The best way to describe China’s economic quandary is also the simplest: It can strive for maximum growth now or later — but not both. China’s government is well aware that promoting the growth of the world’s largest economy in the long term involves structural changes that will slow the economy in the short term. And its success in ...

  Venezuela’s crushing economic and political crisis is spiralling out of control. Widespread food and medicine crunch, 700% inflation, abysmal recession, corruption and crime have put the country on the edge of a virtual collapse. The recall vote to unseat President Nicolas Maduro is also facing bureaucratic bottlenecks. The ruling party has been accused of creating a climate of intimidation ...

  When Bill Clinton signed welfare reform into law, the outrage from the left was incandescent. Peter Edelman, a prominent official in Health and Human Services, resigned in protest and wrote an article for the Atlantic calling it “The Worst Thing Bill Clinton Has Done” and declaring that “it will hurt millions of poor children by the time it is ...

  The Department of Justice announced last week that it would end its reliance on for-profit prisons run by companies such as Corrections Corporation of America and Geo Group. The decision followed an internal study, which found that private prisons tended to be less safe and poorly administered, and provided limited long-term savings for the federal government. Shares of CCA ...

  Bloomberg Saudi Arabian stocks led gains across Gulf equities as an advance in the price of oil helped offset investor caution over the timing of U.S. interest-rate increases. Saudi Arabia’s Tadawul All Share Index rose 1.6 percent, its first increase in six days and biggest climb since April 25. Qatar’s QE Index added 0.6 percent. The Bloomberg GCC 200 ...

  Bloomberg Caution rippled through emerging markets on Friday as traders weighed the impact on risk assets from comments by Federal Reserve policy makers about the timing of an interest-rate increase in the U.S. Assets from developing-nation currencies to global stocks gyrated after Fed Chair Janet Yellen spoke to central bankers and economists in Jackson Hole, Wyoming. While she didn’t ...

  Bloomberg India expects to woo 1 trillion rupees ($15 billion) of investment over five years to double mining output and cut mineral imports. The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal said in an interview. The administration will invite foreign companies to participate, he said, ...

  Bloomberg China Petroleum & Chemical Corp., the world’s biggest oil refiner, posted a 22 percent decline in profit for the first half of the year as oil’s collapse overpowered the boost from cheaper crude used to make fuels and chemicals. Net income dropped to 19.9 billion yuan ($3 billion), the Beijing-based company known as Sinopec said in a statement ...

  Bloomberg Signs of life returning to Asian trade have stirred up some optimism of a recovery, but a closer look at the data coming out of the region indicates the malaise is far from over. While export figures from Malaysia and Thailand showed surprising strength in June, trade continues to contract across most of Asia in the face of ...

  Bloomberg There are at least three good reasons why China is likely to succeed in starting the world’s biggest carbon-trading market when its efforts to limit pollution kick in next year. The government wants to put a cost on emissions of toxic smog to control pollution in industrial cities, starting with Beijing. The market may trade as much as ...