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<ul><li>This year will likely be remembered for marking its emergence as the world's most populous nation.</li><li>By 2050, the UN expects <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> will have 1.6 billion residents and China 1.3 billion.</li><li>A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics.</li></ul> If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report. "In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote <keyword id="15992875" type="General" weightage="50" keywordseo="shigesaburo-okumura" source="Orion">Shigesaburo Okumura</keyword>, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. This year will likely be remembered for marking its emergence as the world's most populous nation, Okumara wrote. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion. In July, the UN forecast that China's population would fall in 2023 while India's would surpass it. By 2050, the UN expects India will have 1.6 billion residents and China 1.3 billion. A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics, Okumara said. Moreover, decoupling between the US and China and the rebuilding of technology supply chains to exclude China benefits India. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> is building iPhone 14s in India. <keyword id="292865" type="General" weightage="50" keywordseo="natarajan-chandrasekaran" source="Orion">Natarajan Chandrasekaran</keyword>, chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, has talked of plans to produce semiconductors in the subcontinent. In March, India will host the plenary session of the <keyword id="833063" type="General" weightage="50" keywordseo="trilateral-commission" source="Orion">Trilateral Commission</keyword> for the first time. This year, it is also chairing the Group of 20, a role that will involve a leaders' summit and many ministerial meetings. The Modi government will be eager to show leadership ahead of India's own elections in 2024, Okumara wrote. "The new year thus could mark the beginning of a tripolar world, involving the US, China and India. New Delhi is undeniably on the rise," Okumara concluded. <keyword id="47256" type="General" weightage="50" keywordseo="challenges" source="Orion">Challenges</keyword>, however, are mounting for India's economy with the GDP forecast at a half-century low. Motilal Oswal Financial Services forecast in a note that after growing strongly for two consecutive years, India's real GDP growth would decelerate to 5.2 per cent YoY in FY24, while nominal GDP growth would weaken even sharply to 7-7.5 per cent, led by easing inflation. A combination of factors such as slower global economy, fading pent-up demand and normalising base effects would contribute to slower real growth. With an expected retail inflation print at just 4.3 per cent and a mere 1 per cent growth in the wholesale price index (<keyword id="46000" type="General" weightage="50" keywordseo="wpi" source="Orion">WPI</keyword>) in FY24, the GDP deflator could be around 2 per cent, dragging down India's nominal GDP growth to the lowest level compared to any year between the early 1970s and FY19 (that is, half-a-century pre-Covid period), the report said. Such slow growth rate would have some serious implications for the macro economy and financial markets. "Overall, we believe that unlike the past 12-15 months, the narrative will reverse in FY24. Inflation concerns will take a back seat and growth worries will resurface. This may be true not only for India, but also for the entire global economy. At the same time, restrictive monetary policy will fail to boost financial markets. Accordingly, CY23 could be very painful," the report said. Revenue of listed companies is highly correlated with nominal GDP growth (and WPI-inflation). In case of single-digit nominal GDP growth, corporate sales growth is also expected to weaken from an average of &gt;30 per cent YoY in the past seven quarters to single digits in FY24. With an expectation of weaker nominal GDP growth in FY24, we estimate India's debt growth to also weaken. Thus, bank credit growth could also moderate from 15-16 per cent in FY23 to 12 per cent in FY24 with a downward bias, the report said. As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm, according to a comprehensive new study by the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> in September. Several historical indicators of global recessions are already flashing warnings. The global economy is now in its steepest slowdown following a post-recession recovery since 1970. Global consumer confidence has already suffered a much sharper decline than in the run-up to previous global recessions. The world's three largest economies -- United States, China, and the Euro zone -- have been slowing sharply. The experience of the 1970s, the policy responses to the 1975 global recession, the subsequent period of stagflation, and the global recession of 1982 illustrate the risk of allowing inflation to remain elevated for long while growth is weak. The 1982 global recession coincided with the second-lowest growth rate in developing economies over the past five decades, second only to 2020. It triggered more than 40 debt crises and was followed by a decade of lost growth in many developing economies, the World Bank said. India's current account deficit expectedly swelled to a 37-quarter high of $36.4 billion (4.4 per cent of GDP) in Q2 FY23 from $18.2 billion in Q1 FY23 (2.2 per cent of GDP). The resulting net balance of payments (BoP) position registered a deficit of $30.4 billion (3.7 per cent of GDP), its weakest since the 2008 global financial crisis, compared to a surplus of $4.6 billion in Q1 FY23, Acuite Ratings said. Amid an uncertain geopolitical environment and slowing global growth, however, risks will remain on both current account balance and capital flows, it said. With excessive demand supply disparities, bloated supply chain management and battle against inflation weighing down on global economic growth, the New Year started on a gloomy outlook as IMF predicts global GDP growth topping at 2.7 per cent, narrowly escaping recession, Nuvama Professional Clients Group said in a note. The economy has been supported by sturdy domestic demand as indicated in GST collections and consumer spending. However, the industrial output contracted by 4 per cent YoY in October, the worst in over two years, hobbled by the drop in orders from western markets and weak investment at home, the note said. Standard Chartered said in a report that 2023 global macroeconomic backdrop is likely to be challenging given the heightened risk of a slowdown as lagged effects of monetary policy tightening leads to a weaker demand scenario and lower corporate earnings performance. As the monetary policy rate cycle peaks amid receding inflationary pressures in the second half of the year, risk sentiment could improve with the growth outlook stabilising. "In our assessment," the bank noted, "India's growth-inflation dynamics is stable and better than its peers." The post-pandemic economic recovery cycle remains strong amid supportive government policies and a pick-up in investments. Further, the likely broadening of the rural economy's recovery and of the service sectors is a strong tailwind, the note said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-startup-economy-stares-at-deepening-funding-winter-in-2023/articleshow/96807902.cms">India's startup economy stares at deepening funding winter in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ar-rahman-unknown-facts-about-about-indian-composer-and-oscar-winner/articleshow/96793884.cms">AR Rahman can leave dinner midway if inspiration strikes &amp; other anecdotes about the reticent music maestro</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-mulls-2nd-covid-booster-even-as-coverage-of-first-dose-remains-feeble/articleshow/96792098.cms">India mulls 2nd Covid booster even as coverage of first dose remains feeble</a>

