Opinion

  US Defense Secretary James Mattis said diplomatic efforts should be exhausted to find a solution of South China Sea dispute. Mattis’ stand is in contrast to Secretary of State Rex Tillerson, who appeared to advocate a tougher action to resolve maritime issue. Last month, Tillerson said the US should send a clear signal that further island-building should stop, and …

  The great macroeconomist Robert Lucas once uttered a memorable quote about the mystery of economic development: Is there some action a government of India could take that would lead the Indian economy to grow [more rapidly]. If so, what, exactly?…The consequences for human welfare involved in questions like these are simply staggering: Once one starts to think about them, …

  Earlier this week, I commended Snapchat for bucking Silicon Valley convention and going public at a relatively young age, while other high-profile startups such as Uber do everything possible to avoid IPOs. After seeing parent company Snap Inc.’s financials and its strategy, I have changed my mind. Snapchat would have been better off staying in the lush forest of …

  Jean-Claude Trichet, the European Central Bank’s former president, used to argue that one of the euro’s greatest achievements was driving government borrowing costs down to match those of Germany, the region’s benchmark borrower. In recent weeks, however, fissures have emerged that reflect investor concern about the political and economic outlook for at least three of the common currency’s members. …

  “Mexico braces for a trade war with Washington,” headline in the Financial Times, Jan. 31, 2017. Let’s hope not, because a trade war triggered by President Trump would be an act of pure economic aggression, unjustified either by the United States’ economic and political interests or by Mexico’s behaviour. It would be the economic equivalent of Russia’s seizure of …

  Most Indians are getting a tax break, thanks to Prime Minister Narendra Modi’s botched demonetisation program. A halving of the tax bill for the lower middle class and a 5 percentage point rebate for most companies should go some way to help steady consumption and employment, both of which were hurt by the 8 November ban on high-denomination cash. …

  Iran’s recent test of a medium-range ballistic missile is an early indicator that it doesn’t fear the bellicose rhetoric of Donald Trump any more than it did the passive approach of Barack Obama. Unfortunately, the Trump administration’s immediate response — National Security Adviser Michael Flynn said the US is “officially putting Iran on notice” — seems straight out of …

  US President Donald Trump slapped sanctions against Iran in retaliation to Tehran’s recent ballistic missile test. More than two dozen people and companies from the Persian Gulf to China face new restrictions for supporting the missile program and providing support for Iran’s hard-line Revolutionary Guards Corps. They are now prohibited doing any business in the United States or with …

  Like many a divorce, the UK’s separation from Europe threatens to get bogged down over money. While the UK wants to focus straight away on building a post-European Union identity, for the EU the first order of business will be the 60 billion euros the bloc says Britain owes it. Prime Minister Theresa May plans to formally trigger Brexit …

  We may need to brace for the demise of America’s largest department-store chain. Hudson’s Bay Co., the Canadian owner of Lord & Taylor and Saks Fifth Avenue, is in talks to take over Macy’s, according to a report from The Wall Street Journal on Friday. It would be a spectacular end to a years-long struggle for what was once …