Any country pursuing economic liberalization could learn much from America’s successes. But these days, China might learn more from America’s failures. In the booming southern coastal region of Guangdong, energy price controls have forced truckers to wait in long lines…

The United States housing market has slumped, and the fallout is being felt as far away as China. The collapse of the market for subprime mortgages — the exceptionally risky mortgage investments for people with poor credit — has resonated…

By serving as middlemen to ensure that sellers get paid and buyers get what they pay for, credit cards are an invaluable part of modern economies, and most Chinese would be happy to have one. But the process of obtaining…