The Latest Breaking News from China

While mercantilism and trade wars are back in fashion, a consistent strategy in macroeconomics has been the resistance to the brain drain. In the case of the US, the ability to attract highly productive immigrants was historically advantageous.

For more than a decade, China has been one of the most important growth engines for western luxury brands. From fashion and watches to fine wines and spirits, rising incomes and global exposure have fuelled an extraordinary appetite for premium products.

The US and Philippines are bolstering their defense in the South China Sea by deploying advanced missile systems. This move, aimed at deterring China's assertive actions, follows joint condemnation of Beijing's "illegal, coercive, aggressive, and deceptive activities." The allies are also increasing joint military drills and modernizing the Philippine armed…

The United States is planning to deploy more high-tech missile systems in the Philippines to help deter aggression in the South China Sea, where the treaty allies again condemned China’s “illegal, coercive, aggressive, and deceptive activities.”