For years, Americans have misunderstood the nuclear threat from North Korea, and overestimated the importance of bilateral trade deficits with China. Now, these two issues are intersecting, and yet Donald Trump is threatening to erect new trade barrier…

Crackdown on backdoor borrowing by local governments set to drag on growth

Myriad of share classes reflects Beijing’s gradual market experimentation

Traders see action on China Hongqiao as sign that Beijing is serious about axing output

Backers Tencent and Sequoia hope to cash in on enthusiasm for high-tech teaching

Crackdown on splashy foreign acquisitions favours traditional property magnates