Might this be China’s new Venezuela? Beijing’s frenzied drive to create a modern Silk Road puts Pakistan front and center, much as Venezuela was once a target of lending by China Development Bank as the nation sought to secure oil supplies. Of the $6 billion to $7 billion of current development projects in Pakistan as part of the China-Pakistan Economic …

Almost daily, newspapers in the US, Europe and China release eye-catching headlines about China’s technological advances and economic prowess. The accomplishments are real. But they’re not necessarily evidence of Western failure or Chinese invincibility. In touting such achievements, commentators too often overlook the structural factors that have shaped them. Economists now recognize just how much of economic interaction is driven …

“Why did the market go up today?” “There must have been more buyers than sellers.” That piece of circular logic is a sort of laconic joke among traders, equivalent to saying: “I have no idea.” Naturally, prices will only rise if the enthusiasm of buyers outweighs the fear of sellers. At the same time, it captures a worthwhile nugget of …