Axios

Russia’s surging coronavirus epidemic is now the world’s second-largest, behind the United States.

What to watch: As Russia becomes a new epicenter, President Vladimir Putin appears almost paralyzed.

"Soaring Prices, Rotting Crops ... Processing and transportation breakdowns, panic buying threaten vulnerable nations;" reports The Wall Street Journal (subscription):

What they're saying: "You can have a food crisis with lots of food. That’s the situation we’re in,” said Abdolreza Abbassian, a senior economist at the Food and Agriculture Organization of the United Nations.

AUCKLAND, New Zealand — Lines formed outside three different barbers and a cafe in the Auckland suburb of Birkenhead at 12:01 a.m. Thursday local time for a haircut and a late-night bite as the country relaxed some of the world's toughest restrictions.

The big picture: New Zealand is reopening for business this month with no coronavirus community spread. Barber Karl Hurcombe said it was "nerve-wracking" not knowing when he'd reopen as he has a bank loan and a mortgage. He had to organize rent relief. But like many Kiwis Axios spoke with, he cherished the lockdown time with his family, going for walks on warm, sunny days. "Part of me was like I've got myself in a bit of a laid-back rut now!" he joked.

The novel coronavirus will cause the sharpest economic downturn since the Great Depression, a UN report projected on Wednesday.

Why it matters: Governments around the world are pushing to reopen economies devastated by COVID-19 lockdown measures as cases continue to rise along with the death toll. And the World Health Organization warns the virus "may never go away."

AUCKLAND, New Zealand — Australia and New Zealand are reopening their economies from coronavirus constraints and are on track to share a "COVID-safe travel zone" within weeks.

Why it matters: New Zealand is ending some of the world's toughest lockdown measures this week, after eliminating community spread. Australia is on course to suppress the virus and remove all domestic restrictions by July.

A hospital in the epicenter of Italy's coronavirus outbreak has seen a 30-fold increase of children with severe inflammatory symptoms most often associated with Kawasaki-like disease, according to a study published Wednesday in the medical journal The Lancet.

Why it matters: This is one of the first completed studies to examine the rise of an inflammatory illness that is affecting children — some of whom have tested positive for the coronavirus or its antibodies.

Member states of the European Union should only allow tourists in from countries that can prove their coronavirus outbreaks are under control, the European Commission said in guidance released Wednesday.

The big picture: Countries reporting some of the highest coronavirus death tolls in Europe — the U.K., Italy and Spain — are taking different approaches in their phased efforts to reopen their economies, and will likely do the same with travel.

The bipartisan consensus on China may have fallen apart in Washington, but it's still going strong on American campuses.

What's happening: Dozens of leading members of both the College Republican National Committee and the College Democrats of America, representing universities in more than 45 states, have released a joint letter today that calls for the permanent closure of Chinese government-funded Confucius Institutes on all U.S. campuses, protections for students and campus groups that are vulnerable to Chinese government coercion, and condemnation of anti-Asian racism.

A growing number of experts are warning against what they call a "new Cold War" with China. But many Chinese Communist Party elites already view the rest of the world as a staging ground for competition between China and the United States.

The big picture: The current U.S. debate over China policy is essentially a response to the great power rivalry that China's leaders have already fully embraced.

Former senator Bob Dole has registered to lobby on behalf of Wanhua Chemical (America) Co., Ltd., a Texas-based firm whose Chinese parent company is caught up in the U.S.-China trade war.

Why it matters: Lobbying by former U.S. elected officials on behalf of the Chinese government or companies it controls has raised concerns that Beijing may be able to influence the U.S. domestic political process — especially given vague disclosure rules.

The Federal Bureau of Investigation (FBI) and Cybersecurity and Infrastructure Security Agency (CISA) issued a joint alert on Wednesday warning that actors affiliated with the Chinese Communist Party are targeting U.S. institutions for data and intellectual property related to coronavirus research.

Why it matters: The FBI said it is investigating potential data breaches and warned that research theft may jeopardize "the delivery of secure, effective, and efficient treatment options" for the coronavirus.

Brazil's President Jair Bolsonaro on Tuesday challenged state governors vowing to defy his push to reopen businesses to file lawsuits against his government as the country reported a record 881 people had died from the novel coronavirus in 24 hours.

By the numbers: The country's total death toll rose past 12,600 on Wednesday — making it the sixth worst-hit country for COVID-19 deaths, per Johns Hopkins data. Brazil has confirmed more than 178,200 infections, surpassing Germany, which has over 171,100 cases.

France's dairy industry issued an open letter on Tuesday urging people to eat more cheese, as farmers face an overstock of 2,000 tons of the product. Coronavirus restrictions were relaxed following eight weeks of lockdown this week.

Why it matters: Lockdowns have caused a surplus of food in several countries. France has seen cheese sales plummet nearly 60% since the pandemic began. Belgians are being urged to eat the national dish of fries twice a week as the potato industry faces a possible loss of $135.5 million. Meanwhile, Canada has been hit by a surplus of cheese and fries, with some 200 million pounds of potatoes "stuck in storage" and demand for cheese has taking a "significant downturn," the National Post reports.

Go deeper: The quarantine diet