U.S. President Joe Biden is reportedly planning to block the Japanese takeover of U.S. Steel, raising questions about the administration’s economic and foreign policy priorities.  

The island’s proximity to Asia makes it a critical outpost for the U.S. military and a potential hub in the event of regional conflict.

Larry Summers has always believed that capital should flow from the already rich and aging societies that constitute the current core of the world economy to the poor and young countries on the perip…