The number of stocks beating the S&P 500 is the highest in 4 years. Why that number should rise.

en English Economics Jul 27, 2026 Dambisa Moyo Companies have poured billions of dollars into AI in anticipation of transformative productivity gains and cost savings, but the returns have yet to justify those investments. Rising costs, intellectual-property risks, and mounting cybersecurity…

While a brigadier general and Secretary of Defense Caspar Weinberger’s military assistant, Colin Powell began to formulate a set of questions civilian leaders should ask themselves before committing to the use of military force.  What became known first as the Weinberger doctrine and later, when he became Chairman of the Joint Chiefs of Staff, as…

Renminbi appreciation would not, on its own, rebalance China’s economy and eliminate its massive surpluses. But by increasing households’ purchasing power over imports and compressing tradable-sector margins, it would raise the cost of avoiding reform. LONDON—China’s undervalued exchange rate is often read as a symptom of the imbalance that underlies its surpluses. This is the…

Does financial opening necessarily lead to currency internationalization? To study the competition between incumbent and rising powers under financial interdependence, we develop a model of asset demand with microfounded network effects. Search frictions with currency-specialized intermediaries generate distinct notions of liquidity at asset-market and currency-area levels, which jointly shape the trajectory of currency competition. In…

Wall Street just limped through its roughest stretch in months, and every investor is asking the same nervous question: Is the worst over in the stock market, or is the selloff just getting started?

International buyers only bought about 67,000 homes in the U.S. over the last 12 months ending in March, a near-record low, according to the National Association of Realtors.