China to counter 60% Trump tariffs with massive incentives to Europe, Asia

The Wall Street Journal with the article:

• To offset the potential hit to the already wobbly Chinese economy, the Xi leadership is considering plans to shower American allies in Europe and Asia with tariff cuts, visa exemptions, Chinese investments and other incentives, according to people close to Beijing’s decision-making.

The Journal is gated, but in brief:

• strategy labeled “unilateral opening” in China’s policy circles
• represents a tactical change for a leadership that has long favored quid-pro-quo economic and diplomatic deals
• China has already removed visa requirements for travelers from some two dozen countries including Australia, New Zealand, Denmark, Finland and South Korea—without requiring that the moves be immediately reciprocated
• Beijing is facing an uphill battle to make the strategy work

This article was written by Eamonn Sheridan at www.forexlive.com.