President Trump may have solidified his control over the Republican Party — even if he doesn't pull out a victory over Joe Biden — by expanding the GOP electorate and helping to reverse some 2016 Congressional losses.
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What China's uneven economic recovery means for the U.S.
Adapted from Institute of International Finance; Chart: Axios Visuals
China and much of Southeast Asia look to be bouncing back strongly from the coronavirus pandemic as stock markets and much of the country's economic data are returning to pre-pandemic levels.
What's happening: "Our tracking points to a clear V-shaped recovery in China," economists at the Institute of International Finance said in a note to clients Tuesday, predicting the country's second-quarter growth will rise above 2% after its worst quarter on record in Q1.
Qualcomm buying server chip startup Nuvia for $1.4 billion
Qualcomm said Wednesday it will pay $1.4 billion to buy Nuvia, a chip startup founded by former Apple employees.
Why it matters: The move gives Qualcomm fresh ideas for chip designs as the company faces intense competition from Intel, AMD and others.
Senate Democrats settling on 25% corporate tax rate
The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.
Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.