Sunday was the day for festivities and pride in Panama as people there marked the inauguration of newly expanded multibillion dollar Panama Canal that will link the Atlantic and the Pacific Oceans and boost the regional and international trade. Currently, some 5 percent of global maritime commercial traffic uses this strategic waterway, which provides a valuable shortcut between North …

  Mohamed A. El-Erian As global financial markets convulse in response to British citizens voting to leave the European Union, the stunning outcome of the U.K.’s referendum provides more questions than answers. As discussed on Monday, the heightened uncertainty, fueled by sudden institutional instability now compounding long-standing economic fragility and financial fluidity, is likely to cause an unprecedented mix of …

The United Kingdom’s exit from the European Union is creating a lot of losers: London’s finance industry. British Prime Minister David Cameron. The pound. The grand cause of European integration. But out of all of the market turmoil and uncertainty will emerge at least one big winner: China. In the short term, of course, China’s struggling economy may take a …