Good Monday morning ...
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, Axios CEO Jim VandeHei writes:
China is pouring time, money, infrastructure and trade into every continent, after promising to fill the global void created by Trump’s America First.
How it's happening:
The numbers don’t lie: China controlled 4% of the global economy in 2000, and the U.S. controlled 31%. Today, China has 15% and we have 24%.
Made in China's 2025: The plan is to dominate all futuristic advanced technologies such as robotics, AI, aviation and space, driverless or new energy vehicles.
China's 2050 plan trumpets the grand ambition of it all, because it puts today and Made in China 2025 in blunt context.
Trump’s plan: The president has raised a lot of these issues. But the current obsession with the trade deficit only flicks at the broader and growing problems.
Here's the case by economics correspondent Heather Long:
"Trump’s tough-guy persona is taking a beating from China," says a story at the top of the Post's print front page, by David J. Lynch:
Be smart ... Jonathan Swan tweets: "The bark to bite ratio is currently about 85:1."
"President Trump, increasingly concerned that his summit meeting in Singapore next month with North Korea’s leader could turn into a political embarrassment, has begun pressing his aides and allies about whether he should take the risk of proceeding," the N.Y. Times David E. Sanger reports:
Behind the curtain: "[A]ides who have recently left the administration say Mr. Trump has resisted the kind of detailed briefings about enrichment capabilities, plutonium reprocessing, nuclear weapons production and missile programs that [President] Obama and President George W. Bush regularly sat through."
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"Sabika Sheikh wanted to be a diplomat when she grew up. The 17-year-old [exchange student from Pakistan] dreamed of bringing cultures together," the Houston Chronicle's Alyson Ward writes:
Four hours after that tweet, the Justice Department said: "The Department has asked the Inspector General to expand the ongoing review of the FISA application process to include determining whether there was any impropriety or political motivation in how the FBI conducted its counterintelligence investigation of persons suspected of involvement with the Russian agents who interfered in the 2016 presidential election."
Why it matters, from N.Y. Times: "Trump went beyond his usual tactics of suggesting wrongdoing and political bias by those investigating him, and crossed over into applying overt presidential pressure on the Justice Department to do his bidding, an extraordinary realm where past presidents have hesitated to tread."
P.S. Jeffrey Toobin in The New Yorker, "Will the Fervor for Impeachment Start a Democratic Civil War? A push to remove Donald Trump from office may lead to disaster in the midterms":
Shot ... N.Y. Times: "The special counsel hopes to finish by Sept. 1 the investigation into whether President Trump obstructed the Russia inquiry, according to the president’s lawyer Rudolph W. Giuliani, who said ... that waiting any longer would risk improperly influencing voters in November’s midterm elections."
Be smart: Even if this timeline holds, it's much longer than the White House hoped or expected — and means that Mueller fallout could last right into the heart of this fall's midterm campaigns.
#Fortune500 (largest U.S. corporations, ranked by revenue for 2017 fiscal year):
Inside the list:
See the full 64th annual list, posting shortly.
Illustration: Sarah Grillo/Axios
Some of America’s biggest energy companies are lobbying Washington to change — critics say weaken — oversight of a federal tax credit going to facilities capturing carbon emissions, Axios' Amy Harder scoops in her weekly "Harder Line" energy column:
This rare 1969 Hot Wheels "Beach Bomb" is said to be worth $150,000. (Barcroft Media via Getty Images)
"After six billion vehicles sold, Hot Wheels is looking for one more car to race down those plastic orange tracks," writes the N.Y. Times' Gregory Schmidt (whose Twitter bio describes him as a "toy nerd"):