April.

The latest polls show Mr. Castillo still slightly ahead in the race, though his lead has steadily shrunk in recent weeks, putting Ms. Fujimori within striking distance of victory in most national surveys.

The pamphlets reportedly found on the massacre victims called for residents to boycott the vote and called Ms. Fujimori’s supporters traitors.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<