India could emerge as the third pole despite GDP growth worries say experts

<ul class="summary-list"><li>The EU plans to turn to <keyword id="11894607" type="UNKNOWN" weightage="60" keywordseo="africa" source="Orion">Africa</keyword> as it weans itself off <keyword id="13654526" type="UNKNOWN" weightage="60" keywordseo="russian-gas" source="Orion">Russian gas</keyword>, <a href="https://www.bloomberg.com/news/articles/2022-05-02/eu-plans-to-court-africa-to-help-replace-russian-gas-imports?srnd=premium-europe&amp;sref=lAVQtUwz">Bloomberg</a> reported.</li><li>The EU also aims to import more <keyword id="6354703" type="UNKNOWN" weightage="60" keywordseo="natural-gas" source="Orion">natural gas</keyword> from the US and Canada, per the report.</li></ul>The European Union is planning to turn to Africa to help wean itself off Russian natural <keyword id="11955852" type="UNKNOWN" weightage="60" keywordseo="gas" source="Orion">gas</keyword>, <a href="https://www.bloomberg.com/news/articles/2022-05-02/eu-plans-to-court-africa-to-help-replace-russian-gas-imports?srnd=premium-europe&amp;sref=lAVQtUwz">Bloomberg</a> reported, citing a draft document detailing the trade bloc's <keyword id="11917806" type="UNKNOWN" weightage="100" keywordseo="energy" source="Orion">energy</keyword> strategy.Countries in western Africa, like Nigeria, Senegal, and Angola, in particular have largely untapped potential for liquefied natural gas, the European Commission said in the document, per Bloomberg.A number of gas pipeline projects linking Africa to Europe have been studied in recent years, and feasibility studies are ongoing to build the world's longest offshore pipeline, carrying natural gas from Nigeria to Morocco and Europe, according to a Nigerian <a href="https://twitter.com/toluogunlesi/status/1520769409404620805">presidential adviser</a>.Europe gets <a href="https://ec.europa.eu/eurostat/cache/infographs/energy/bloc-2c.html" target="_blank" rel="noopener noreferrer">about 40% of its natural gas</a> from Russia, but the country's invasion of Ukraine has accelerated the EU's efforts to reduce reliance on Russian supplies.The European Commission has proposed cutting EU demand for Russian natural gas by two-thirds before the end of the year under a <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511">plan</a> to diversify supplies and speed up the rollout of renewable gases. The EU has agreed to <a href="https://markets.businessinsider.com/news/commodities/eu-russia-oil-coal-natural-gas-fossil-fuels-energy-sanctions-2022-4">stop imports of Russian coal</a> starting later this year, but hasn't announced an embargo on natural gas or oil.In the draft strategy document, the European Commission said it planned to boost imports of liquefied natural gas by 50 billion cubic meters and pipeline gas from countries other than Russia by 10 billion cubic meters, per Bloomberg.This includes increasing liquefied natural gas imports from the US by 15 billion cubic meters in 2022, with total US imports to Europe of around 50 billion cubic meters each year until 2030.In addition, the commission said in the document that it planned to support efforts to double the current capacity of the Southern Gas Corridor – which transports natural gas from the Caspian Sea to Europe – to 20 billion cubic meters a year. The bloc also plans to boost liquefied natural gas supplies through a trilateral memorandum of understanding with Egypt and Israel, per Bloomberg.A European Commission spokesperson told Insider that it was standard policy not to comment on leaked documents, but added: "I can tell you simply that the Commission is working on the development of an International Energy Strategy, and that this is tentatively scheduled for adoption on 18 May."Japan and South Korea have already redirected some liquefied natural gas to Europe while the Commission is in discussions with Canada to potentially increase gas exports to Europe in the future, Bloomberg reported, citing the draft document.In 2019, around 16% of the EU's natural gas imports came from Norway, 8% from Algeria, and 5% from Qatar, per the <a href="https://ec.europa.eu/eurostat/cache/infographs/energy/bloc-2c.html?lang=en">European Commission</a>. These countries and Russia collectively supplied 70% of the EU's natural gas imports."In terms of pipeline gas, Norway has already increased its deliveries to Europe and both Algeria and Azerbaijan have indicated their willingness to do so," the commission said in the draft document, per Bloomberg. It added that Qatar "stands ready to facilitate swaps with Asian countries."The commission also plans to import 10 million tons of renewable hydrogen by 2030, Bloomberg reported, citing the draft document.The <a href="https://www.iea.org/articles/frequently-asked-questions-on-energy-security">International Energy Agency</a> said on April 13 that Russia exports about $400 million worth of natural gas to the EU every day.Ukrainian President Volodymyr Zelenskyy has previously spoken out against European countries continuing to use Russian energy supplies, telling the BBC that they were making money <a href="https://www.businessinsider.com/russia-ukraine-gas-oil-energy-zelenskyy-european-countries-money-blood-2022-4?r=US&amp;IR=T">"out of blood."</a> But German Chancellor Olaf Scholz has said a <a href="https://www.businessinsider.com/germany-russian-gas-embargo-wont-end-war-putin-scholz-ukraine-2022-4?r=US&amp;IR=T">Western embargo</a> on Russian gas imports probably wouldn't stop the war, telling Der Spiegel that Putin would never have started the war if he were open to economic arguments.

The EU is planning to turn to Africa to help wean itself off Russian natural gas, a report says

