US President Donald Trump has warned that discussions with his Chinese counterpart Xi Jinping in Florida this week will be “very difficult”, in large part because of disagreements over trade. But before Trump can shrink America’s lopsided trade deficits—with China or anyone else—he must first recognize what’s driving them. Unlike in the past, most deficits today have little to ...

  Iceland has provided a fascinating case study for economists. Now that it has impressively battled to restore economic and financial well-being, Finance Minister Benedikt Johannesson appears to be toying with a new experiment for the krona, the country’s currency. His thinking is being driven by the recent volatility of the exchange rate. But it also is informed by a ...

  Last week, Apple launched RED, a special-edition iPhone. An undisclosed portion of sales of the phone will support The Global Fund to Fight AIDS. But the product is strangely missing from the Chinese version of Apple’s website, which promotes a red phone but has no mention of the disease. Apple didn’t respond to my question about why that’s the ...