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Illustration: Eniola Odetunde/Axios

China's economic planning and targeted subsidies have increased the competitiveness of Chinese firms in the global economy to the direct detriment of U.S. industry, an academic study has found.

Why it matters: When it comes to American industries and workers, the rise of Chinese industrial policy hasn’t been a win-win — researchers found for every 100 factories opened in China, 12.5 U.S. factories in the same industry closed.

Details: Researchers at Columbia University and Boston College found that "high birth rates" of Chinese firms — meaning the opening of new factories and companies — negatively affected U.S. employment, in their April 2020 SSRN study.

What they're saying: "The key findings support the concern that U.S. firms are displaced by China’s manufacturing prowess, not just in 'sunset' industries from which the U.S. was happy to retreat, but also in industries that both countries are eager to lead, in a race that has been significantly shaped by the Chinese government."

The big picture: China's state-guided capitalism is increasingly showing itself to be a major challenge to a liberal global trade order premised on trading partners following a set of shared principles.

Go deeper: Beijing draws Chinese companies even closer

Go deeper

Scoop: Trump administration declassifies unconfirmed intel on Chinese bounties

Trump speaks during a press conference on China in the Rose Garden of the White House on May 29. Photo: Mandel Ngan/AFP via Getty Images

The Trump administration is declassifying as-yet uncorroborated intelligence, recently briefed to President Trump, that indicates China offered to pay non-state actors in Afghanistan to attack American soldiers, two senior administration officials tell Axios.

The big picture: The disclosure of this unconfirmed intelligence comes 21 days before the end of Trump's presidency, after he has vowed to ratchet up pressure on China, and months after news reports indicated that the Russians had secretly offered bounties for Taliban militants to kill U.S. troops in Afghanistan.

Avril Haines confirmed as director of national intelligence

Haines. Photo: Joe Raedle/Getty Image

Avril Haines was quickly confirmed by the Senate on Wednesday as the director of national intelligence (DNI) in a vote of 84-10.

Why it matters: Haines is the first of President Biden's nominees to receive a full Senate confirmation and she will be the first woman to serve as DNI. She's previously served as CIA deputy director from 2013 to 2015 and deputy national security adviser from 2015 to 2017.

Updated 1 hour ago - Politics & Policy

Inauguration Day dashboard

Biden delivers his inaugural address on the West Front of the Capitol. Photo by Tasos Katopodis/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: The Celebrate America event, with remarks by Biden and Harris.

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