The big lesson for emerging markets from the taper crisis of 2013 was this: Don’t go into a US tightening cycle without your exporters bringing home truckloads of dollars. That’s why the most recent trade figures from India are both important and encouraging. Clubbed together with Indonesia, Turkey, Russia and South Africa on Morgan Stanley’s “Fragile Five” list four summers ...

As part of its plan to complete the euro zone’s so-called banking union, the European Commission has presented a new proposal for collectively insuring bank deposits. Such a scheme is badly needed — but the new idea falls short. By leaving too much risk with national governments, it fails to address a critical weakness of the system. The commission is ...

President Donald Trump has been attacking trade for months, but believers in the value of international competition have drawn comfort from his reputation for empty talk and record of non-accomplishment. That record, along with a trade pact that has served the US economy well for decades, may be about to end. Talks on revising the North American Free Trade Agreement ...