<ul class="summary-list"><li>The US, UK, and Australia recently announced a pact meant to boost their militaries' ties and capabilities.</li><li>A central part of the pact is the US and UK's pledge to help Australia acquire nuclear-powered subs.</li></ul>In September, Australia, the UK, and the US announced a trilateral security pact aimed at strengthening their defense ties. Their leaders <a href="https://www.businessinsider.com/biden-new-security-partnership-auukus-uk-australia-counter-china-technology-2021-9" target="_top">stressed that it wasn't aimed at another country</a>, but it is widely viewed as a means to counter China.The central component of that pact is the sharing of high-end technology and cooperation on weapon development and procurement. What stood out, though, was the US and UK's pledge to help Australia acquire eight nuclear-powered submarines.The move is historic. The US has only shared nuclear-propulsion technology once - with the UK in 1958. It will also put Australia in a very exclusive military club.Only six other countries operate nuclear-powered subs. The US, UK, France, India, Russia, and China have built up their fleets for decades, and they now include a number of classes with distinct missions.<h2>Nuclear-powered ballistic-missile subs</h2><div type="image" title="Sailors on bridge of Navy submarine USS Alabama" height="1419" width="2000" msid="87518385" hostid="261"></div>The largest and most feared submarines today are nuclear-powered ballistic-missile subs, classified as SSBNs.They can sail deeper and faster than conventionally powered subs. They also carry large nuclear payloads and remain submerged for months - making them effective second-strike weapons.The US, UK, France, and India each operate a single class of SSBN.The US Navy's 14 <a href="https://submarinesuppliers.org/programs/ssbn/ohio-class-ssbn/" target="_top">Ohio-class</a> SSBNs can carry 24 submarine-launched ballistic missiles (SLBMs), while the Royal Navy's four <a href="https://www.naval-technology.com/projects/vanguard-submarine/" target="_top">Vanguard-class</a> can carry 16.Both navies use the <a href="https://www.navy.mil/Resources/Fact-Files/Display-FactFiles/Article/2169285/trident-ii-d5-missile/" target="_top">Trident II</a> SLBM. Each Trident II has a range of 4,600 miles and can carry multiple independently targetable reentry vehicles (MIRVs), which substantially increase the number of warheads on each missile.The French navy's four <a href="https://www.naval-technology.com/projects/triomphant/" target="_top">Triomphant-class</a> boats carry 16 <a href="https://missilethreat.csis.org/missile/m45/" target="_top">M45</a> or <a href="https://www.navalnews.com/naval-news/2021/04/video-france-successfully-tests-an-m51-ballistic-missile/" target="_top">M51</a> SLBMs, which can carry up to six and 10 MIRVs, respectively. The M45's range is about 3,700 miles and the M51's is 4,900 miles.<div type="image" title="Russia Borei ballistic missile submarine Yury Dolgoruky" height="1333" width="2000" msid="87518386" hostid="261"></div>India's <a href="https://www.navalnews.com/naval-news/2021/05/5-years-of-submarine-secrecy-indias-unique-arihant-class-is-still-in-hiding/#prettyPhoto" target="_top">Arihant-class</a> has four silos capable of launching either 12 <a href="https://missilethreat.csis.org/missile/sagarika-shaurya/" target="_top">K-15</a> short-range SLBMs or eight medium-range <a href="https://www.thehindu.com/news/national/india-successfully-test-fires-3500-km-k-4-slbm/article30601739.ece" target="_top">K-4</a> SLBMs. The K-15 has a range of 460 miles, while the K-4 has a range of 2,170 miles.India plans to have a total of four Arihant SSBNs by 2030. One is in service, and the second is set for commissioning next year.China's four <a href="http://www.military-today.com/navy/jin_class.htm" target="_top">Type 094-class</a> boats can carry 12 <a href="https://missilethreat.csis.org/missile/jl-2/" target="_top">JL-2</a> SLBMs. Each of those missiles can carry three to eight MIRVs and are believed to have a range between 4,500 to 5,500 miles. Two more Type 094s are under construction, the US Defense Department said in 2020. China also has an older <a href="https://nationalinterest.org/blog/the-buzz/chinas-first-nuclear-powered-boomer-submarine-was-total-19054?nopaging=1" target="_top">Type 092</a> SSBN, though it is likely only used for testing.Russia's navy has the most diverse SSBN fleet: one <a href="https://www.naval-technology.com/projects/ssbn-typhoon-class/" target="_top">Typhoon-class</a>, one <a href="http://www.military-today.com/navy/delta_iii_class.htm" target="_top">Delta III-class</a>, six <a href="http://www.military-today.com/navy/delta_iv_class.htm" target="_top">Delta IVs</a>, and four of the new <a href="https://www.businessinsider.com/russia-navy-replacing-oldest-soviet-ballistic-missile-submarines-2021-6" target="_top">Borei-class</a>.Each Borei-class sub can fire 16 <a href="https://missilethreat.csis.org/missile/ss-n-32-bulava/" target="_top">RSM-56 Bulava</a> SLBMs, which can carry up to 10 MIRVS and are believed to have a roughly 5,000-mile range. Russia plans to have 10 Boreis in service by the end of the decade.<h2>Nuclear-powered attack and cruise-missile subs</h2><div type="image" title="Navy submarine Ohio SSGN conversion" height="745" width="1144" msid="87518387" hostid="261"></div>Nuclear-powered attack and cruise-missile submarines - designated SSN and SSGN, respectively - can't carry ballistic missiles, but they are equally important.SSNs can hunt and kill enemy ships and submarines, and both types can attack targets deep inland with cruise missiles.The US Navy <a href="https://www.navy.mil/Resources/Fact-Files/Display-FactFiles/Article/2169558/attack-submarines-ssn/" target="_top">operates</a> three types of SSN: the Los Angeles, Seawolf, and Virginia classes.The Los Angeles class is the oldest, and 28 are still active. They have four torpedo tubes, and later versions are fitted with 12 vertical launch systems (VLS) for cruise missiles.The Seawolf class was developed at the end of the Cold War and is designed for sensitive missions. It is also heavily armed, carrying up to 50 torpedoes or cruise missiles it can fire from its eight torpedo tubes.The Virginia class is the newest, and 19 are now active. They have four torpedo tubes and 12 VLS tubes for 37 torpedo-sized weapons. Future <a href="https://www.navalnews.com/naval-news/2021/07/us-navys-virginia-class-submarines-get-more-tomahawk-missiles/#prettyPhoto" target="_top">Blo</a><a href="https://www.navalnews.com/naval-news/2021/07/us-navys-virginia-class-submarines-get-more-tomahawk-missiles/#prettyPhoto" target="_top">c</a><a href="https://www.navalnews.com/naval-news/2021/07/us-navys-virginia-class-submarines-get-more-tomahawk-missiles/#prettyPhoto" target="_top">k V </a><a href="https://www.navalnews.com/naval-news/2021/07/us-navys-virginia-class-submarines-get-more-tomahawk-missiles/#prettyPhoto" target="_top">Virginias</a> will have even more VLS tubes, increasing their armament to 65 torpedo-sized weapons.Four of the US Navy's Ohio-class SSBNs were <a href="https://www.navalnews.com/naval-news/2020/12/u-s-navys-ohio-class-submarine-to-get-new-hypersonic-weapons/#prettyPhoto" target="_top">converted into SSGNs</a> in the 2000s. Each can now carry as many as 154 cruise missiles.<div type="image" title="British Royal Navy submarine HMS Triumph" height="1500" width="2000" msid="87518388" hostid="261"></div>The Royal Navy's two <a href="http://www.hisutton.com/Royal-Navy-Trafalgar-Class-Submarine.html" target="_top">Trafalgar-class</a> attack subs have five torpedo tubes, while newer <a href="https://www.naval-technology.com/projects/astute/" target="_top">Astute-class</a> boats, of which there are four, have six tubes. Both can fire torpedoes and cruise missiles and can carry 30 and 38 torpedo-size weapons, respectively.France's five <a href="https://www.naval-technology.com/projects/rubis/" target="_top">Rubis-class</a> and single <a href="http://www.hisutton.com/Suffren-Barracuda-Class-Submarine.html" target="_top">Suffren-class</a> SSNs also rely on their torpedo tubes - four and eight of them, respectively - to launch torpedoes and missiles.China's six <a href="https://www.navalnews.com/naval-news/2020/11/the-chinese-navys-most-powerful-attack-submarine-the-type-093a/#prettyPhoto" target="_top">Type 093-class</a> SSNs each have six tubes capable of firing torpedoes and cruise missiles. They are regarded as China's most powerful attack submarines, and some may now be equipped with VLS tubes.Like its SSBN fleet, Russia's SSN and SSGN fleet is large and diverse, comprising two <a href="https://nationalinterest.org/blog/buzz/best-submarine-you-never-heard-meet-russias-deadly-sierra-class-submarine-46587" target="_top">Sierra-class</a>, three <a href="http://www.military-today.com/navy/victor_iii_class.htm" target="_top">Victor III-class</a>, and 10 <a href="https://nationalinterest.org/blog/reboot/why-russia%E2%80%99s-akula-class-submarine-scares-us-navy-181230" target="_top">Akula-class</a> SSNs, as well as eight <a href="http://www.hisutton.com/Update-on-Russian-Navy-Pr949AM-Modernized-OSCAR-II.html" target="_top">Oscar II-class</a> and two <a href="https://www.businessinsider.com/russia-northern-fleet-new-class-of-subs-worry-us-navy-2021-6" target="_top">Yasen-class</a> SSGNs.In 2019, India <a href="https://www.indiatoday.in/india-today-insight/story/why-india-is-leasing-a-second-nuclear-powered-attack-submarine-from-russia-1849277-2021-09-04" target="_top">agreed</a> to lease one of Russia's Akula-class SSNs for $3 billion. It will be the third Russian SSN leased by India and is expected to be delivered by 2026.<h2>Australia's nuclear sub</h2><div type="image" title="Royal Australian Navy submarine HMAS Collins" height="1333" width="2000" msid="87518389" hostid="261"></div>Australia's future nuclear-powered subs won't be SSBNs, but not much else is known about them.Australia may select one of the existing American or British designs - most likely of the Virginia class or the Astute class. Adopting an existing design would allow construction to begin relatively soon.Australia could also wait for the British <a href="https://www.forbes.com/sites/hisutton/2019/12/08/new-intelligence-on-the-secretive-next-generation-british-attack-submarine-ssnr/?sh=5e83a890107c" target="_top">SSN(R)</a> or American <a href="https://www.businessinsider.com/us-navy-plans-to-make-future-attack-submarine-apex-predator-2021-10" target="_top">SSN(X)</a> programs to develop and adopt one of those designs, though it will take more than a decade for either of them to hit the water.Australia may also pursue a totally new, domestically developed design with only technical help from the British and Americans.Canberra has made clear that it wants most of its future submarines to be built in Australia. This was <a href="https://www.smh.com.au/politics/federal/lost-the-plot-how-an-obsession-with-local-jobs-blew-out-australia-s-90-billion-submarine-program-20210913-p58r34.html" target="_top">one reason</a> Australia's sub deal with France fell through.But it's not known how much of the work the US and UK will cede to Australia, nor is it known if Australia can develop and build such a complicated system domestically. Australia's six <a href="https://www.theguardian.com/world/2021/oct/15/nuclear-submarines-uncertain-delivery-date-means-ageing-collins-class-could-be-in-use-until-2050" target="_top">Collins-class</a> submarines were designed in Sweden, and some were partially built there.Regardless of how they are built, the new subs will take a decade or longer. The admiral leading the country's <keyword id="12145963" type="UNKNOWN" weightage="60" keywordseo="nuclear-powered-submarine" source="Orion">nuclear-powered submarine</keyword> task force <a href="https://twitter.com/stephendziedzic/status/1453136986399645702" target="_top">told</a> lawmakers in October that he wants "at least one boat" in the water by 2040.

