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Illustration: Lazaro Gamio / Axios

The U.S. is considering using emergency powers to curb Chinese tech investments, and a new report by the U.S.-China Economic and Security Review Commission shows the government "is dangerously vulnerable to Chinese espionage or cyberattack because of its dependence on electronics and software made in China."

Why it matters: Tensions with China over technology are only going to deepen. If you rely on China for your supply chain, have you finished your contingency plans in the event of massive disruption?

The big picture: These trade wars can have unintended consequences, as Axios' Dan Primack writes in his Pro Rata newsletter this morning. He points out the current format of the CFIUS bill "could prevent U.S. investment funds from investing in sensitive U.S. tech companies (think semiconductors, cybersecurity, etc.), so long as those funds have Chinese limited partners."

  • And, from the other side, the NYT says if China boycott's U.S. goods, it could backfire on them.

Meanwhile, Axios' Steve LeVine writes that the U.S. is experiencing a revival of Japan syndrome, circa late 1970s. That's when "Made in Japan" abruptly stopped being a source of mirth, Americans began to snap up Toyotas and Nissans in big numbers, and Detroit sank into a profit-and-jobs bloodbath.

  • Similarly, 5 years ago, American technologists sneered at China's Baidu and its new search engine. But "they aren't laughing anymore," says Gregory Allen, an AI expert at the Center for a New American Security. "Now they are marveling at Baidu's advances in artificial intelligence."

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Updated 57 mins ago - Politics & Policy

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Illustration: Aïda Amer/Axios

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  3. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  4. Politics: Harris breaks tie as Senate proceeds with lengthy debate on COVID relief bill — Republican governor of West Virginia says there's no plan to lift mask mandate.
  5. World: Canada vaccine panel recommends 4 months between doses — In AstraZeneca spat, EU fights hard for a vaccine its hardly using.
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In AstraZeneca spat, EU fights hard for a vaccine it's hardly using

Macron, Merkel and European Council President Charles Michel (R) at a summit in October. Photo: Yves Herman/Pool/AFP via Getty

Italy on Thursday blocked the export of 250,000 AstraZeneca doses to Australia, becoming the first EU country to exercise an export ban due to a vaccine shortfall in the bloc.

Why it matters: The controversial step exposes multiple major challenges to distributing vaccines — even among the world’s richest countries.

Dave Lawler, author of World
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Global freedom continues steady decline: report

The global erosion of democracy has continued for a 15th consecutive year, according to an annual report from Freedom House.

Zoom in: The report calls particular attention to India, which slipped from “free” to “partly free” due to the government's “scapegoating of Muslims” and “crackdown on critics.” Prime Minister Narendra Modi is, according to the report, “driving India itself toward authoritarianism.”