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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.

Updated 7 hours ago - Sports

Olympics dashboard

🚨: Japan's Naomi Osaka lights Olympic cauldron; Photos

👻: How the no-spectator Olympics could affect the athletes

🇺🇸: "What an honor it is to watch you soar," first lady tells U.S. Olympians

🌏: Meet the underdogs from Latin America

🥇: The six new sports at Tokyo 2020

💉 About 100 U.S. Olympic athletes are unvaccinated

✍️ Axios at the Olympics: What it's like inside the opening ceremony

Go deeper: Full Axios coverage

Senate Democrats demand answers on FBI's Kavanaugh probe

Photographer: Andrew Harrer/Bloomberg via Getty Images

Senate Democrats are demanding that the FBI hand over "all records and communications" related to the FBI tip line set up to investigate Supreme Court Justice Brett Kavanaugh when he was a nominee in 2018.

Why it matters: The ask comes after the FBI revealed it received more than 4,500 tips about Kavanaugh when he was awaiting Senate confirmation amid sexual assault allegations. Only the most "relevant" of these tips were forwarded to the Trump White House.

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