May 13, 2020 - World

College Democrats and Republicans denounce racism and CCP

Illustration: Lazaro Gamio/Axios

The bipartisan consensus on China may have fallen apart in Washington, but it's still going strong on American campuses.

What's happening: Dozens of leading members of both the College Republican National Committee and the College Democrats of America, representing universities in more than 45 states, have released a joint letter today that calls for the permanent closure of Chinese government-funded Confucius Institutes on all U.S. campuses, protections for students and campus groups that are vulnerable to Chinese government coercion, and condemnation of anti-Asian racism.

What they're saying: "The Chinese Communist Party’s actions pose an immense threat to academic freedom and to human dignity. It is imperative that we distinguish this totalitarian regime from the Chinese people, whom we must steadfastly defend from abhorrent acts of xenophobia, racism, and hatred."

Why it matters: Young people are showing Congress it's possible to denounce both China's authoritarianism and anti-Chinese racism in America at the same time.

Go deeper: Chinese Communist Party leaders have already fully embraced the "new Cold War"

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The risk asset rally continues as stock market rebounds

Illustration: Sarah Grillo/Axios

Risk assets have jumped over the past week and continued their rally on Wednesday, with the S&P 500 gaining for a fourth straight day and posting its highest close since March 4, while the Nasdaq ended the day just 1.4% below its all-time high.

What it means: If it hadn't been evident before, Wednesday's market action made clear that the bulls are back in charge.

Trump's troubles grow, spread

Photo: Tasos Katopodis/Getty Images

President Trump is confronting the most dire political environment of his presidency, with his support dropping fast from Texas to Wisconsin, even among his base of religious and older voters. 

Why it matters: Top Republicans tell Axios that Trump's handling of the nation's civil unrest, including his hasty photo op at St. John's Church after the violent clearing of Lafayette Park, make them much more worried about his chance of re-election than they were one week ago.

Social media takes on world leaders

Illustration: Aïda Amer/Axios

Social media companies are finally beginning to take action on posts from world leaders that violate their policies, after years of letting them mostly say whatever they wanted unfiltered to millions of people.

Why it matters: Government officials are among the users most likely to abuse the wide reach and minimal regulation of tech platforms. Mounting pressure to stop harmful content from spreading amid the coronavirus pandemic, racial protests and a looming U.S. election has spurred some companies to finally do something about it.