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A worker moves a new piano at the Klaviry Petrof company in Hradec Kralove, Czech Republic, February 2009. Photo: Milan Jaros/AFP via Getty Images

Back in February, I wrote about how the classic Czech piano company Klaviry Petrof, founded in 1864, could face losses after China threatened retaliation on Czech companies after a Czech politician planned to visit Taiwan, which the Chinese government views as part of its territory.

  • After a second Czech official visited Taiwan in August, China made good on that threat — a Chinese company suspended a $23.8 million order of the Czech-made pianos.
  • But Karel Komárek, a Czech entrepreneur and billionaire, stepped in and bought the 11 pianos originally intended for China.

What he's saying: "My wife and I agreed that our foundation would immediately dedicate them to Czech schools. We would like the 11 instruments to become a symbol of Czech pride and cohesion," said Komárek.

Go deeper

China is the greatest, growing threat to America

Illustration: Rebecca Zisser/Axios

China has outlined strategies for 2018, 2025 and 2050 all designed to displace the United States as the dominant global economic and national security superpower.

Why it matters: While America dawdles and bickers, China is thinking long-term — and acting now, everywhere. There is no U.S. equivalent of a plan for 2025 or 2050 — or really for next year. 

Dan Primack, author of Pro Rata
14 mins ago - Politics & Policy

Biden starts negotiating to raise capital gains tax rate

Illustration: Aïda Amer/Axios

President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.

Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.

Scoop: Caitlyn Jenner makes it official for California governor

Caitlyn Jenner. Photo: Paul Archuleta/Getty Images

Former Olympic decathlete and reality TV star Caitlyn Jenner has filed her initial paperwork to run for governor of California and will officially announce her bid later today, her campaign tells Axios.

The big picture: Jenner, a longtime Republican, is seeking to replace Democratic Gov. Gavin Newsom in a recall election, hoping her celebrity status and name recognition can yield an upset in the nation's most populous state.