The Panama Papers—the massive collection of leaked documents from Mossack Fonseca, a Panamanian law firm that helps set up offshore shell corporations—have already had political consequences. Iceland’s prime minister, Sigmundur David Gunnlaugsson, resigned after the leak revealed that he had partly owned an offshore firm. David Cameron, the British prime minister, is facing criticism over ...

Last October, the Biden administration unleashed one of its biggest countermeasures to date against China’s military ambitions: export controls on, among other things, cutting-edge semiconductors used for AI systems. The new rule restricts not just U.S. companies but any manufacturer that uses specified U.S. software or technology to build their products. As Kevin Wolf, who ...