Voters in France’s presidential election are being asked to choose between supply-side economic reform, as offered by candidates like centrist Emmanuel Macron and center-right François Fillon, and demand-side reform, as promoted by the National Front’s Marine Le Pen and Jean-Luc Melenchon. The reality is that France needs both at the same time — one without the other won’t work. ...

  India’s most valuable business is earning money hand over fist from oil. Yet what’s exciting investors about Reliance Industries Ltd. are its telecoms losses. Those should go some way toward creating the Indian equivalent of Verizon Communications Inc., the largest U.S. wireless carrier. Or at least that’s what the stock’s 38 percent jump this year in dollar terms is ...

  The global economy is gathering momentum, the International Monetary Fund has declared. That’s probably correct and undeniably encouraging, but there’s an ominous discord between this economic expansion and what’s euphemistically called “political uncertainty” — that is, the stresses caused by surging anti-trade, anti-market, anti-immigrant populism. This “uncertainty” could be the prelude to some seriously bad policies, enough to derail ...