The 10-Point: Israel’s Election, Chinese Steel, U.S. Health-Care and More

Bibi on the Brink

Israeli Prime Minister Benjamin Netanyahu’s political future may be in peril. We report that the Israeli leader showed a rare moment of vulnerability last night as he warned of a “real danger” that he would lose his job in tomorrow’s election and blamed a foreign conspiracy for boosting his rivals’ prospects. “A left-wing government will come to power—this possibility exists,” he told thousands of right-wing demonstrators at a rally in Tel Aviv on Sunday night. Public-opinion polls last week showed his party trailing a center-left alliance in the 120-member parliament. We note that a change in leadership could signal a big shift in Israeli foreign policy. Isaac Herzog, Mr. Netanyahu’s chief rival, said he wants to restart talks with the Palestinians and would issue a partial freeze on Jewish settlements in the West Bank—territory Palestinians claim for a future state. He has also said he wants to de-escalate tensions with the White House over Iran. (Pictured above: A crowd mobilized by Jewish settler communities gather to hear Mr. Netanyahu and other candidates during a rally in Tel Aviv on Sunday.)

Chinese Metal-Bashing

China produces as much steel as the rest of the world combined. But as economic growth in the country slows, the excess steel that Chinese industry doesn’t need is washing up overseas. Our story looks at why Chinese steel exports are stirring protests all over the world. We note that “dumping,” or selling abroad below the cost of production to gain market share, is illegal under World Trade Organization law and punishable with tariffs. Chief executives of leading American steel producers said last week they would testify later this month at a congressional hearing—a move that might lead to at least one anti-dumping complaint. And European steel leaders and producers elsewhere have also been making their case for more tariff protection. Meanwhile, analysts say property and infrastructure construction demand in China is likely to remain under pressure, which would mean Chinese domestic demand for steel is unlikely to perk up soon.

Physician, Heal Thyself

Last month, we found that long-term hospitals discharged a disproportionate number of patients right at the point the health-care providers stood to earn the most, irrespective of the interests of the patients. That’s because these hospitals get smaller payments for short visits and much larger lump sums after patients stay for a certain number of days. Today we report that a planned overhaul of Medicare doesn’t go far enough to solve the problem, according to a congressional advisory panel. The new rules aim to limit the number of patients qualifying for high long-term hospital payments. A Medicare spokeswoman said officials expect “the new [long-term hospital] payment system may address the issues” with discharges as it begins to phase in later this year. However, a Journal analysis of Medicare claims suggests that the new criteria wouldn’t have much effect on the incentive to discharge eligible patients at particular times.

March Madness

The NCAA tournament bracket has been released. As expected, the Kentucky Wildcats got the No. 1 overall seed. Villanova, Duke and Wisconsin also received top slots. From the potential Kansas-Wichita State grudge match to Wisconsin and Arizona being on a collision course (again), we report on the most notable aspects of the tournament bracket and offer a blow-by-blow analysis of the selection show. Our columnist Jason Gay writes about what he loves, and doesn’t love, about March madness. Even though it’s a messy business, he notes that there is still much to adore, such as getting crushed in your office pool by someone who doesn’t even follow the sport. So make sure to mark your calendar with the best opening week games to watch.

TOP STORIES

U.S.

Republicans to Lay Out Budget Priorities

Clinton Taps Hispanics for Likely White House Campaign

WORLD

Diplomats Take Aim at a Tentative Iran Deal

Putin Details Crimea Takeover Before One-Year Anniversary

BUSINESS

Holcim Board Rejects Lafarge Merger Terms

Uber, Lyft Cases Focus on Drivers’ Legal Status

MARKETS

Hedge Funds Win as Euro Falls

Pension Fight Comes to a Head in Memphis

NUMBER OF THE DAY

$6.26 billion

The approximate value at which General Electric agreed to sell the consumer-lending business of GE Capital in Australia and New Zealand to an investor group—one of the biggest deals in the Asia-Pacific region so far this year.

QUOTE OF THE DAY

‘I don’t care about her yoga practice. I don’t care about bridesmaids dresses.’

—Rep. Trey Gowdy (R., S.C.), asserting on “Fox News Sunday” that he has “zero interest” in reading Hillary Clinton’s personal email, but added that he also doesn’t trust Mrs. Clinton to decide which of her emails are work-related.

TODAY’S QUESTION

What do you think will be the outcome of the election in Israel? Send your comments, which we may edit before publication, to [email protected]. Please include your name and location.

—Compiled by Khadeeja Safdar

READER RESPONSE

Responding to Friday’s question about Boeing and the Ex-Im Bank, Toby Baly observed from Nevada: “Given that Boeing’s competition is Airbus, who is backed or bankrolled by government (giving an unfair advantage), doesn’t Ex-Im even the playing field? If Airbus didn’t have the above the competition wouldn’t be close.” And Don Dunn wrote from Nebraska that: “The Bank provides substantial assistance to small- to medium-size manufacturers. Without its support a substantial amount of exports simply would not occur. In those transactions the record is very good - the process pays for itself. Using the program to benefit companies such as Boeing is unfortunate and certainly not the reason the Bank was created. Dismantling it seems to be throwing the baby out with the bath water.” But Slade Howell of North Carolina commented: “Any time the government is in charge of a major financing agency, you can expect an assault on capitalism. The import-export bank is a typical example of the problem, fertile ground for the picking of winners and losers. Large companies (in the U.S. or elsewhere) that can fund elections get special treatment. In addition, private banks are essentially replaced, further suppressing free markets. The longer these government lenders are in place, the worst the cronyism. It is time to give these national banks the boot and level the playing field.”

This daily briefing is named “The 10-Point” after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary “What’s News” digest of top stories. Technically, “10-point” referred to the size of the typeface. The type is smaller now but the name lives on.

Photo: Associated Press.