In Asia, Western banks need to understand that small is beautiful. They need to be more nimble and focused, and accept that some things are best left to the locals. They should also focus on what pays: The multinational clients that were once their top customers and the private-equity firms that provide recurring fees are a lot more loyal …

  Is there a way to measure a country’s overall success? Gross domestic product indicates how well the economy is working. Labor-force participation rates and median wages say something about how workers are faring. Newer measures of happiness, pride and other intangibles may fill in some soft details. There is one metric, however, that speaks volumes about how well any …

  Prime Minister Narendra Modi’s unprecedented cash clampdown was initially hailed as a surgical strike against black money menace. But now it seems to be an ill-conceived economic harakiri. One month after Modi government banned the two largest bank notes, people are still struggling to get their hands on the new currency. India is largely a cash –based economy. The …