On China & Euro

Intractable demographic problems are straining China’s economic system and thwarting policymakers’ attempts to battle deflation. Rapidly declining birthrates are providing fewer new consumers, and elderly Chinese are savers, not spenders. Amid these pressures, falling prices “take on a life of their own,” William reports. No wonder China’s annual GDP growth is projected to slow to 2% by the 2030s. … Also: A look at the complicated issue of China’s fentanyl trade—including reasons China isn’t keen on stopping it. … And: The dollar’s recent weakness has revived predictions that the euro might usurp it as reserve currency to the world. But “King Dollar” remains hard to dethrone.