We Americans have long been obsessed with economic growth — “pros- perity” in everyday lingo. The idea that we have some sort of special aptitude for invention, wealth creation and economic self-improvement is part of our imagined national character. It’s who we are. Not only that, but prosperity plays a crucial political role. It enables us to raise living standards ...

The escalating trade war is forcing automakers to rethink how they do business. BMW AG has just put its chips on the table in China. The German company could become the first foreign carmaker to own a majority stake in a Chinese joint venture as it mulls a new ownership structure for its arrangement with Brilliance China Automotive Holdings Ltd., ...

If something cannot go on forever, well then, it will eventually stop. So said economist Herbert Stein when he made this obvious but insightful observation. Trees do not grow to the sky, and matters that are truly unsustainable eventually come to an end. The most recent example of something that can’t go on forever has been the inflows into low-cost, ...