The world needs a climate Marshall Plan

The United States and China have far more to gain from working together to resolve the common global challenges of climate and shaky emerging-market finances. — Bloomberg

THE testy relationship between the United States and China is going through one of its warm patches again.

After a series of “candid, constructive, and comprehensive” meetings in Beijing, US Treasury Secretary Janet Yellen has singled out emerging-market debt and climate finance as the two areas where cooperation between Washington and Beijing would be most urgent and productive.