It’s an idea that won’t lie down. US-led sanctions against Russia and the threat that they could ensnare China will prompt Beijing to elevate the international role of the yuan, potentially marking a turning point for the global financial order. Dream on. The structural impediments to the Chinese currency challenging the dollar’s dominance are so great that it’s surprising ...

  We want our governments to be creative in solving intractable problems. But the new British policy of sending asylum seekers 4,000 miles away to Rwanda doesn’t count as the “innovative” answer to people-smuggling that Prime Minister Boris Johnson and Home Secretary Priti Patel claim. Patel has faced constant criticism over her failure to tackle the problem of migrants crossing ...

  Bloomberg Cathay Pacific Airways Ltd will alter monthly allowances and other perks for pilots as it tries to stem a wave of resignations among crew frustrated by the impact of Hong Kong’s Covid-19 policies on their lives. The changes depend on pilot ranking and come on top of base salaries and hourly flying rates. From next year, the most ...