Central banks have scarcely covered themselves in glory these past few years. Most have one goal and one goal only: to keep inflation low. In most countries, they have spectacularly failed at this job. In much of the developed world, inflation has reached many multi-year highs. I can’t think of a central bank whose record has been as lamentable as ...

Tourists are coming back to Japan — but while in the past they were driving Mario Karts down the main streets of Tokyo, now they’re being asked to sit in groups distanced from locals at restaurants, and keep masks on while eating. For those eager to get back into Japan, the country’s first step towards reopening to tourists in the ...

  China suffered a rare diplomatic setback when 10 Pacific Island nations deflected its offer of a sweeping trade and security deal. However, the rebuff won’t end China’s efforts to exert influence over these tiny and far-flung countries. The US needs to respond with equal resolve — or risk losing ground in a strategically vital region. Though lightly populated, the ...