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Illustration: Sarah Grillo/Axios

While the U.S. reckons with the fact that China's market power can stymie free speech after the NBA's firestorm, Hollywood — America's premier cultural exporter —  has long willingly bent to Chinese censorship to rake in profits.

Why it matters: China is set to become the world's biggest movie market in 2020, and with its 1.4 billion citizens, it won't relinquish that title anytime soon. That means it's key for Hollywood studios to do all they can to ensure that their tentpoles can pass the standards of the country's strict censors.

The big picture: The country's rampant censorship makes things difficult for foreign films. Beyond unsurprising restrictions on graphic nudity, sex and violence, China's censors can balk at anything from men wearing earrings to ghosts.

Perhaps the most extreme example was the 2018 decision to not allow Disney's "Christopher Robin" to be released, purportedly because Chinese President Xi Jinping's resemblance to Winnie the Pooh had become a joke among activists who resisted the country's Communist regime.

  • Censors also blocked the release of 2013's "World War Z," amplifying the film's relative financial disappointment for its studio, Paramount. Theories for its ban range from a reference to the film's zombie outbreak starting in China to a Chinese shadow ban on its leading man, Brad Pitt, for starring in "Seven Years in Tibet" in 1997.
  • 2012's "Red Dawn" saw its entire original plot, which featured China invading America to reclaim its debt, rewritten after filming to feature North Korea as its enemy instead — and still couldn't get a Chinese release.

Many American films do get released, but only with copious cuts to please the censors. While these usually involve slicing scenes of violence or sex, they often involve more politically-minded edits.

The bottom line: Despite the handwringing over China's economic ability to suppress Americans' freedom of speech, Hollywood film studios have willingly ceded their artistry to China's censors for years — on issues big and small — in pursuit of the almighty dollar.

Go deeper: China's vise grip on corporate America

Go deeper

Justice Department drops insider trading inquiry against Sen. Richard Burr

Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

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Illustration: Rebecca Zisser/Axios

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Treasury Secretary nominee Janet Yellen at an event in December. Photo: Alex Wong via Getty Images

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.