Nobody can know if, when Deng Xiaoping launched his strategy of “Reform and Opening Up” 40 years ago, even he could have predicted the near-miraculous transformation of the Chinese economy that would follow. In the years since then, hundreds of millions have been lifted out of abject poverty and into the ranks of the global middle class; China’s industrial heartland ...

Narendra Modi, the Indian prime minister, took two big blows in less than 24 hours. Investors should worry less about the bruises, and more about what he might do to recover from them before next year’s general elections. The first knock came when besieged Reserve Bank of India (RBI)  governor Urjit Patel abruptly resigned. Although he cited personal reasons, nobody ...

Traders and investors will be glad to see the back of 2018. It’s been the worst rout since 1901, by Deutsche Bank AG’s reckoning, with almost every asset class delivering losses. The figures illustrate the backdrop to what went wrong this year – and hint at what could go better in 2019. $14,889,930,106,680 That’s how much the total value of ...