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As we note in our recently released Regional Economic Outlook, the Asia-Pacific region remains the main engine of the global economy, and near-term prospects have improved since our report of October 2017. But there are many risks on the horizon, including a tightening of global financial conditions, a shift toward protectionist policies, and an increase in geopolitical tensions. In addition, over the longer run, Asian economies will face major challenges from population aging and slowing productivity growth, as well as the rise of the digital economy, which could yield huge benefits but also bring major disruptions.

As the largest country in South America, Brazil is rich in natural resources, which is conducive to helping new energy businesses develop. The country has rolled out a policy that has increased the proportion of compulsory biodiesel it uses to 10 percent, spurring a boom in the local biodiesel market.

As with previous attacks, India has denied any involvement.

As regular readers of this letter will know, our energy at Amazon comes from the desire to impress customers rather than the zeal to best competitors. We don’t take a view on which of these approaches is more likely to maximize business success. There are pros and cons to both and many examples of highly successful competitor-focused companies. We do work to pay attention to competitors and be inspired by them, but it is a fact that the customer-centric way is at this point a defining element of our culture.

As two of the world’s most valuable companies, Amazon and Microsoft have created mind-boggling wealth and economic vitality in the Seattle region. But around them, housing prices have skyrocketed and the number of people experiencing homelessness has spiked as the rising tide of the tech industry fails to lift all boats.