September 14, 2018

Since trade tensions between the United States and China began to soar this year, China’s markets have lost 20 percent, its currency has wobbled and exports have decelerated.

But China is gaining something else: friends.

Under pressure from President Trump’s tariff war, China has embarked on a charm offensive on the diplomatic circuit, smoothing over old disputes and courting partners who could help Beijing weather the storm with Washington. Germany, which perennially harangued Beijing over market access restrictions, recently let Chinese investors hold bigger shares in joint ventures in a significant concession. South Korea, the target of withering Chinese boycotts last year over its deployment of a U.S. missile defense system, is seeing Chinese tourism revenue and automobile sales return.

Read more

https://www.washingtonpost.com/world/2018/09/14/trumps-trade-wars-chinas-unexpected-win-more-friends/?utm_term=.18abed98e12c