Trade Policy Wowzas It is a long weekend for the commodity futures market, and policymakers have left a bevy of developments to think about, including the following: China: It is still a mercantilist concept, but China is reportedly offering to ramp up a six-year buying spree of U.S. goods, purportedly slashing its trade surplus by $1 trillion. Business leaders say that the two sides will soon be drafting the text that will guide trade relations for years to come. WTO and Tools: The U.S. argued in Geneva that allowing countries to self-designate their development level status will lead to “institutional irrelevance.” To stay relevant, the organization has appointed a New Zealand arbitrator to help reconcile perceived problems...