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Andrew Harnik/AP

A growing body of research is confirming the Trumpian view that allowing China's accession to the WTO had negative effects on the U.S. economy. The latest entry into this genre comes from David Autor of MIT, who along with several colleagues studied the relationship between China's joining the WTO and a decline in manufacturing innovation.

Expand chart
Data: David Autor, MIT; Chart: Andrew Witherspoon / Axios

According to the research, companies that faced increased competition from Chinese imports "experienced a significant decline in their patent output," which is used a proxy for innovation. This suggests that when faced with tough competition, firms pull back on research and development spending, which also hampers long-term economic growth.

Why it matters: Unlike Mexico, China has many barriers that prevent foreign companies from accessing its market, and it also does much to subsidize its own exporters. There is increasing evidence that shows China's WTO accession and its protectionist policies hurt the U.S. economy.

Go deeper

Updated 15 mins ago - Politics & Policy

Inauguration Day dashboard

Biden delivers his inaugural address on the West Front of the Capitol. Photo by Tasos Katopodis/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: The Celebrate America event, with remarks by Biden and Harris.

Bryan Walsh, author of Future
39 mins ago - Politics & Policy

President Biden faces a deeply broken America

Illustration: Aïda Amer/Axios

As President Biden begins his term in office today, he'll be tasked with leading a country beset with deep, long-term problems.

Why it matters: Though the pandemic has made them worse, existential challenges around inequality, social alienation and political division in the U.S. were in place well before SARS-CoV-2 arrived on American shores. The country's future will depend in large part on whether the choices made over the next four years can flatten the curve of American decline.

Facebook, Instagram transfer accounts, followers to Biden administration

Screenshot of official White House Facebook account.

Facebook on Wednesday confirmed that it is transferring the millions of followers of the official Facebook and Instagram White House accounts to the Biden administration.

Details: The accounts for "@POTUS," "@VicePresident" ("@VP" on Instagram) and "@FLOTUS" are having the followers from their personal Pages and accounts be transferred over. It's unclear when that transition process will be complete.