Bloomberg On the waterfront of New Zealand’s largest city, a Chinese developer is building a five-star luxury hotel aimed at wealthy tourists. One hitch: there’s not enough local workers to finish it. To help complete Auckland’s NZ$200 million ($138 million) Park Hyatt hotel on time, Beijing-based Fu Wah International Group has been forced to fly out 138 carpet layers, painters ...

President Trump’s education in global trade continues. Not long ago, he declared that trade wars ‘are good and easy to win.’ He knows better now. The administration’s performance in its latest trade talks with China has been ineffectual, instructive and (yes) humiliating. Let’s be clear. China is the one major country where an aggressive American trade policy is warranted — ...

You may have reasonable expectations of what you can expect from your investments during the coming years and decades. But regardless of what your risk-adjusted return expectations are, the first rule of economics cannot be denied: There is no free lunch. I was reminded of this by a report that the League of California Cities wanted the state’s big public ...