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China Unveils Plan To Combat Trump Tax Reform: “We’ll Have Tough Battles"

Beijing is putting in place a contingency plan to combat consequences for China of U.S. tax changes as well as expected interest-rate increases by the Federal Reserve. Under the plan the PBOC will "deploy a combination of tools—higher interest rates, tighter capital controls and more-frequent currency intervention—to keep money at home and support the yuan."

Frontrunning: December 11

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