Feb 6, 2017

Big in Business: the economic speed limit

Kevin Burbach / AP

Now that Republicans are in charge: True-blue deficit hawks are worried about having too much faith in right-leaning reforms to boost economic growth. "You're not going to be able to grow your way out of this one," Oklahoma Republican Tom Cole argued to the Wall Street Journal Sunday. Cole has data on his side: Government debt is set to rise steeply over the next ten years, even absent new spending initiatives and tax cuts proposed by the Trump Administration.

The German export engine is losing steam: Deutsche Bank argues that an aging population and an influx of immigrants will force down the famously high savings rate in Germany, and help begin the process of lowering its overall trade surplus. This would be music to the White House's ears, but the U.S. is also facing similar demographic trends. Expect Germany to maintain its trade surplus with America, and remain on the Trump Administration's list of unfair traders.

Tiffany benches CEO: Tiffany announced the dismissal of its CEO Frederic Cumenal on Sunday after less than two years on the job, and just weeks after reporting disappointing holiday sales. The move is the latest of several high profile leadership changes in the luxury retail sector of late, and shows that even America's most valuable luxury brands are struggling as consumers shift more of their purchases online.

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Bernie Sanders suspends presidential campaign

Photo: ANDEL NGAN/AFP via Getty Images

Sen. Bernie Sanders announced Wednesday that he is suspending his presidential campaign.

The big picture: It's an end to the campaign of the leading progressive in the race — and the candidate who seemed to be the clear front-runner for the Democratic nomination just a few months ago. It also makes Biden the presumptive Democratic nominee four months before the party's convention in Milwaukee.

Indians look to Taiwan amid China's coronavirus missteps

Illustration: Sarah Grillo/Axios

Many Indians are angry at China and the World Health Organization for their perceived mishandling of the coronavirus. The efficiency and transparency of Taiwan's response to the epidemic, in contrast, has made it a topic of renewed sympathy and interest in India.

Why it matters: The coronavirus crisis is showcasing Taiwan's democratic system of governance on an international stage, the biggest soft power win for the country in years.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 1,447,466 — Total deaths: 83,471 — Total recoveries: 308,215Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 399,929 — Total deaths: 12,911 — Total recoveries: 22,539Map.
  3. 2020 latest: The results for Wisconsin's primary elections won't be released until April 13. Thousands of residents cast ballots in person.
  4. Federal government latest: The U.S. has begun to see "glimmers of hope" despite its highest recorded number of deaths in 24 hours, Anthony Fauci said.
  5. Public health latest: Surgeon General Jerome Adams highlighted the disproportionate impact the illness is having on African-American communities.
  6. 🚌 Public transit: Systems across the country are experiencing ridership collapse, squeezed funding streams and slow recovery from the pandemic.
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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