Leaders from Washington to Brussels are increasingly troubled by the flood of Chinese money seeking acquisitions abroad, and asking themselves how best to respond. The answer is: more carefully. The US has a federal panel, created more than four decades ago, that scrutinizes foreign investments for national-security implications, but it isn’t adequate to the task. The European Union’s current arrangements …

The Federal Reserve is about to take another small step toward getting US monetary policy back to normal. The only catch is that, as with politics and the economy, no one really knows what “normal” means anymore. So far, investors have viewed this unusual situation calmly, and the Fed is hoping this doesn’t change. But calm can become complacency—and that’s …

When members of the White House staff find themselves under criminal investigation, they should be allowed to raise money for their legal defense. They should not be allowed, as a newly revised policy from the Office of Government Ethics permits, to accept contributions from anonymous donors. The cost of public service is sometimes unreasonable, occasionally outrageous, and extracted from members …