Last year, a few influential voices urged the Federal Reserve not to raise interest rates out of concern that it would slow global growth and fuel financial disruptions. Fed officials listened politely, then hiked rates in December and subsequently paused. Given recent developments in the foreign-exchange markets, some of these voices may now be wondering if the Fed should …

  Recently, Australian Prime Minister Malcolm Turnbull announced that France had secured a $50 billion contract to build Australia’s new submarine fleet, confirming weeks of speculation that Japan had lost out in the three-way competitive evaluation. While the outcome is definitely a missed strategic opportunity to enhance Australia-Japan defense ties, an overemphasis on it also risks missing the broader story …

  The inauguration of Tsai Ing-wen as president of Taiwan offers a unique opportunity for Washington to address two fraught issues in U.S.-China relations. First, sending an appropriate high-level American official to Taipei would signal U.S. commitment to the democratic security of Taiwan in the face of Beijing’s intensifying pressure. Second, it would elevate Taiwan’s status as a regional security …