Australia's new nuclear-powered subs will take decades to arrive, but they'll put it in a very exclusive military club

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersJapanese Prime Minister Shinzo Abe and European Council President Donald Tusk</div></div></div><ul><li>The European Union and Japan reached a major free trade deal on Tuesday.</li><li>European Council President Donald Tusk said the deal showed that the EU and Japan "stand together against protectionism."</li><li>The move is another example of how many governments - from the EU to Canada to even China - have responded to US President Donald Trump's recent trade protectionism.</li></ul>Leaders from the European Union and Japan formally signed a new free trade pact on Tuesday, the latest in a series of moves toward trade liberalization and a direct rebuke to US President Donald Trump's recent trade protectionism.The deal, known as the EU-Japan Economic Partnership Agreement or EPA, <a href="http://europa.eu/rapid/press-release_IP-18-4526_en.htm">would lower most bilateral tariffs</a> including high Japanese duties on EU agricultural products and EU tariffs on Japanese cars. According the European Commission, the deal is projected to <a href="http://europa.eu/rapid/press-release_IP-18-4526_en.htm">eliminate just under $1.2 billion worth of tariffs</a> for EU exporters and double the amount for Japanese firms.In addition to creating a free-trade zone for countries that make up around 30% of the world's GDP, the EPA is also the latest in a series of liberalizing agreements that have been initiated or formalized by major economic powers around the world.The deals come as Trump pushes the world's largest economy into a more protectionist direction with various tariffs and trade restrictions. European Council President Donald Tusk appeared to use the EPA signing to rebuke the US president's recent actions."This is an act of enormous strategic importance for the rules-based international order, at a time when some are questioning this order," <a href="http://www.consilium.europa.eu/en/press/press-releases/2018/07/17/remarks-by-president-donald-tusk-after-the-eu-japan-summit-in-tokyo/">Tusk said</a>. "We are sending a clear message that we stand together against protectionism."Japanese Prime Minister Shinzo Abe also offered a backhanded condemnation of Trump's tariffs."While protectionism is spreading in the world, Japan and the European Union will take the lead as flag bearers for free trade," Abe said.<h2>A rash of major trade deals</h2>Other major economic powers have also lined up similar deals in recent months. While many have long been in the making, the movement gave officials the opportunity to express a commitment to free trade and the elimination of trade barriers. In addition its deal with Japan, the EU is nearing ratification of a landmark agreement with <a href="https://www.reuters.com/article/us-italy-canada-trade/italy-says-it-wont-ratify-eu-canada-trade-deal-canada-plays-down-threat-idUSKBN1K318Q">Canada</a>, though some stumbling blocks remain. The European bloc is also pursuing deals with <a href="http://ec.europa.eu/trade/policy/in-focus/eu-mexico-trade-agreement/">Mexico</a>, <a href="http://ec.europa.eu/trade/policy/in-focus/eu-australia-trade-agreement/">Australia</a>, and <a href="https://www.reuters.com/article/us-argentina-g20-eu-mercosur/eu-official-sees-trade-deal-with-mercosur-toward-year-end-idUSKCN1IM2H5">Mercosur</a>, the South American trading bloc that includes Argentina, Brazil, Paraguay and Uruguay.Even China, Trump's most recent tariff target, has gotten in on the action. The country recently lowered tariffs on <a href="http://www.businessinsider.com/china-cuts-tariffs-on-auto-imports-as-talk-of-trumps-trade-war-eases-2018-5">products including vehicles</a> and <a href="http://www.businessinsider.com/china-alliance-with-eu-against-trumps-trade-policies-2018-7">launched talks with the EU</a> about<a href="http://www.businessinsider.com/china-eu-teaming-up-against-trump-in-trade-war-2018-6"> building a stronger trade relationship</a>.In a joint statement on Monday, <a href="https://www.theguardian.com/world/2018/jul/16/donald-tusk-calls-on-europe-china-us-and-russia-to-prevent-global-chaos">Chinese and EU leaders</a> reiterated their dedication to "resisting protectionism and unilateralism, and making globalization more open, balanced, inclusive, and beneficial to all."China has also cozied up to other countries in the region, including Japan and South Korea, in an effort to solidify its economic strength in the region. During a meeting in May, Chinese Premier Li Keqiang expressed a desire for a trilateral free-trade deal between the three powers."In the current circumstances, China, Japan and Korea should stand even more firmly together, uphold the rules-based multilateral trading system, and proudly oppose protectionism and unilateral actions," Li said. The recent actions from nearly every major economy seem to be pointed to a more open trading system with fewer barriers, a stark contrast to Trump's recent actions.Not only has the president rolled new tariffs on allies <a href="http://www.businessinsider.com/trump-steel-aluminum-tariffs-trade-war-europe-canada-mexico-2018-5">including Canada, Mexico, and the EU</a>, but he has also turned away from major free-trade agreements like <a href="http://www.businessinsider.com/trump-tpp-shift-trade-war-tariff-policy-confusion-2018-4">the Trans-Pacific Partnership</a> and floated <a href="http://www.businessinsider.com/nafta-negotiations-news-deal-us-mexico-canada-thin-ice-2018-5">the idea of pulling the US out</a> of the North American Free Trade Agreement, or NAFTA. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/north-korean-defector-calls-out-kim-jong-un-terrorist-singapore-summit-2018-6">North Korean defector: Kim Jong Un 'is a terrorist'</a></h3> <div> </div> </div>

