President Trump really dislikes the 2015 Clean Water Rule. Barely a month after taking office he directed the Environmental Protection Agency to take steps towards killing it. The “horrible, horrible” rule, he said, was a “massive power grab” that burdens farmers and developers with restrictions on “every puddle” and “every ditch.” In fact, the rule simply clarifies the scope of ...

As far as ideas go, the notion that Beijing has bargaining power over Washington by virtue of being America’s largest creditor is an old chestnut. However, the current US-China trade conflict has revived interest in the drop in Chinese holdings of US Treasuries to their lowest level in a year and a half. The fifth straight decline took the stock ...

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 ...