Expand chart

Data: Standardized World Income Inequality Database, Version 5.1; Chart: Andrew Witherspoon / Axios

The above chart, drawn from the OECD's recently released annual review of the Chinese economy, shows the difference in income inequality after redistribution. There is almost no net income or wealth redistribution in China, despite its professed egalitarian ethos, and that's a big problem for the global economy.

Why it matters: China's economic growth has been reliant, to an historically unprecedented degree, on investment in infrastructure, plants and equipment. But China has more such capital than it needs, and now investment is being funnelled to projects that will never justify their costs. This will inevitably slow the Chinese and global economies as inefficient investments weigh on growth.

China's next move: Economists say that China should shift its tax burden from sales taxes to those on high earners, while boosting social security spending and investments in education. These changes, however, are being resisted by powerful forces in Chinese society that benefit from the imbalanced distribution of resources.

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Updated 46 mins ago - Politics & Policy

Supreme Court denies Pennsylvania GOP request to limit mail-in voting

Protesters outside Supreme Court. Photo: Daniel Slim/AFP via Getty Images

The Supreme Court on Monday denied a request from Pennsylvania's Republican Party to shorten the deadlines for mail-in ballots in the state. Thanks to the court's 4-4 deadlock, ballots can be counted for several days after Election Day.

Why it matters: It's a major win for Democrats that could decide the fate of thousands of ballots in a crucial swing state that President Trump won in 2016. The court's decision may signal how it would deal with similar election-related litigation in other states.

Microphones will be muted during parts of Thursday's presidential debate

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

The Commission on Presidential Debates adopted new rules on Monday to mute microphones to allow President Trump and Joe Biden two minutes of uninterrupted time per segment during Thursday night's debate, AP reports.

Why it matters: In the September debate, Trump interrupted Biden 71 times, compared with Biden's 22 interruptions of Trump.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists"Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: Wisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  5. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  6. Sports: We've entered the era of limited fan attendance.
  7. Education: Why education technology can’t save remote learning.

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