Chinese President Xi Jinping. Photo: Antonio Masiello/Getty Images

China's fiscal and monetary stimulus measures have been credited with turning around the country's economy and perhaps underpinning a rebound in European and global trade this year by high-minded economists, including at the IMF.

Why it matters: The congratulations may be a bit premature, a new report from the OECD suggests. While the stimulus has helped improve economic data, China has worsened a problem that was already "excessive and unsustainable."

  • "Faced with a dampening of domestic demand and export orders, the authorities have resorted to stimulus measures involving taxes, access to credit and infrastructure investment. The stimulus risks increasing once again corporate sector indebtedness and, more generally, reversing progress in deleveraging."

What they're saying: Ed Yardeni, president and chief investment strategist at Yardeni Research, points out that while China's headline numbers look good, the growth in GDP is increasingly a direct result of fiscal stimulus.

  • "We question the sustainability of the Chinese government's initiatives. But they seem to be successful at maintaining some economic momentum for now."

Go deeper: Stimulus measures boost China's first quarter GDP growth

Go deeper

Parties trade election influence accusations at Big Tech hearing

Photo: Michael Reynolds/Pool/AFP via Getty Images

A Senate hearing Wednesday with Big Tech CEOs became the backdrop for Democrats and Republicans to swap accusations of inappropriate electioneering.

Why it matters: Once staid tech policy debates are quickly becoming a major focal point of American culture and political wars, as both parties fret about the impact of massive social networks being the new public square.

1 hour ago - World

Germany goes back into lockdown

Photo: Fabrizio Bensch/Pool/AFP via Getty Images

German Chancellor Angela Merkel will enact one of Europe's strictest coronavirus lockdowns since spring, closing bars and restaurants nationwide for most of November, Reuters reports.

Why it matters: Germany is the latest European country to reimpose some form of lockdown measures amid a surge in cases across the continent.

How overhyping became an election meddling tool

Illustration: Annelise Capossela/Axios

As online platforms and intelligence officials get more sophisticated about detecting and stamping out election meddling campaigns, bad actors are increasingly seeing the appeal of instead exaggerating their own interference capabilities to shake Americans' confidence in democracy.

Why it matters: It doesn't take a sophisticated operation to sow seeds of doubt in an already fractious and factionalized U.S. Russia proved that in 2016, and fresh schemes aimed at the 2020 election may already be proving it anew.