Indiscriminately targeting those with 10-digit fortunes is arbitrary, misguided and costly

Market Questions is the FT’s guide to the week ahead

The FT’s chief economics commentator speaks to former Republican adviser Robert Kagan

Poll of 94 economists points to benefits reaching far beyond the US and China

Violence erupts in several cities after mass demonstrations over high living costs and dissatisfaction with the education system

People elect presidents to fix problems, not to diagnose their causes

Rate markets have been particularly volatile on the outcome of the Fed’s next rate decision later in the month

Berlin secured concessions on combustion engines and Paris on limiting partners’ access to ‘Made in Europe’

Power inverters are central to the global clean electricity boom but reliance on China is triggering security fears

Federal Reserve and ECB play down likelihood of October rate rises while BoE says data does not currently support substantial further tightening

Also in today’s newsletter: British government courted UBS over London HQ move and why data centre bonds look increasingly stressed

US president’s trade war has become an albatross for his party in crucial midterm election races

US central bank chair says economy has ‘broadly conformed with our expectations’ since rate increase in September

Quicker responses to trade challenges mean companies can free up capital

Companies wanted a president who would cut taxes and rules, they got one who has blown holes in free trade and global alliances

Lengthy period of higher costs would squeeze corporate margins and spur some companies to raise prices

Ledger said theft from its secure wallets was ‘one of the most sophisticated attacks’ the industry has seen

Paris and Berlin near deal on bloc’s ‘Made in Europe’ subsidy programme and combustion engine phaseout

The EU’s hybrid car deal with Beijing eases tensions but only offers a brief respite

A series of ostensibly market-friendly electoral victories across the region has boosted local currency bonds