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France Can Find Billions for Rearmament. Its Students Want Functioning Schools.

French students are protesting over overcrowded classrooms, missing teachers and deteriorating buildings while their government commits billions more to defence, reveals the choices behind the crisis: how to manage public debt, whether austerity undermines recovery, and why Europe’s military ambitions demand a harder reckoning with the public services and investment its citizens need.

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China Can Afford Dearer Oil. Can Its Factories?

China’s export earnings and vast financial reserves provide a cushion against the Middle East energy crisis. But smaller manufacturers face a harder calculation as rising costs meet customers unwilling to pay more, exposing the…

Dispatches

Japan spent three decades exporting cheap capital and became America’s largest foreign creditor. As the yen slid towards ¥164 to the dollar, Washington intervened…

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