The European Union and Japan just signed a new trade deal, and it shows how the rest of the world is fighting back against Trump's attacks

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">European Commission Audiovisual Service /Georges BoulougourisJean-Claude Juncker, President of the EC, received Donald Tusk, President of the European Council, and Martin Schulz, President of the EP, for a trilateral meeting.</div></div></div>There is a persisting belief among people in Britain that European Union officials are unelected.It is hard to pinpoint exactly where that idea comes from but the different rules that apply to different European bodies are probably partly to blame for the confusion.UKIP leader and MEP Nigel Farage regularly accuses EU officials of being "<a href="http://www.express.co.uk/news/politics/608535/Nigel-Farage-blasts-EU-boss-Jean-Claude-Juncker-Dimitris-Avramopoulos-Britain-exit" target="_blank">unelected</a>" while on Tuesday Conservative minister <a href="http://uk.businessinsider.com/priti-patel-launches-women-for-britain-2016-3" target="_blank">Priti Patel described the EU as "having undemocratic institutions."</a><a href="http://blogs.lse.ac.uk/politicsandpolicy/brits-know-less-about-the-eu-than-anyone-else/">Brits are also the people in the EU who know the least</a> about the 28-nation bloc, so a lack of interest in the subject is probably another reason.Yet, with the June 23 deadline looming for the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> to vote on whether or not it wants to remain in the European Union, British people are starting to show more interest in how the EU works and how the much-criticised politicians in Brussels are elected.President of the European Council The European Council comprises the heads of state of the 28 nations of the European Union, the President of the European Council, the President of the European Commission, and the High Representative for Foreign Affairs &amp; Security Policy.Poland's Donald Tusk is the current President of the European Council, and was elected by the heads of the 28 member states of the European Union. The council decides on the EU's overall direction and priorities, but does not pass laws. The President of the European Commission Europe's political parties put forward a candidate for the presidency of the European Commission. The European Council then votes on a nominee for the post of president - the <a href="http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A12012E%2FTXT" target="_blank">Lisbon Treaty</a> stipulates that the Council must take into account the European elections - who becomes the Commission's new president after obtaining approval in the new Parliament.The most recent campaign for the presidency in 2014 saw Luxembourg's Jean-Claude Juncker come to power after his European People's Party (EPP) won a majority of votes in the European elections. Those running against him were Martin Schulz for the Socialists and Democrats, Guy Verhofstadt for ALDE, Ska Keller for the Greens, and Alexis Tsipras for the European Left. The campaign involves debates and televised appearances.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Youtube/ZDFMartin Schulz and Jean-Claude Juncker debate on German TV before the European elections.</div></div></div>Members of the European Parliament (MEPs) There are 751 members in the European Parliament, 73 of them represent the United Kingdom. MEPs are elected every five years, when the general public of each member state votes on who they want to represent them in Europe. Once elected, MEPs from across the continent form political groups with MEPs who have similar ideologies, regardless of their nationalities.President of the European ParliamentMartin Schulz, a German MEP, was re-elected as the President of the European Parliament in 2014 for a second two-and-a-half-year term, the first time a president of the European Parliament has ever been re-elected.MEPs vote for a president in the beginning and the middle of each parliamentary term. They elect a president, 14 vice-presidents, and five quaestors who all form the Parliament's bureau. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/out-of-control-candidates-at-gop-debate-donald-trump-ted-cruz-marco-rubio-2016-2">'You're the basket case' - here is the moment things spiraled out of control at the GOP debate </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="U1cDhkMTE6tooTEC0jL3ULpT3BScHsre" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Some British politicians have a skewed idea of how the top EU officials come to power - here is how it happens

