For decades, Washington has justified its military presence in the Middle East as necessary to protect global energy security. American naval forces would safeguard shipping, military partnerships would deter attacks on oil-producing states, and sanctions would restrain governments regarded as threats to the US-led regional order. The promise was simple: …

For decades, Washington has justified its military presence in the Middle East as necessary to protect global energy security. American naval forces would safeguard shipping, military partnerships would deter attacks on oil-producing states, and sanctions would restrain governments regarded as threats to the US-led regional order. The promise was simple: …

There has been no shortage of complaints about Chinese overcapacity in recent years. Beijing’s commitment to driving exports and widening its trade surplus, by any means necessary, has undermined the manufacturing aspirations of advanced economies such as the United States and those in Europe, as well as developing countries in …