Opinion

President Donald Trump’s first appearances at the NATO and Group of Seven summits were a disservice to the US and the world. He betrayed no interest in maintaining America’s standing as the pre-eminent global leader, much less any aptitude for that task. The president is rattling the Western alliance in a way that can only delight its adversaries — Russia ...

Italy’s main political parties are edging closer to agreement on a new electoral law, which could pave the way for an early election in the autumn. In theory, this ought to be good news: Italy faces formidable economic challenges; a newly-elected government would have a fresh mandate to deal with them. In practice, however, a snap election is an unnecessary ...

For the first time ever, China is facing a dreaded prospect: the inverted bond yield curve. The phenomenon, in which long-term interest rates sink below short-term interest rates, has caused some consternation among market-watchers, who know it’s traditionally a harbinger of recession. The inversion suggests markets expect interest rates to fall eventually as monetary authorities move to stimulate economic activity. ...

Amazon helped kill bookstore chains, and now it’s becoming one. The company has been opening physical bookstores in cities like Seattle, San Diego and Chicago since 2015. Last week, it opened its seventh bookstore in an upscale mall in New York City. In an ironic twist, Amazon’s store is one floor up from a former Borders store, the bookstore outlet ...

Bitcoin has been on an unbelievable run. The cryptocurrency is up around 124 percent for 2017. And that’s after it gained 125 percent in 2016. In May alone, it’s up more than 60 percent. It’s hard to know what the long-term impact or performance will be, but one thing’s for sure — investors are swept up in cryptocurrency mania. One ...

‘Back channels’ have been used by every modern president, from John F. Kennedy to Barack Obama. If that’s so, what’s the problem with the pre-inauguration contacts between White House adviser Jared Kushner and two Russian intermediaries? It’s a fair question. But that doesn’t mean that the right answer is a reflexive approval of Kushner’s contacts, as offered by Homeland Security ...

Balance-sheet turbulence at large Indian companies is nothing new. The $180 billion of stressed assets in the banking system are mainly due to about 60 big corporate accounts. Yet two things make this week’s meltdown in the shares and debentures of Reliance Communications Ltd an unusual cautionary tale. Banks and bondholders are sitting on a combined $7 billion exposure to ...

UK Prime Minister Theresa May’s election campaign has run into a spot of bother. Less than a month ago the Tories were leading Labour by more than 20 percentage points and heading, it seemed, for a landslide victory on June 8. One recent poll has cut that lead to just five points. The setback is May’s fault — and, oddly ...

If Donald Trump and Barack Obama agree on something, does that mean it’s true? In the case of Europe’s woeful support of its collective defense, yes: Member states need to contribute their “fair share” toward the North Atlantic Treaty Organization, a phrase both men used in speeches in European capitals. The question is what “fair share” means. Instead of measuring ...

Economists, to put it mildly, are not known for their communication skills. The typical economics paper is written in a formal, stilted style, laden with phrases like ‘in the following subsection’ and ‘it has been shown that.’ Jargon flies thick and fast, interspersed with highly formalized mathematical definitions and propositions. For a non-economist to hack through the verbal jungle of ...