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul class="summary-list"><li>Silicon Valley venture capitalist William Elkus once was a trustee for one of Jeffrey Epstein's foundations in the 1990s, according to documents reviewed by Business Insider.&#xa0;</li><li>Elkus and Epstein each managed money for wealthy families in the late 1980s and 1990s. Elkus went on to found Clearstone Venture Partners in 1998, which invested in PayPal, eToys, and United Online.</li><li>Epstein did not invest with or advise Clearstone, its chief financial officer said. Nearly 30 other Silicon Valley firms previously <a href="https://www.businessinsider.com/top-silicon-valley-vcs-deny-taking-money-from-jeffrey-epstein-2019-8">told Business Insider</a> that the now-deceased sex offender was not a direct investor.&#xa0;</li><li>By 1998, Elkus was no longer a trustee. Ira Zicherman, a former Bear Stearns senior managing director, was in that role for at least two years.&#xa0;</li><li><a href="https://www.businessinsider.com/heres-the-latest-jeffrey-epstein-news-from-finances-to-legal-2019-8">Click here for more news about Epstein.&#xa0;</a></li></ul>Jeffrey Epstein's prominent associates ran hedge funds, private equity firms, and even countries. But few Silicon Valley names have been tied to the disgraced financier thus far, despite his apparent effort before his arrest in July to <a href="https://www.businessinsider.com/jeffrey-epstein-interview-tech-reporters-weeks-before-death-2019-8">refashion himself as a tech investor</a>. Last month, 27 venture capital firms <a href="https://www.businessinsider.com/top-silicon-valley-vcs-deny-taking-money-from-jeffrey-epstein-2019-8">told Business Insider</a> that Epstein didn't directly invest with them.&#xa0;Documents reviewed by Business Insider connect one prominent venture capitalist with Epstein, albeit two decades ago. William Elkus, who founded Santa Monica, California-based Clearstone Venture Partners, served as a trustee of one of Epstein's foundations, along with Epstein's brother, Mark.&#xa0;Jeffrey Epstein founded the J. Epstein Foundation in December 1991. Registration documents filed with the state of New York and obtained by Business Insider via a Freedom of Information Law request list Elkus as a trustee at its founding. It's unclear how long Elkus remained a trustee, since the New York attorney general's office, which regulates charities, said it doesn't maintain annual tax filings from the 1990s.Elkus is not listed on the foundation's <a href="https://pdf.guidestar.org/PDF_Images/1999/133/643/1999-133643429-1-F.pdf">earliest online tax filing</a>, which covers 1998-1999, or on subsequent filings. On the earliest tax document, the trustees are the Epstein brothers and former Bear Stearns senior managing director Ira Zicherman. Reached at home, Zicherman and his wife declined to comment. Epstein started his financial career at Bear Stearns.&#xa0;Epstein renamed the J. Epstein Foundation in 2000, calling it Epstein Interests, according to registration documents. Zicherman was also a trustee for Epstein Interests in <a href="https://pdf.guidestar.org/PDF_Images/2001/133/643/2001-133643429-1-F.pdf">2000-2001,</a> but does not appear after that time.&#xa0;See more: <a href="https://www.businessinsider.com/heres-the-latest-jeffrey-epstein-news-from-finances-to-legal-2019-8">Jeffrey Epstein died by apparent suicide in jail. Here's everything we know about the convicted sex offender's past, famous connections, and his court case.</a>Elkus, whose notarized signature is on the J. Epstein Foundation's registration documents, declined to comment for the record in a telephone call.&#xa0;A source with direct knowledge of Elkus' relationship with Epstein told Business Insider that the two men knew each other socially in the late 1980s and early 1990s when they were managing money for wealthy families. The source said they did not do business together.&#xa0;Elkus went on to found Clearstone in 1998, with investments including PayPal, eToys, United Online, and cooking.com. He is a partner and advisor to another VC fund, <a href="https://www.structuralcapital.com/team">Structural Capital</a>, and sits on the <a href="https://annenberg.usc.edu/about/board-of-councilors/william-elkus">board of councilors</a> of the University of Southern California's Annenberg School for Communication and Journalism.&#xa0;Dana Moraly, Clearstone's chief financial officer, told Business Insider that Epstein has never been involved at Clearstone in any capacity, including as an investor or advisor. Moraly said she had not heard of him until she read media reports this year.&#xa0;Some people linked to Epstein in public records have denied ties to the disgraced financier. Boris Nikolic, the biotech venture capitalist, was named last month in Epstein's will as the alternate executor to his $578 million estate. Nikolic told <a href="https://www.bloomberg.com/news/articles/2019-08-19/epstein-s-11th-hour-executor-is-ex-science-adviser-to-bill-gates">Bloomberg</a> he was "shocked" to be included."I was not consulted in these matters and I have no intent to fulfill these duties, whatsoever," he said in a statement.&#xa0;<h3>Foundation's beneficiaries: Miss Virgin Islands and a Harvard research center</h3>Because records for the J. Epstein Foundation are incomplete, Business Insider was unable to assemble a comprehensive account of how much money the foundation donated and where it went.&#xa0;But the following groups have either publicly identified the J. Epstein Foundation as a donor or are listed as recipients in public records:<ul><li>Harvard's Project Zero: Epstein had long been linked to the university, socially and philanthropically. The research center <a href="http://www.pz.harvard.edu/who-we-are/funders">lists</a> the J. Epstein Foundation as a donor, and some of the group's scientists have cited support from the foundation for their work, too. A Harvard spokesman said that Project Zero received more than one gift from J. Epstein and affiliated foundations, but no gifts were received after 2006. All of the funds have been spent.&#xa0;</li><li>Miss Virgin Islands: According to a <a href="https://stcroixsource.com/2006/12/14/miss-virgin-islands-pageant-recruit-contestants/">local report</a>, the foundation sponsored a scholarship for the winner of the beauty pageant in 2007. The winner would "receive the J. Epstein Foundation Scholarship; one-year full tuition, room and board at the [University of the Virgin Islands]; a scholarship and more." Epstein also ran a nonprofit called the J Epstein Virgin Islands Foundation and <a href="https://www.businessinsider.com/jeffrey-epstein-orgy-island-tourist-attraction-photos-2019-8">owned a private island</a>. The Miss Virgin Islands pageant did not respond to a request for comment.</li><li>The Trilateral Commission: Both the J. Epstein Foundation and Epstein Interests <a href="http://trilateral.org/download/doc/london01_full_text1.pdf">gave</a> the policy forum more than $30,000 from 1998 to 2001. Through other foundations, Epstein said he donated $180,000 to the group from 2002 to 2007, according to public records. The group did not respond to a request for comment.&#xa0;</li><li>Mount Carmel Health System: The foundation gave $10,000 in 1992 to the Columbus, Ohio-based health care group's foundation. Les and Abigail Wexner, for whom Epstein managed money for years, were also major benefactors, according to an <a href="https://issuu.com/mountcarmel/docs/mc_annual_report_2013/27">annual report</a>. A spokeswoman for Mount Carmel declined to comment.&#xa0;</li><li>Smithsonian Institution: Between 1996 and 1998, the foundation donated a total of $26,250 for an Italian Renaissance exhibition at the Smithsonian's Cooper Hewitt Design Museum in New York, a spokeswoman said.</li><li>Juilliard School: $10,000 to the prestigious New York music school. Last month, <a href="https://www.thedailybeast.com/jeffrey-epstein-had-his-own-lodge-at-interlochens-prestigious-arts-camp-for-kids-in-michigan">The Daily Beast reported</a> that Epstein contacted the school seeking a student to teach him dance for exercise. One student said he flew her to Palm Beach, where she taught exercise to guests including two Swedish models, including <a href="https://www.businessinsider.com/prominent-hedge-fund-family-had-epstein-for-thanksgiving-after-jail-2019-7">ex-girlfriend Eva Andersson Dubin</a>. The dancer stayed on as his trainer for a few months, and she said he offered to pay for her tuition and equipment for the school. A spokeswoman for the school said the J. Epstein Foundation purchased a table at a 1999 gala for $10,000, but Epstein did not attend the event.</li><li>COMPASS: $25,000 to Aspen Educational Research, later renamed to COMPASS, a group that oversees a pair of charter schools in Aspen, Colorado. Epstein gave to other groups in the Aspen area, where Wexner had a home, including $50,000 to a Jewish congregation in 2008. The educational organization's director did not respond to a request for comment.&#xa0;</li><li>YWCA: $10,000 to the women and social justice-focused group, which did not respond to a request for comment.&#xa0;</li><li>Purdue University: $3,000 to the Midwestern school, which did not respond to a request for comment.&#xa0;</li><li>Alexander Schneider Foundation: $3,000 to the New York-based group named after the famous violinist and conductor, who died in 1993. The main trustee for the foundation did not respond to a request for comment.</li><li>Cleveland Clinic Foundation: $1,000 to the Midwestern medical center. A spokeswoman said the organization is reviewing its records.</li></ul>Epstein ran at least five foundations and gave millions to a variety of organizations over at least 20 years, including arts groups, colleges, medical researchers, and think tanks. Some of those groups have returned the money or are considering doing so in the wake of Epstein's July charges of conspiracy and sex trafficking. On August 10, Epstein died by apparent suicide while being held at Manhattan's Metropolitan Correctional Center.Recently, the <a href="https://www.businessinsider.com/jeffrey-epstein-funded-mit-media-lab-director-joichi-ito-confirms-2019-8?_ga=2.178054501.1768526022.1567541080-1310822946.1556647994">MIT Media Lab has been in turmoil</a> after revelations that its director, Joichi Ito, had received money from Epstein for the research center and for his VC funds since 2013 - well after Epstein went to jail on charges including procuring a minor for prostitution. Ito resigned on Saturday, less than a day after <a href="https://www.newyorker.com/news/news-desk/how-an-elite-university-research-center-concealed-its-relationship-with-jeffrey-epstein">an article in the New Yorker </a>described Epstein's relationship with him and MIT.&#xa0;At least two MIT scholars have publicly quit, citing Epstein's ties to Ito.&#xa0;Do you have a story to share about Epstein? Contact this reporter via encrypted messaging app Signal at +1 (646) 768-1627 using a non-work phone, email at mmorris@businessinsider.com, or Twitter DM at @MeghanEMorris.<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/webinar-headset-ceo-walks-through-successful-series-a-pitch-deck-2019-9">WATCH: The founder of buzzy cannabis-tech startup Headset walked us through the pitch deck that helped him raise $12 million and ink deals with Nielsen and Deloitte</a></h3> <div> </div> </div>

