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Economic View: A Tax Overhaul Would Be Great in Theory. Here’s Why It’s So Hard in Practice.

House Republicans have an ambitious plan for overhauling the way American businesses are taxed. A short list of the plan’s potential benefits looks awesome: It would give companies more incentive to keep jobs in the United States, less to overextend themselves on borrowed money and provide vast savings by reducing what companies spend on tax lawyers, who help them game the current system.

Plan for $10 Billion Chip Plant Shows China’s Growing Pull

After Intel and Foxconn said they would build advanced factories in America, it might have seemed as if the United States were gaining high-end manufacturing momentum. But on Friday, the California-based chip maker GlobalFoundries announced a $10 billion project in China, showing how the center of gravity continues to shift across the Pacific.