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.footer .iOSLink a { color: #666666 !important; text-decoration: none !important; } @media only screen and (max-device-width: 480px) { body { padding: 10px !important; } .one-column p, .one-column li { font-size: 19px !important; line-height: 29px !important; } }A daily digest of opinions and analysisTwo Leaders Who Love to Buck the SystemDonald Trump and Xi Jinping don’t share much in terms of temperament, political philosophy, or even golf fandom, but they do have this in common: a disdain for rules. That's why Michael Schuman is worried that when the two meet on Thursday, it could be the start of something dangerous for the international order.How to Build China’s City of the FutureReal-estate prices in rural Xiongxan County skyrocketed last week, after the Chinese government announced plans to develop the region into a gleaming new metropolis — but amid an “investor frenzy,” it’s worth remembering China’s mixed track record with such projects. Adam Minter considers what it’ll take to transform this sleepy area into the next Shenzhen.Small European Currencies Are Just a HeadacheCurrency pegs have outlived their usefulness. (Are you listening, Reykjavik?) Leonid Bershidsky makes the case that Iceland and similar countries should either embrace floating exchange rates, or join the euro.Lacker Leaks and Ethical HazinessA Fed official obviously shouldn’t leak information to a trader, but are the standards different if he's sharing information with a journalist? After Jeffrey Lacker, president of the Federal Reserve Bank of Richmond Levine, resigned this week over his role in a leak case, Matt Levine chews over the difference between insider trading and news-making.Pepsi: The Company Desperately Trying to Be Something It Isn’tThey say there’s no such thing as bad publicity, but then again, they probably haven’t seen that ad — you know, the unfortunate protest-themed one that Pepsi pulled this week after massive backlash. Once upon a time, the idea might have worked, Virginia Postrel says; now, it underscores an aging brand’s identity crisis.Before it’s here, it’s on the Bloomberg Terminal. Find out how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.Ritholtz’s ReadsETFs are the new bond kings (Bloomberg)How Trader Joe’s wine became cheaper than bottled water (Thrillist)Here’s the real Rust Belt jobs problem — and it’s not offshoring or automation (Washington Post)(Read Barry Ritholtz’s full daily news roundup here.)Bloomberg GadflyThe $20 billion takeover target that wasn’tJPMorgan’s tech spending should wake up rivalsBond traders ignore Fed balance sheet at their peril(Read more from BV’s sister site for fast business commentary.)Bloomberg L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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