Records tie Silicon Valley venture capitalist who backed PayPal to one of Jeffrey Epstein's foundations

<div class="KonaFilter image-container display-table"><div><div class="image">AP</div></div></div>Secretary of State John Kerry came under fire from Jewish leaders and groups over his reported comments over the weekend warning <a href="http://www.thedailybeast.com/articles/2014/04/27/exclusive-kerry-warns-israel-could-become-an-apartheid-state.html" target="_blank">Israel could become an "apartheid state"</a> if the latest round of peace talks with Palestine fail. 
Kerry's comments came in a closed-door meeting of the Trilateral Commission, before senior officials from the United States, Europe, Russia, and Japan. They broke a longstanding taboo of American officials on using the loaded term to describe Israel - and Kerry is the most senior U.S. official to have ever used it.
Jewish groups and leaders immediately denounced the comment, using a variety of adjectives - "loaded," "inaccurate," disturbing," "inappropriate," and "offensive" were only a few. Though many senior Israeli officials, including Prime Minister Benjamin Netanyahu, were silent on the comments, U.S. House Majority Leader Eric Cantor demanded an apology from Kerry.
AIPAC, the powerhouse pro-Israel lobby, said Kerry's reported remarks were "deeply troubling."
"The reported remarks on apartheid by Secretary of State John Kerry on Friday are deeply troubling," the group said in a statement. "Any suggestion that Israel is, or is at risk of becoming, an apartheid state is offensive and inappropriate. The Jewish state is a shining light for freedom and opportunity in a region plagued by terror, hate and oppression."
Anti-Defamation League National Director Abe Foxman was even sharper in his criticism, saying in a statement he was "startled and disappointed."
"It is startling and deeply disappointing that a diplomat so knowledgeable and experienced about democratic Israel chose to use such an inaccurate and incendiary," Foxman said. "We appreciate Mr. Kerry's deep concern for Israel and his desires to ensure that it have a future of peace and security. Even if he used the repugnant language of Israel's adversaries and accusers to express concern for Israel's future, it was undiplomatic, unwise and unfair. Such references are not seen as expressions of friendship and support."
Other Jewish leaders pointed to comments from then-U.S. Sen. Barack Obama in 2008, when he dismissed the use of the term as inappropriate in discussions about peace between Israel and Palestine. Obama called the term then "emotionally loaded" and "historically inaccurate."
Even supporters of the Obama administration's policies toward Israel found Kerry's comments difficult to defend. 
"Anyone, to even remotely suggest that Israel could be an apartheid state is simply reckless, irresponsible, and has no basis in reality - no basis whatsoever in reality," said Ezra Friedlander, president of the Friedlander Group, which has been <a href="http://www.thefriedlandergroup.com/ezra-friedlander-obama-is-good-for-the-jews-.13-1-86-.html" target="_blank">supportive</a> of the administration. 
He reiterated he thinks the Obama administration is "pro-Israel," but he said he thinks Kerry's status of being "emotionally and personally invested" in the peace talks may have spurred him to use such language. 
State Department spokeswoman Jen Psaki attempted to defuse some of the tension on Monday. Psaki emphasized Kerry was discussing a hypothetical future rather than assessing the current state of the country, but she didn't deny Kerry used the term. 
"The secretary does not believe and did not state publicly or privately that Israel is an apartheid state, and there's an important difference there," she told reporters. 
She said the intended meaning of "any comment he makes" reflects his support for a two-state solution, which he believes is essential for Israel to continue to function as a Democratic state.
"A two-state solution is the only way to have two nations, and two peoples, living side-by-side in peace and security," Psaki said.

John Kerry Is Getting Slammed For Using The 'A-Word' With Israel

<div class="KonaFilter image-container display-table"><div><div class="image">AP</div></div></div>U.S. Secretary of State John Kerry released a statement in "support for Israel" Monday night, after a day of high-profile controversy surrounding his weekend <a href="http://www.businessinsider.com/john-kerry-israel-apartheid-palestine-peace-process-2014-4" target="_blank">warning that Israel may become an "apartheid state"</a> if Israeli-Palestinian peace talks fall through.
"I have been around long enough to also know the power of words to create a misimpression, even when unintentional, and if I could rewind the tape, I would have chosen a different word to describe my firm belief that the only way in the long term to have a Jewish state and two nations and two peoples living side by side in peace and security is through a two state solution," Kerry said in the statement.
Kerry's original comment, made at a closed-door meeting of the Trilateral Commission last Friday, spawned a wave of denouncement Monday from various U.S. politicians, along with Jewish leaders and groups. Republican House Majority Leader Eric Cantor called on Kerry to apologize, and Sen. Ted Cruz, the freshman Republican from Texas, said Kerry should resign. 
His "apartheid" comment broke a longstanding taboo of American officials on using the loaded term to describe Israel - then-Sen. Barack Obama denounced using the term in a 2008 interview. Kerry is believed to be the most-senior U.S. official to have ever used it.
AIPAC, the powerhouse pro-Israel lobby, said Kerry's reported remarks were "deeply troubling," "offensive," and "inappropriate." The Anti-Defamation League said it was "startling" and "disappointing."
Though apologetic, Kerry was also defiant in the statement, defending his record on Israel and repeating he won't "allow his commitment to Israel be questioned by anyone."
Here's Kerry's full statement: For more than thirty years in the United States Senate, I didn't just speak words in support of Israel, I walked the walk when it came time to vote and when it came time to fight. As Secretary of State, I have spent countless hours working with Prime Minister Netanyahu and Justice Minister Livni because I believe in the kind of future that Israel not only wants, but Israel deserves. I want to see a two state solution that results in a secure Jewish state and a prosperous Palestinian state, and I've actually worked for it.
I will not allow my commitment to Israel to be questioned by anyone, particularly for partisan, political purposes, so I want to be crystal clear about what I believe and what I don't believe. First, Israel is a vibrant democracy and I do not believe, nor have I ever stated, publicly or privately, that Israel is an apartheid state or that it intends to become one. Anyone who knows anything about me knows that without a shred of doubt. Second, I have been around long enough to also know the power of words to create a misimpression, even when unintentional, and if I could rewind the tape, I would have chosen a different word to describe my firm belief that the only way in the long term to have a Jewish state and two nations and two peoples living side by side in peace and security is through a two state solution. In the long term, a unitary, binational state cannot be the democratic Jewish state that Israel deserves or the prosperous state with full rights that the Palestinian people deserve. That's what I said, and it's also what Prime Minister Netanyahu has said. While Justice Minister Livni, former Prime Ministers Barak and Ohlmert have all invoked the specter of apartheid to underscore the dangers of a unitary state for the future, it is a word best left out of the debate here at home.

