For all the talk of China’s mountain of debt, defaults and deleveraging, there’s a chasm nobody is talking about. Here’s an alarming and frequently cited statistic: Chinese industrial companies have at least $124 billion of debt maturing over the next two years. Actually, it’s worse. They have another $34 billion of bonds with put options – giving creditors the right ...

Never before has a US president worked so hard to isolate his country from its friends. The G-7 summit of advanced economies that started on Friday in Quebec sees Canada, France, Germany, Italy, Japan and the UK united in opposition to Donald Trump’s protectionist trade policy. The problem goes deeper than a first round of tariffs and counter-tariffs, because Trump’s ...

While the turmoil in Italy has died down, at least for now, the issue that set it off is sure to provoke more tumult ahead. The populist coalition that won the last election had proposed to make Paolo Savona, an economist who has said Italy should have a “Plan B” to exit the euro, finance minister. Sergio Mattarella, the country’s ...