The North Korean nuclear threat is a “hinge” moment for the US and China, and for the new international order both nations say they want. If Washington and Beijing manage to stay together in dealing with Pyongyang, the door opens on a new era in which China will play a larger and more responsible role in global affairs, commensurate with …

President Donald Trump endorsed a plan to change the way the US immigration system operates. Half of the plan is very good. The other half is bad and counterproductive. The plan, known as the Reforming American Immigration for Strong Employment (RAISE) Act, was developed by Republican senators Tom Cotton of Arkansas and David Perdue of Georgia. It would do two …

It’s customary for companies reporting a horror-show result to blame the general trading environment, rather than anything within control of management. Commodities trader Noble Group Ltd. is no exception. In declaring that it had been holed below the waterline with a $1.9 billion net loss over the June quarter, the company declared the problem was not with the crew, but …