JOHN KERRY: 'If I Could Rewind The Tape, I Would've Chosen A Different Word'

<div class="image-container float_right" style="width:401px"><div class="image"></div>APChristian Gerhartsreiter in court in 2008.</div>A 52-year-old German immigrant by the name of Christian Gerhartsreiter is on trial this month in Los Angeles for the 1985 <keyword id="13542" type="ENTERTAINMENT" weightage="60" keywordseo="Murder">murder</keyword> of California man John Sohus.
While Gerhartsreiter is little known, many have heard of his alter-ego, Clark Rockefeller. Rockefeller was the subject of Lifetime movie, "Who is Clark Rockefeller?" and a <a href="http://www.vanityfair.com/magazine/2009/01/fake_rockefeller200901">fantastic 2009 Vanity Fair profile</a>.
His case may be the most unbelievable case of <keyword id="38935" type="PERSON" weightage="60" keywordseo="Fraud">fraud</keyword> in modern America. Now, if Gerhartsreiter is found guilty in Los Angeles, it may include a grisly double murder too.
<h3>"Clark Rockefeller"</h3>
In the 1990s, Gerhartsreiter, who is believed to have snuck into the country as a teenager, managed to convince many of New England's elite that he was the moneyed son of George Rockefeller and Mary Roberts.
He was so convincing that he managed to marry Sandra Boss, a high-earning Mckinsey executive with degrees from Stanford and Harvard Business School. The couple had a child together, living entirely off of Boss' salary, <a href="http://www.boston.com/news/local/massachusetts/articles/2009/06/12/rockefeller_verdict/?page=2">said to be in the range of $2 million a year</a>.
The couple eventually separated; Boss became suspicious of her husband's identity (she hired a private detective who confirmed he wasn't a Rockefeller) and his behavior was increasingly bizarre.
Gerhartsreiter responded by putting his $800,000 divorce settlement in gold coins and abducting their daughter. After an international manhunt, he was caught and sentenced to jail in 2009 for the kidnapping and assault and battery, with the jury <a href="http://www.boston.com/news/local/massachusetts/articles/2009/06/12/rockefeller_verdict/?page=1">rejecting the defense of insanity</a>.
The court case revealed some other tall tales by Gerhartsreiter, according to the Boston Globe, including "his work with the international Trilateral Commission; the blame he bore for the collapse of the Asian financial markets; and that he ended seven mute years as a child with the word 'woofness.'"
ABC News had <a href="http://abcnews.go.com/News/story?id=7672617&amp;page=2#.UVcxk6sjprc">more details from an FBI profile</a>, noting that Gerhartsreiter "does not use metal utensils, will not eat bread unless it is white Pepperidge Farm with the crusts cut off, and that he met Sandra Boss at a Clue party where she was dressed as Scarlett O'Hara and he was Colonel Mustard. The two fell for one another while speaking Klingon, the language spoken by some on the TV series 'Star Trek.""
After that trial's publicity, Gerhartsreiter was traced back to Germany, where his birth parents said they had not seen him since 1978. Gerhartsreiter refused to accept this, instead claiming former actress Ann Carter had raised him (<a href="http://www.wcvb.com/-Rockefeller-Is-Not-My-Son-Actress-Says/-/9849586/11327524/-/k83fx0/-/index.html">a claim she later denied</a>).
<h3>The Murder Twist</h3>
The new trial in Los Angeles began earlier this month and relates to another time in Gerhartsreiter's life and another identity — Christopher Chichester.
John Sohus and his wife disappeared in 1985 in San Marino. Sohus' alcoholic mother told friends that the pair had gone on a top secret mission for the government. Nine years later human remains were found under the Sohus' home — the remains appeared to belong to John Sohus, and he appeared to have been bludgeoned to death, hacked to pieces, and put into plastic bags. His wife's remains have not been discovered.
For decades the case was unsolved, but as more details come out about Gerhartsreiter's past, he has emerged as a clear suspect.
A "Christopher Chichester" was known to have rented a guest house from Sohus' mother at the time. The same man later tried to sell witnesses an <a href="http://articles.latimes.com/2012/jan/25/local/la-me-rockefeller-20120125">Oriental rug that appeared to have a bloody stain on it</a>, according to the Los Angeles Times, and had the victim's truck after his death.
One piece of Sohus' body was found in a plastic bag stamped with the University of Wisconsin-Milwaukee. Gerhartsreiter studied at the university during the time that that logo was in use.
This week the court heard testimony from a girlfriend who lived in New York with Gerhartsreiter during the late 1980s that he acted bizarre <a href="http://articles.latimes.com/2013/mar/27/local/la-me-fake-rockefeller-20130328">when a police officer attempted to contact him about the murder</a>. Gerhartsreiter — then living as Christopher Crowe — apparently dyed his hair black and his eyebrows blonde.
Gerhartsreiter's ex-wife, Boss, is expected to testify in the case, which <a href="http://www.pasadenastarnews.com/news/ci_22862105/how-much-dirty-laundry-wil-be-aired-accused">may well bring out more details</a>.
Gerhartsreiter may never testify in the trial himself — defense lawyers are refusing to say if he will or not, <a href="http://bostonherald.com/news_opinion/local_coverage/2013/03/tv_interview_played_in_clark_rockefeller_impostor_trial">according to</a> the Boston Herald — so jurors were shown <a href="http://www.today.com/id/26351121/ns/today-today_news/t/clark-rockefeller-my-ex-never-believed-my-story/#.UVcpnqsjprc">an </a><a href="http://www.today.com/id/26351121/ns/today-today_news/t/clark-rockefeller-my-ex-never-believed-my-story/#.UVcpnqsjprc">August 2008 interview of Christian Gerhartsreiter on</a> NBC's "Today", <a href="http://bostonherald.com/news_opinion/local_coverage/2013/03/tv_interview_played_in_clark_rockefeller_impostor_trial">wherein he offers an oblique denial</a>.
The denial comes around 11 minutes into the video below, but the entire interview is fascinating to watch — for example, the moment where Gerhartsreiter puts on a Scottish accent and recites Robert Burns.

<h3>Will He Be Convicted?</h3>
One big problem with the murder case is that events took place so long ago, at least two witnesses have <a href="http://articles.latimes.com/2012/jan/25/local/la-me-rockefeller-20120125">failed to recognize Gerhartsreiter in court</a>, the Los Angeles Times reports, and a lot of the evidence in the case is circumstantial at best.
Gerhartsreiter's defense rests upon pointing the blame towards John Sohus' wife Linda, arguing that she was more physically capable of killing her husband in such a violent manner (at 6 feet tall, Linda was almost a foot taller than Gerhartsreiter).
While nearly everyone agrees that Gerhartsreiter is an unusual guy, convicting him of murder may be a much harder task.

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