Puerto Rico’s latest fiscal plan appears to use a best case scenario as its base case. It consequently doesn’t provide a realistic benchmark for evaluating Puerto Rico’s long-run capacity to pay.

This week: Apple in China, reforming the way law enforcement accesses data, and blogging regulations in Russia.

Donald Trump's decision to impose tariffs on steel and aluminum is the most significant set of U.S. import restrictions in nearly half a century. It will have huge consequences for the global trading…