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Matt Rourke / AP

Mark Zuckerberg has been lobbying since 2009 to get China to allow his social networking service back into the country, but it's probably not going anywhere, per the WSJ.

The bottom line: Efforts to soften China — such as hiring Chinese employees, using tech that's acceptable to the ruling Communist Party and learning Mandarin — aren't breaking down the barriers. Meanwhile social media brands in China, such as Weibo and Tencent Holding's WeChat and QQ, are already dominating the scene.

Why the Chinese blockage matters: There are 700 million internet users in China, making it an enormous potential growth area. The growth prospects in the U.S. are slowing as the company's ad revenues are possibly peaking: it boasted an 84% share of industry ad revenues in the third quarter of last year, per a WSJ report.

What to watch: Facebook will announce its earnings this Wednesday. Look for signs of growth with its Messenger app, Oculus VR headset, WhatsApp, or Instagram — since China isn't on its list of growth markets (at least for now).

Go deeper

Dan Primack, author of Pro Rata
31 mins ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.

Trump political team disavows "Patriot Party" groups

Marine One carries President Trump away from the White House on Inauguration Day. Photo: Patrick Smith/Getty Images

Donald Trump's still-active presidential campaign committee officially disavowed political groups affiliated with the nascent "Patriot Party" on Monday.

Why it matters: Trump briefly floated the possibility of creating a new political party to compete with the GOP — with him at the helm. But others have formed their own "Patriot Party" entities during the past week, and Trump's team wants to make clear it has nothing to do with them.