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

  • Hotly anticipated bitcoin futures ease off after 22 percent surge (Reuters)
  • Bitcoin Futures Debut With 26% Rally, Trigger Cboe Trading Halts (BBG)
  • Powell faces early test of policy view as tax cuts near approval (Reuters)
  • Small Investors Face Higher Taxes Under Senate Proposal (WSJ)
  • US, Japan and South Korea host joint missile tracking drills (DW)