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Ever since Donald Trump’s election, a cottage industry of politicians, journalists, scholars and commentators has sought to understand what motivates Trump supporters. Theories have ranged from globalization to a rebellion against Washington elitism to racism. But the true cause may have been overlooked: the “postindustrial society.” It has imposed on the economy a wage structure that systematically generates inequality between ...

Fifty-six years. That’s how long it would take if the one dozen companies the Indian central bank is pushing into bankruptcy were to repay creditors by handing over their entire current operating income. For India’s capital-starved commercial lenders, at the receiving end of much of this $37 billion of unpaid debt, waiting for even 56 days without a resolution isn’t ...

With its 98-2 vote to expand sanctions against Russia, the U.S. Senate has effectively served notice on two great powers in Washington: Russia, which may have to face new costs for its meddling in the 2016 U.S. election; and President Donald Trump, who will have to contend with congressional input on U.S. policy towards Russia. The bill, which also strengthens ...

For several years the European Union has heaped criticism on the governments of Poland and Hungary for flouting EU rules and undermining EU values. So far, it’s been mostly talk. Lately the violations have mounted. Support for some kind of punishment is growing, and a showdown seems to be looming. Yet the EU is finding that it lacks good — ...

India’s paradoxical relationship with beef took a new turn last month, when the environment minister imposed a ban on the sale of cows and buffaloes for slaughter at animal markets. Cow slaughter has been banned for decades in India because of the cow’s traditional status as a respected creature in Hinduism, the largest religion in India. In some cases, penalties ...

Sporting a white button-up shirt and black blazer, Alibaba Group Holding Ltd. Chairman Jack Ma sat on stage with Charlie Rose to make his pitch to America. If you miss the opportunity to sell your products to China, you will miss the opportunity. You will miss the future. With a line like that, Ma — China’s richest man — could ...

When I met Tony Martinez, the mayor of Brownsville, Texas, he had a somewhat wacky argument against the border fence that separated the town from Matamoros, Mexico. “We are about to become an interplanetary civilization,” he told me. “And here we are talking about a wall separating what is essentially the same community.” The reason he said so is that ...

Bloomberg Chinese stocks were little moved by their addition to MSCI Inc.’s benchmark indexes, as investors weighed the symbolic importance of inclusion against the limited impact on short-term inflows. While MSCI’s announcement was a landmark step in China’s integration with the global financial system, it will initially have a small effect on the amount of foreign money entering the nation’s ...

Bloomberg You wait for a Saudi market catalyst, and then three come along at once. Saudi Arabia’s Tadawul All Share Index rose 2.3 percent at 10:12 a.m. in Riyadh as traders embraced a trio of key announcements. Hours after global index provider MSCI Inc. opened the way for Saudi Arabian stocks to be included in its gauges, ruler King Salman ...

Bloomberg Global stocks retreated and the yen strengthened after oil tumbled into a bear market on concern a supply glut will persist. The pound extended its decline as the UK prepared to start a new parliamentary session under Theresa May’s minority government. European shares fell for a second day as crude continued to edge lower. Haven demand spurred the yen ...