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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Data: IMF World Economic Outlook; Chart: Will Chase/Axios

The global economy is going to end 2021 2.5% larger than it was at the end of 2019. That's according to the latest forecast from the IMF, which has upgraded its economic projections by about half a percentage point since its last forecast in January.

Why it matters: The overall growth rate of 6% in 2021 masks a huge range between countries. India is projected to grow at a 12.5% pace this year, for instance, while Nigeria will only grow by 2.5%.

The big picture: Europe is going to end 2021 with a smaller economy than it had at the end of 2019. Asia, however, is seeing torrid growth, led by both China and India.

  • The United States is doing extremely well by developed-country standards, with tailwinds from both widespread vaccinations and more than $5 trillion in economic stimulus.

Go deeper

Ben Geman, author of Generate
Apr 6, 2021 - Energy & Environment

Biden's climate balancing act with China

Data: Global Carbon Project; Chart: Axios Visuals

Partner? Rival? When it comes to China and climate policy, the White House answer to both questions seems to be yes.

Driving the news: The last few days underscore the delicate role that China is playing in White House climate efforts.

Updated Apr 5, 2021 - World

India surpasses 100,000 new COVID cases in 1 day for first time

A health worker collecting a swab sample in New Delhi, India, on Sunday. Photo: Amal KS/Hindustan Times via Getty Images

India's Ministry of Health confirmed 103,558 new COVID-19 infections on Monday.

Why it matters: It's the first time the country has reported over 100,000 new coronavirus cases in one day. India is the second country after the U.S. to reach that milestone.

Apr 5, 2021 - Politics & Policy

Exclusive: Janet Yellen to call for global minimum tax rate

Janet Yellen in Washington, D.C., U.S., on Friday, March 26, 2021. Photographer: Erin Scott/Bloomberg via Getty Images

Janet Yellen will use her first major address as Treasury secretary to argue for a global minimum corporate tax rate, Axios has learned, as she makes the case for President Biden’s plan to raise U.S. corporate taxes to fund his $2 trillion+ infrastructure plan.

Why it matters: Convincing other countries to impose a global minimum tax would reduce the likelihood of companies relocating offshore, as Biden seeks to increase the corporate rate from 21% to 28%.

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