Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sam Jayne / Axios

For all the worldwide worries, a fascinating and rare trend is unfolding around the globe: synchronized growth.

President Trump and many other global leaders are basically boosting each other with their expanding economies and increased spending at home. It's very unusual for the world's biggest economies to grow all at once — and this phenomenon has no doubt helped boost U.S. markets.

  • CNN's Fareed Zakaria, in an interview with us about transcendent global forces, calls it the "extraordinary" trend of a "synchronized global recovery" that could well continue into 2018 and beyond.

Check out the Q3 growth rates of the world's 10 largest economies:

  1. U.S.: 3.3%
  2. China: 6.9%
  3. Japan: 2.5%
  4. Germany: .8%
  5. U.K.: .4%
  6. India: 6.3%
  7. France: .5%
  8. Brazil: .1%
  9. Italy: .4%
  10. Canada: 1.7%

There are many reasons/theories for simultaneous growth:

  • The United States, Europe and others spent heavily to pull out of the 2007 recession. Around the same time, Japan finally pulled out of its long funk. Turns out, goosing spending helps, at least in short-term.
  • You wouldn't guess it from media coverage, but the world is more peaceful than usual. Even terrorist attacks are down — by double-digits.
  • Many of the emerging growth markets, like Indonesia, are governed by market- and trade-friendly economic reformers, juicing spending.
  • JPMorgan Chase CEO Jamie Dimon told us in Michigan last week that another reason has been the slow but sustained growth in the U.S., which has — little by little — helped lift other nations.

Bullish at the top: Dimon says we "could have years of more global growth."White House economic adviser Gary Cohn told us to expect a lot more growth at home next year, especially with the tax cuts in place. He sees a continued rally "based on real, underlying fundamentals of the economy — the U.S. economy as well as European economy and global economy," plus the new tax incentives.Be smart: Economics is like politics: Everyone has an opinion, but everyone is guessing.Be watchful: The same force that pulled the world out of an economic funk — sustained if anemic growth in the U.S., and robust growth in China — could turn and pull others down.Between now and New Year's Day, Axios CEO Jim VandeHei and I will bring AM readers our year-end thoughts on the topics that matter most. Sign up here.

Subscribe to Axios AM/PM for a daily rundown of what's new and why it matters, directly from Mike Allen.
Please enter a valid email.
Please enter a valid email.
Server error. Please try a different email.
Subscribed! Look for Axios AM and PM in your inbox tomorrow or read the latest Axios AM now.

Go deeper

Cuomo asks New York AG and chief judge to choose "independent" investigator into sexual harassment claims

New York Governor Andrew Cuomo at a press conference on Feb. 24. Photo: Seth Wenig/pool/AFP via Getty Images

A special counselor to New York Gov. Andrew Cuomo released a statement Sunday asking the state's attorney general and chief judge to jointly pick an "independent and qualified lawyer in private practice without political affiliation" to investigate claims of sexual harassment against the governor. The AG's office subsequently turned down the offer, saying it wants to conduct its own probe.

The state of play: The statement is an about-face from Cuomo, who had previously selected a former judge close to a top aide to lead the investigation, the New York Times reported, a move that was widely criticized.

Republican Sen. Sasse slams Nebraska GOP for "weird worship" of Trump after state party rebuke

Sen. Ben Sasse, (R-Neb.) Photo: Andrew Harnik - Pool/Getty Images

The Nebraska Republican Party on Saturday formally "rebuked" Sen. Ben Sasse (R-Neb.) for his vote to impeach former President Trump earlier this year, though it stopped short of a formal censure, CNN reports.

Why it matters: Sasse is the latest among a slate of Republicans who have faced some sort of punishment from their state party apparatus after voting to impeach the former president. The senator responded statement Saturday, per the Omaha World-Herald, saying "most Nebraskans don't think politics should be about the weird worship of one dude."

Cuomo barraged by fellow Dems after second harassment accusation

New York Gov. Andrew Cuomo faced a barrage of criticism from fellow Democrats after The New York Times reported that the second former aide in four days had accused him of sexual harassment.

Why it matters: Cuomo had faced a revolt from legislators for his handling of nursing-home deaths from COVID. Now, the scandal is acutely personal, with obviously grave political risk.