China, not Europe, keeps policy makers in Washington awake at night

Last week was good for Western democracies. In the Midterm elections in the United States, which usually prove to be a slaughterhouse for the sitting president's party, the Democrats scored much better than many had predicted. They even managed to keep a short majority in the Senate. Moreover, moderate Republican candidates performed significantly better than extremist Republican candidates endorsed by Donald Trump. This may give the moderates a stronger voice again in their party. Significan...