Jamie Dimon managed to turn a multibillion-dollar trading loss into a winning moment.
Tales from the Trail
Those words of wisdom came from outgoing Defense Secretary Robert Gates at a congressional hearing. “I would say based on 27 years in CIA and 4 1/2 years in this job — most governments lie to each other. That’s the way business gets done,” Gates said.
The United States and India are, to borrow the phrase of a recent paper by the Center for a New American Security, “natural allies.” The world’s two biggest democracies, with proud traditions of free speech, separation of religion and state, and racial and ethnic diversity, have much in common, and Indians tend to have more favorable views of the United States than most Europeans.
As President Barack Obama begins his visit to India, his erstwhile rival John McCain is voicing hope that Washington and New Delhi will tighten up their military cooperation in the face of China’s “troubling” assertiveness.
We travel the Karakoram Highway from China to Pakistan on today’s edition of Washington Extra. Driving the agenda for Reuters today is news that the United States could be heading for another trade row with China, after it announced plans to toughen rules against what it sees as unfair trade practices. A number of the proposals are likely to irk Beijing and could provoke retaliation.