Iran’s foreign minister recently said his government is negotiating with China for a 25-year “strategic partnership” involving a reported $400 billion in Chinese investment. Global headlines heralded the deal as a “major pact” that presents a “bold challenge” to the U.S. Not so fast. For starters, this is a deal between two dishonest regimes that pride themselves on propaganda. The scale and feasibility of the deal deserve healthy skepticism. We should doubt Beijing’s capacity to fund $400 billion of...

Source: Wall Street Journal July 20, 2020 17:37 UTC