Perhaps no other piece of economics jargon has caused as much confusion as the term “strong dollar.” The phrase suggests patriotic strength, of the USA riding roughshod over its economic rivals. In reality, dollar strength just means purchasing power — a stronger dollar lets US residents and businesses buy more things from overseas, while a weaker dollar helps them …

  Vodafone CEO Vittorio Colao has negotiated a partial retreat from a tough situation in India on reasonable terms. Given a bloody price war brought on by a new rival, the deal to join forces with Idea Cellular Ltd is smart even though Colao has ceded control without getting a premium. Vodafone Group Plc and Idea said on Monday that …

  Presumably at the insistence of the U.S. administration, the latest statement from the Group of 20 big economies conspicuously dropped the standard promise to “avoid all forms of protectionism.” It’s worth pausing to understand why that promise was ever worth making, and honoring. The reason is surely not that governments always keep their word. For years they’ve been backsliding …