Discussions about manufacturing tend to get very contentious. Many economists and commentators believe that there’s nothing inherently special about making things and that efforts to restore US manufacturing to its former glory reek of industrial policy, protectionism, mercantilism and antiquated thinking. But in their eagerness to guard against the return of these ideas, manufacturing’s detractors often overstate their case. …

  With a promise to fly US passengers to Europe for as little as $65, Norwegian Air Shuttle ASA is poised to transform transatlantic travel. While terrific news for consumers, its low-cost long-haul strategy might be a little more turbulent for shareholders and lenders. Having built Norwegian from a handful of aircraft into Europe’s third-largest budget carrier, founder and CEO …

  China appears to be thriving in the age of Trump. Faced with a protectionist U.S. administration in Washington, Communist Party leaders have improbably recast themselves as champions of globalization, free trade and openness. Recently, they’ve admonished Western policymakers to treat Chinese investors more graciously before expecting China to open its own markets further. Greater liberalization, central bank chief Zhou …