Over the past decade, a lot of capital has flowed into emerging markets thanks in part to excessive liquidity in advanced economies. This money has often found its way into risky or suspect investment structures. Should a crisis strike — say, contagion from Turkey — investors in these markets will be exposed to risks that they simply aren’t prepared for. ...

With the latest round of trade talks between the US and China ending in a predictable stalemate, one thing has become clear: The Trump administration’s approach to these negotiations has made it all but impossible for Chinese President Xi Jinping to make a deal. Until that changes, there’s no end in sight for the tariff-for-tariff tussle between the two countries, ...

The natural state of a capitalist economy is expansion. Recessions occur when “something breaks” rather than an expansion simply dying of old age. Unfortunately, central banks have a history of pumping the brakes for too long and too hard when attempting to contain growth and inflation and are often the cause of a recession. Given that the Federal Reserve has ...